Western Digital’s (WDC) Outperform Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Western Digital (NASDAQ:WDC) in a research report sent to investors on Thursday,RTT News reports. The brokerage currently has a $95.00 price objective on the data storage provider’s stock.

WDC has been the subject of several other reports. Benchmark downgraded 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $95.00 price objective on shares of Western Digital in a research report on Friday, January 17th. Mizuho decreased their target price on Western Digital from $90.00 to $82.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Susquehanna raised their price target on Western Digital from $75.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, BNP Paribas reduced their price objective on shares of Western Digital from $95.00 to $90.00 in a research report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Western Digital presently has an average rating of “Moderate Buy” and an average target price of $84.21.

Western Digital Stock Down 1.0 %

Western Digital stock opened at $65.13 on Thursday. Western Digital has a twelve month low of $52.77 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. The company has a 50 day moving average of $65.67 and a 200-day moving average of $65.44. The stock has a market capitalization of $22.52 billion, a PE ratio of 15.51 and a beta of 1.43.

Western Digital (NASDAQ:WDC) last released 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 return on equity of 16.13% and a net margin of 9.95%. On average, equities research analysts anticipate that Western Digital will post 5.37 EPS for the current fiscal year.

Insider Buying and Selling at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 658 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total transaction of $46,053.42. Following the completion of the transaction, the senior vice president now owns 28,863 shares of the company’s stock, valued at approximately $2,020,121.37. The trade was a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 1,347 shares of company stock valued at $93,027 in the last ninety days. 0.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WDC. Eastern Bank bought a new stake in Western Digital during the 3rd quarter worth $27,000. Versant Capital Management Inc boosted its stake in shares of Western Digital by 278.9% during the fourth 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 in the last quarter. True Wealth Design LLC grew its holdings in shares of Western Digital by 2,184.2% during 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 during the last quarter. Sierra Ocean LLC acquired a new position in shares of Western Digital in the fourth quarter valued at approximately $29,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in Western Digital during the 4th quarter worth approximately $30,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

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.