5 Biggest Losers Today

4. Western Digital Corporation (NASDAQ:WDC)

Number of Hedge Fund Holders: 43

Shares of Western Digital Corporation (NASDAQ:WDC) hit a new 52-week low of $40.31 this morning after Exane BNP Paribas issued an “Underperform” rating for the data storage company.

Analyst Karl Ackerman referred to the declining hard-disk-drives in the coming quarters. Ackerman believes Western Digital Corporation (NASDAQ:WDC) could face a hard time amid a cyclical drop in NAND. He set a price target of $30 per share for the stock.

The coverage came a day after CEO David Goeckeler said Western Digital Corporation (NASDAQ:WDC) experienced a sharp drop in NAND storage prices over the last month. Goeckeler made these comments during the Goldman Sachs technology conference held in San Francisco yesterday.