Western Digital Co. (NASDAQ:WDC) Receives $84.24 Average Target Price from Analysts

Western Digital Co. (NASDAQ:WDC) has been given an average recommendation of “Moderate Buy” by the twenty-two analysts that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $84.24.

WDC has been the topic of a number of research analyst reports. Wedbush raised their price target on Western Digital from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Evercore ISI reissued an “outperform” rating and set a $85.00 price target on shares of Western Digital in a research report on Thursday, August 15th. Summit Insights downgraded Western Digital from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Benchmark reiterated a “buy” rating and issued a $92.00 price target on shares of Western Digital in a report on Thursday. Finally, TD Cowen reduced their price objective on Western Digital from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, September 13th.

Insider Transactions at Western Digital

In related news, EVP Robert Soderbery sold 12,154 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $57.09, for a total transaction of $693,871.86. Following the transaction, the executive vice president now directly owns 128,413 shares of the company’s stock, valued at $7,331,098.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Western Digital news, SVP Gene M. Zamiska sold 2,900 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $61.48, for a total value of $178,292.00. Following the sale, the senior vice president now owns 37,448 shares of the company’s stock, valued at approximately $2,302,303.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert Soderbery sold 12,154 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were 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 directly owns 128,413 shares in the company, valued at approximately $7,331,098.17. The disclosure for this sale can be found here. Insiders have sold 92,955 shares of company stock valued at $6,327,560 over the last three months. Company insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On Western Digital

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Rise Advisors LLC acquired a new stake in shares of Western Digital in the 1st quarter valued at $25,000. Fairfield Financial Advisors LTD acquired a new position in Western Digital in the second quarter valued at about $29,000. Fidelis Capital Partners LLC bought a new stake in shares of Western Digital in the first quarter valued at about $30,000. 1620 Investment Advisors Inc. bought a new stake in shares of Western Digital in the second quarter valued at about $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Western Digital during the second quarter worth about $34,000. Institutional investors own 92.51% of the company’s stock.

Western Digital Trading Down 1.5 %

NASDAQ:WDC opened at $69.42 on Tuesday. Western Digital has a 1 year low of $35.62 and a 1 year high of $81.55. The stock has a market capitalization of $22.67 billion, a price-to-earnings ratio of -13.97 and a beta of 1.39. The stock has a fifty day moving average price of $64.09 and a two-hundred day moving average price of $69.65. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 1.32.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.17. The firm had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.75%. As a group, sell-side analysts anticipate that Western Digital will post 7.75 earnings per share 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.