Western Digital Co. (NASDAQ:WDC) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Western Digital Co. (NASDAQ:WDC) have been assigned an average recommendation of “Moderate Buy” from the twenty-two analysts that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $84.24.

A number of brokerages have issued reports on WDC. Wedbush increased their target price on shares of Western Digital from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Summit Insights lowered shares of Western Digital from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. TD Cowen decreased their target price on shares of Western Digital from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Rosenblatt Securities reissued a “buy” rating and issued a $115.00 price objective on shares of Western Digital in a research report on Thursday, August 1st. Finally, Evercore ISI reissued an “outperform” rating and set a $85.00 price objective on shares of Western Digital in a research report on Thursday, August 15th.

Insider Buying and Selling

In other news, SVP Gene M. Zamiska sold 417 shares of Western Digital stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total transaction of $27,059.13. Following the completion of the sale, the senior vice president now directly owns 28,870 shares of the company’s stock, valued at approximately $1,873,374.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Robert Soderbery sold 12,154 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $57.09, for a total value of $693,871.86. Following the completion of the sale, the executive vice president now owns 128,413 shares of the company’s stock, valued at $7,331,098.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Gene M. Zamiska sold 417 shares of Western Digital stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total transaction of $27,059.13. Following the sale, the senior vice president now directly owns 28,870 shares in the company, valued at $1,873,374.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,955 shares of company stock worth $6,327,560. Corporate insiders own 0.28% of the company’s stock.

Institutional Trading of Western Digital

Hedge funds have recently modified their holdings of the business. Rise Advisors LLC bought a new position in Western Digital during the 1st quarter valued at about $25,000. Fairfield Financial Advisors LTD bought a new position in shares of Western Digital during the second quarter worth $29,000. Fidelis Capital Partners LLC purchased a new position in shares of Western Digital during the first quarter valued at about $30,000. OFI Invest Asset Management purchased a new position in Western Digital during the 2nd quarter valued at approximately $34,000. Finally, 1620 Investment Advisors Inc. bought a new stake in Western Digital in the second quarter worth $34,000. Institutional investors own 92.51% of the company’s stock.

Western Digital Price Performance

NASDAQ:WDC opened at $67.03 on Friday. The company has a market cap of $21.89 billion, a P/E ratio of -13.49 and a beta of 1.39. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 1.32. The stock’s 50-day simple moving average is $64.89 and its 200 day simple moving average is $69.84. Western Digital has a 52-week low of $35.62 and a 52-week high of $81.55.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.08 by $0.17. The firm had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.77 billion. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. As a group, sell-side analysts forecast that Western Digital will post 7.75 EPS for the current fiscal year.

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.