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

Western Digital Co. (NASDAQ:WDC) has been assigned an average rating of “Moderate Buy” from the twenty brokerages that are presently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $84.21.

Several analysts recently issued reports on the company. The Goldman Sachs Group increased their price target on Western Digital from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Friday. Wedbush reiterated an “outperform” rating and set a $95.00 target price on shares of Western Digital in a report on Thursday. Barclays decreased their price target on Western Digital from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Susquehanna reduced their target price on shares of Western Digital from $83.00 to $72.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Morgan Stanley dropped their price target on shares of Western Digital from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th.

Western Digital Price Performance

WDC stock opened at $65.13 on Monday. The stock has a 50-day moving average price of $65.67 and a two-hundred day moving average price of $65.52. The company has a market cap of $22.52 billion, a PE ratio of 15.51 and a beta of 1.43. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49. Western Digital has a 12-month low of $52.77 and a 12-month high of $81.55.

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

Insider Buying and Selling

In other news, SVP Gene M. Zamiska sold 658 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total transaction of $46,053.42. Following the sale, the senior vice president now directly owns 28,863 shares of the company’s stock, valued at $2,020,121.37. The trade was a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 1,347 shares of company stock worth $93,027 in the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Western Digital

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

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.