Recent Investor Exodus from Western Digital (WDC) Might Create Buying Opportunity - Barron's

Western Digital (Nasdaq: WDC) is seeing upside on Monday following a positive mention in Barron's over the weekend.

Barron's suggests that Western Digital is worth a second look. While investors are rushing from tech to consumer staples, such as Campbell Soup (NYSE: CPB), Western Digital has put up impressive growth over the last few years.

Digital storage is still a growth market and the industry has been whittled down from 10 to three over the last decade. Western Digital (Nasdaq: WDC) and Seagate Tech (Nasdaq: STX) control 85 percent of the market. That compares with much fiercer competition in the food segment.

Western Digital is also cheap versus Campbell, going for 10.7 times FY15 earnings versus 16.7 times for Campbell.

Street analysts see Western Digital growing revs 1.2 percent to $15.3 billion in FY15 with EPS rising 2.9 percent to $8.33. Forecasts for the following two years have EPS growth rates at 6.6 percent and 8.7 percent.

Shares of Western Digital are up over 1 percent.

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