Western Digital (NASDAQ:WDC) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Western Digital (NASDAQ:WDC) in a research note issued to investors on Thursday,Benzinga reports. Cantor Fitzgerald currently has a $95.00 price objective on the data storage provider’s stock.

Several other research firms have also recently commented on WDC. Citigroup decreased their price target on shares of Western Digital from $87.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Benchmark lowered shares of Western Digital from a “buy” rating to a “hold” rating and set a $70.00 target price for the company. in a research note on Thursday, December 19th. Susquehanna dropped their price target on shares of Western Digital from $83.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday. UBS Group reduced their price objective on Western Digital from $74.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Finally, BNP Paribas dropped their target price on Western Digital from $95.00 to $90.00 in a research report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $84.21.

Western Digital Trading Down 1.0 %

Western Digital stock opened at $65.13 on Thursday. The company has a 50 day moving average price of $65.67 and a 200 day moving average price of $65.44. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.47. Western Digital has a 52 week low of $52.77 and a 52 week high of $81.55. The firm has a market capitalization of $22.52 billion, a price-to-earnings ratio of 15.51 and a beta of 1.43.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.36). Western Digital had a net margin of 9.95% and a return on equity of 16.13%. Research analysts forecast that Western Digital will post 5.37 EPS for the current year.

Insider Transactions at Western Digital

In other news, SVP Gene M. Zamiska sold 658 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total value of $46,053.42. Following the sale, the senior vice president now owns 28,863 shares in the company, valued at approximately $2,020,121.37. This trade represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 1,347 shares of company stock worth $93,027. Company insiders own 0.30% of the company’s stock.

Institutional Trading of Western Digital

Hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc increased its holdings in shares of Western Digital by 278.9% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock worth $25,000 after purchasing an additional 304 shares during the period. Eastern Bank acquired a new stake in Western Digital during the third quarter worth about $27,000. Sierra Ocean LLC bought a new position in Western Digital during the fourth quarter valued at about $29,000. True Wealth Design LLC raised its holdings in Western Digital by 2,184.2% in the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock valued at $30,000 after acquiring an additional 415 shares in the last quarter. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of Western Digital in the 4th quarter worth approximately $30,000. 92.51% of the stock is owned by institutional investors.

Western Digital Company Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.