Insider Selling: Western Digital Co. (NASDAQ:WDC) SVP Sells $139,390.42 in Stock

Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska sold 1,993 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $69.94, for a total transaction of $139,390.42. Following the transaction, the senior vice president now directly owns 30,608 shares in the company, valued at approximately $2,140,723.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Western Digital Trading Down 1.9 %

NASDAQ WDC opened at $67.02 on Thursday. The firm has a market capitalization of $23.17 billion, a PE ratio of 39.42 and a beta of 1.39. The stock’s 50 day moving average is $65.63 and its 200 day moving average is $69.59. Western Digital Co. has a twelve month low of $38.43 and a twelve month high of $81.55. The company has a quick ratio of 0.91, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, October 24th. The data storage provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.23. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The company’s quarterly revenue was up 48.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.97) EPS. Research analysts forecast that Western Digital Co. will post 7.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WDC. Barclays raised their price objective on Western Digital from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Cantor Fitzgerald lifted their price target on Western Digital from $80.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Susquehanna increased their price objective on Western Digital from $75.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Citigroup decreased their target price on shares of Western Digital from $95.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, BNP Paribas dropped their price target on shares of Western Digital from $95.00 to $90.00 in a research report on Thursday, October 24th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.09.

Institutional Investors Weigh In On Western Digital

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fairfield Financial Advisors LTD bought a new stake in shares of Western Digital in the 2nd quarter worth approximately $29,000. Eastern Bank purchased a new position in Western Digital during the third quarter valued at $27,000. Fidelis Capital Partners LLC bought a new stake in Western Digital in the first quarter worth $30,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Western Digital in the second quarter worth $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Western Digital during the second quarter valued at $34,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

About Western Digital

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.