Analyst Recommendations for Western Digital (NASDAQ:WDC)Analyst Recommendations for Western Digital (NASDAQ:WDC)
Western Digital Co. (NASDAQ:WDC – Get Free Report) has received an average rating of “Moderate Buy” from the twenty-four brokerages that currently cover the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and nineteen have rated the company with a buy rating. The average twelve-month price target among brokerages that have rated the stock in the last year is $82.09.
A number of equities research analysts recently commented on WDC stock. Wells Fargo & Company raised their price target on shares of Western Digital from $72.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, April 10th. Wedbush re-issued an “outperform” rating and set a $85.00 price target on shares of Western Digital in a report on Friday, April 26th. Susquehanna raised their price target on shares of Western Digital from $80.00 to $88.00 and gave the company a “neutral” rating in a report on Tuesday, June 11th. Raymond James downgraded shares of Western Digital from an “outperform” rating to a “market perform” rating in a report on Monday, April 22nd. Finally, Mizuho raised their price target on shares of Western Digital from $80.00 to $90.00 and gave the company a “buy” rating in a report on Friday, May 31st.
Read our latest stock report on Western Digital
Insider Buying and Selling at Western Digital
In other Western Digital news, EVP Robert Soderbery sold 26,853 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $73.48, for a total transaction of $1,973,158.44. Following the completion of the sale, the executive vice president now directly owns 144,623 shares of the company’s stock, valued at $10,626,898.04. The transaction was disclosed in a document filed with the SEC, which can be accessed at this link. In other news, SVP Gene M. Zamiska sold 416 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $71.88, for a total transaction of $29,902.08. Following the completion of the transaction, the senior vice president now directly owns 30,321 shares of the company’s stock, valued at $2,179,473.48. The sale was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. Also, EVP Robert Soderbery sold 26,853 shares of the company’s stock in a transaction dated Tuesday, June 4. The shares were sold at an average price of $73.48, for a total transaction of $1,973,158.44. Following the transaction, the executive vice president now directly owns 144,623 shares of the company’s stock, valued at $10,626,898.04. The disclosure for this sale can be found here. Insiders sold a total of 27,488 shares of the company’s stock worth $2,020,143 in the last three months. Company insiders own 0.25% of the company’s stock.
Hedge Funds Weigh In on Western Digital
Several hedge funds and other institutional investors have recently changed their holdings of WDC. Kodai Capital Management LP purchased a new position in shares of Western Digital during the fourth quarter worth approximately $212.9 million. Norges Bank purchased a new position in shares of Western Digital during the fourth quarter worth approximately $150.958 million. Canada Pension Plan Investment Board increased its stake in shares of Western Digital by 1,089.7% during the first quarter. Canada Pension Plan Investment Board now owns 1,071,600 shares of the data storage provider’s stock worth $73,126,000 after acquiring an additional 981,527 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Western Digital during the fourth quarter worth approximately $48,466,000. Finally, Mizuho Markets Americas LLC bought a new position in Western Digital in the fourth quarter worth approximately $37.26 million. 92.51% of the shares are held by institutional investors.
Western Digital Price Performance
Western Digital shares opened at $80.24 on Thursday. Western Digital has a 52-week low of $35.62 and a 52-week high of $81.55. The company’s 50-day moving average price is $75.58 and its 200-day moving average price is $65.90. The company has a quick ratio of 1.07, a current ratio of 1.86 and a debt-to-equity ratio of 0.72. The stock has a market cap of $26.20 billion, a price/earnings ratio of -16.14 and a beta of 1.37.
Western Digital (NASDAQ:WDC – Get Free Report) last released its earnings results on Thursday, April 25. The data storage provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.21 by $0.42. Western Digital had a negative net margin of 12.87% and a negative return on equity of 13.75%. The company had revenue of $3.46 billion for the quarter, compared to analyst expectations of $3.37 billion. In the year-ago quarter, the company earned ($1.57) EPS. The company’s quarterly revenue increased 23.3% compared to the same quarter last year. On average, analysts predict that Western Digital will post -1.45 EPS for the current year.
Western Digital Company Profile
(Get Free Report
Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, the rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook computers (PCs), game consoles, and set-top boxes; and flash-based embedded storage products for mobile phones, tablets, notebooks, and other portable and wearable devices, as well as applications for automotive, Internet of Things, industrial, and the connected home.
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