Western Digital (NASDAQ:WDC) Price Target Lowered to $65.00 at Cantor Fitzgerald

Western Digital (NASDAQ:WDC) had its price target reduced by Cantor Fitzgerald from $95.00 to $65.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the data storage provider’s stock.

Several other research firms also recently commented on WDC. Robert W. Baird dropped their target price on Western Digital from $100.00 to $80.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. The Goldman Sachs Group boosted their target price on Western Digital from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Wedbush reissued an “outperform” rating and issued a $95.00 target price on shares of Western Digital in a report on Monday, February 10th. Wells Fargo & Company dropped their target price on Western Digital from $85.00 to $75.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. Finally, StockNews.com initiated coverage on Western Digital in a report on Wednesday, February 26th. They issued a “buy” rating on the stock. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.47.

Western Digital Trading Up 0.6 %

NASDAQ WDC opened at $41.70 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. Western Digital has a twelve month low of $39.58 and a twelve month high of $61.16. The firm has a market capitalization of $14.50 billion, a PE ratio of 9.93 and a beta of 1.42. The stock’s 50 day moving average is $62.03 and its 200 day moving average is $64.70.

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 the consensus estimate of $1.91 by ($0.36). Western Digital had a net margin of 9.95% and a return on equity of 15.68%. Research analysts forecast that Western Digital will post 4.89 earnings per share for the current fiscal year.

Institutional Trading of Western Digital

Hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc increased its position in 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 acquiring an additional 304 shares during the last quarter. Sierra Ocean LLC purchased a new stake in Western Digital during the fourth quarter valued at $29,000. True Wealth Design LLC increased its position in 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 valued at $30,000 after acquiring an additional 415 shares during the last quarter. Comprehensive Financial Planning Inc. PA purchased a new stake in Western Digital during the fourth quarter valued at $30,000. Finally, OFI Invest Asset Management purchased a new stake in Western Digital during the fourth quarter valued at $36,000. 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.