Western Digital: S&P Intraday Laggard

NEW YORK (TheStreet) -- Western Digital(WDC) was the worst-performing stock in the S&P 500 intraday Tuesday.

The S&P 500 was rising almost 17 points, or 1.29%, to 1,334.

Shares of Western Digital fell 1.34% to $33.75. The stock was downgraded to equal weight from overweight by Barclays analysts on Tuesday.

Western Digital trades at an estimated price-to-earnings ratio for next year of 3.59 times; the average for computer hardware companies is 16.2. For comparison, NetApp(NTAP) has a higher forward P/E of 11.96.

Twelve of the 22 analysts who cover Western Digital rated it buy; 10 analysts gave the stock a hold rating.

The stock has risen 9.18% year to date.

-- Written by Alexandra Zendrian

>To contact the writer of this article, click here: Alexandra Zendrian

>To submit a news tip, send an email to: tips@thestreet.com.