Equities research analysts at StockNews.com started coverage on shares of Western Digital (NASDAQ:WDC - Get Free Report) in a research note issued to investors on Tuesday. The brokerage set a "hold" rating on the data storage provider's stock.
A number of other research analysts have also recently issued reports on the company. Cantor Fitzgerald lowered their price objective on Western Digital from $95.00 to $65.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. Rosenblatt Securities dropped their price target on shares of Western Digital from $115.00 to $95.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Bank of America reduced their price objective on shares of Western Digital from $89.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. Benchmark cut shares of Western Digital from a "buy" rating to a "hold" rating and set a $70.00 price target on the stock. in a report on Thursday, December 19th. Finally, Susquehanna cut their target price on Western Digital from $83.00 to $72.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $77.00.
Read Our Latest Stock Analysis on Western Digital
Western Digital Trading Down 1.3 %
WDC stock traded down $0.47 during trading on Tuesday, reaching $34.40. The company had a trading volume of 8,653,199 shares, compared to its average volume of 6,325,228. 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 has a 52 week low of $28.83 and a 52 week high of $81.55. The business has a 50 day moving average of $48.44 and a 200 day moving average of $59.94. The company has a market cap of $11.97 billion, a P/E ratio of 8.19 and a beta of 1.39.
Western Digital (NASDAQ:WDC - Get Free Report) last posted its 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 15.68% and a net margin of 9.95%. As a group, sell-side analysts forecast that Western Digital will post 4.89 earnings per share for the current fiscal year.
Insider Transactions at Western Digital
In related news, SVP Gene M. Zamiska sold 1,659 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $41.36, for a total value of $68,616.24. Following the completion of the transaction, the senior vice president now owns 43,776 shares of the company's stock, valued at approximately $1,810,575.36. This represents a 3.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.30% of the company's stock.
Hedge Funds Weigh In On Western Digital
A number of hedge funds have recently made changes to their positions in WDC. Mather Group LLC. grew its stake in Western Digital by 7.0% during the fourth quarter. Mather Group LLC. now owns 2,416 shares of the data storage provider's stock valued at $144,000 after acquiring an additional 159 shares in the last quarter. Vontobel Holding Ltd. lifted its position in shares of Western Digital by 1.4% in the fourth quarter. Vontobel Holding Ltd. now owns 11,804 shares of the data storage provider's stock worth $704,000 after buying an additional 164 shares in the last quarter. BNP Paribas boosted its stake in Western Digital by 0.6% during the fourth quarter. BNP Paribas now owns 26,415 shares of the data storage provider's stock valued at $1,575,000 after buying an additional 166 shares during the last quarter. Quarry LP grew its holdings in Western Digital by 22.6% during the 3rd quarter. Quarry LP now owns 932 shares of the data storage provider's stock valued at $64,000 after buying an additional 172 shares in the last quarter. Finally, Inspire Investing LLC increased its stake in Western Digital by 4.3% in the 4th quarter. Inspire Investing LLC now owns 4,324 shares of the data storage provider's stock worth $258,000 after acquiring an additional 177 shares during the last quarter. Institutional investors own 92.51% of the company's stock.
About Western Digital
(
Get Free Report)
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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