Gene M. Zamiska Sells 417 Shares of Western Digital Co. (NASDAQ:WDC) Stock

Western Digital Co. (NASDAQ:WDC - Get Free Report) SVP Gene M. Zamiska sold 417 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total transaction of $27,059.13. Following the completion of the transaction, the senior vice president now owns 28,870 shares of the company's stock, valued at $1,873,374.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Western Digital Stock Down 1.5 %

WDC stock traded down $0.99 during trading on Thursday, reaching $64.04. The stock had a trading volume of 3,177,394 shares, compared to its average volume of 6,541,843. Western Digital Co. has a one year low of $35.62 and a one year high of $81.55. The company's 50 day moving average is $70.82 and its two-hundred day moving average is $68.52. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $20.91 billion, a price-to-earnings ratio of -12.92 and a beta of 1.37.

Western Digital (NASDAQ:WDC - Get Free Report) last released its earnings results on Wednesday, July 31st. The data storage provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.17. The company had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.77 billion. Western Digital had a negative return on equity of 2.61% and a negative net margin of 3.75%. Equities research analysts forecast that Western Digital Co. will post 8.73 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Loop Capital increased their price objective on shares of Western Digital from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, June 4th. Benchmark boosted their price objective on Western Digital from $85.00 to $92.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Rosenblatt Securities restated a "buy" rating and set a $115.00 target price on shares of Western Digital in a research report on Thursday, August 1st. StockNews.com raised Western Digital from a "sell" rating to a "hold" rating in a research note on Saturday, July 6th. Finally, Citigroup boosted their target price on shares of Western Digital from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Friday, July 12th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Western Digital presently has an average rating of "Moderate Buy" and an average price target of $84.18.

Institutional Investors Weigh In On Western Digital

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Western Digital by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 38,579,938 shares of the data storage provider's stock valued at $2,020,431,000 after purchasing an additional 215,207 shares during the period. DNB Asset Management AS increased its holdings in Western Digital by 2.7% in the 2nd quarter. DNB Asset Management AS now owns 7,857,586 shares of the data storage provider's stock worth $595,369,000 after acquiring an additional 206,756 shares during the last quarter. Kodai Capital Management LP bought a new stake in Western Digital in the 4th quarter valued at about $212,900,000. Charles Schwab Investment Management Inc. lifted its holdings in Western Digital by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,096,993 shares of the data storage provider's stock valued at $162,190,000 after purchasing an additional 68,879 shares during the last quarter. Finally, Norges Bank bought a new position in Western Digital during the fourth quarter worth about $150,958,000. 92.51% of the stock is currently owned by institutional investors.

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.

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