Insider Selling: Western Digital Co. (NASDAQ:WDC) SVP Sells 1,993 Shares of Stock

Western Digital Co. (NASDAQ:WDC - Get Free Report) SVP Gene M. Zamiska sold 1,993 shares of Western Digital stock in a transaction dated Monday, October 28th. The stock was 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 $2,140,723.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Western Digital Stock Up 0.4 %

NASDAQ WDC traded up $0.26 on Monday, hitting $69.71. 7,901,592 shares of the stock were exchanged, compared to its average volume of 6,187,767. 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 Co. has a fifty-two week low of $38.43 and a fifty-two week high of $81.55. The company has a market cap of $24.10 billion, a PE ratio of 41.01 and a beta of 1.39. The company has a 50-day moving average price of $65.51 and a 200-day moving average price of $69.64.

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

Analysts Set New Price Targets

A number of equities analysts have commented on WDC shares. StockNews.com raised shares of Western Digital from a "sell" rating to a "hold" rating in a research note on Saturday, July 6th. UBS Group reduced their target price on shares of Western Digital from $74.00 to $72.00 and set a "neutral" rating on the stock in a research note on Thursday. Rosenblatt Securities reissued a "buy" rating and issued a $115.00 price target on shares of Western Digital in a research note on Friday. TD Cowen reduced their price target on shares of Western Digital from $95.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday, September 13th. Finally, Wedbush reissued an "outperform" rating and issued a $95.00 price target on shares of Western Digital in a research note on Friday. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.09.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WDC. Park Avenue Securities LLC purchased a new stake in Western Digital in the 1st quarter valued at $437,000. Sunbelt Securities Inc. purchased a new position in Western Digital during the 1st quarter worth $36,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in Western Digital by 8.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 822,281 shares of the data storage provider's stock worth $56,112,000 after buying an additional 64,980 shares during the last quarter. First Trust Direct Indexing L.P. raised its position in Western Digital by 14.9% during the 1st quarter. First Trust Direct Indexing L.P. now owns 5,688 shares of the data storage provider's stock worth $388,000 after buying an additional 737 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in Western Digital during the 1st quarter worth $236,000. Institutional investors and hedge funds own 92.51% of the company's stock.

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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