Western Digital (NASDAQ:WDC) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Western Digital (NASDAQ:WDC - Free Report) in a research note issued to investors on Tuesday morning. The firm issued a hold rating on the data storage provider's stock.

WDC has been the topic of a number of other research reports. Wedbush reissued an "outperform" rating and set a $95.00 target price on shares of Western Digital in a report on Monday, February 10th. Citigroup decreased their price target on shares of Western Digital from $82.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, January 30th. Rosenblatt Securities decreased their price target on shares of Western Digital from $115.00 to $95.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. UBS Group upped their price target on shares of Western Digital from $70.00 to $74.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Finally, Susquehanna decreased their price target on shares of Western Digital from $83.00 to $72.00 and set a "neutral" rating on the stock in a report on Thursday, January 30th. Seven analysts have rated the stock with a hold rating and fourteen have assigned 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 price target of $84.42.

Western Digital Stock Performance

Shares of NASDAQ WDC traded down $2.58 during midday trading on Tuesday, reaching $68.71. The company's stock had a trading volume of 9,047,729 shares, compared to its average volume of 6,672,467. Western Digital has a 12-month low of $52.77 and a 12-month high of $81.55. The firm has a 50 day moving average price of $64.70 and a 200-day moving average price of $65.45. The stock has a market capitalization of $23.90 billion, a P/E ratio of 16.36 and a beta of 1.44. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 EPS 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%. As a group, equities analysts predict that Western Digital will post 4.89 earnings per share for the current year.

Insider Transactions at Western Digital

In related news, SVP Gene M. Zamiska sold 658 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The shares were 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 in the company, valued at $2,020,121.37. The trade was a 2.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Eastern Bank purchased a new stake in shares of Western Digital in the 3rd quarter valued at $27,000. Versant Capital Management Inc boosted its holdings in shares of Western Digital by 278.9% in the 4th 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. True Wealth Design LLC boosted its holdings in shares of Western Digital by 2,184.2% in the 3rd 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. Sierra Ocean LLC purchased a new stake in shares of Western Digital in the 4th quarter valued at $29,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Western Digital in the 4th quarter valued at $30,000. Institutional investors and hedge funds 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.