Western Digital (NASDAQ:WDC - Free Report) had its price objective lowered by Mizuho from $82.00 to $68.00 in a research report report published on Thursday morning,Benzinga reports. Mizuho currently has an outperform rating on the data storage provider's stock.
A number of other analysts have also recently weighed in on the stock. UBS Group decreased their price target on shares of Western Digital from $74.00 to $50.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Susquehanna lowered their target price on Western Digital from $83.00 to $72.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. StockNews.com initiated coverage on Western Digital in a research report on Tuesday, April 8th. They set a "hold" rating on the stock. Robert W. Baird lowered their price objective on shares of Western Digital from $100.00 to $80.00 and set an "outperform" rating for the company in a research report on Thursday, January 30th. Finally, Rosenblatt Securities reduced their target price on shares of Western Digital from $115.00 to $95.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $76.16.
Check Out Our Latest Stock Analysis on Western Digital
Western Digital Trading Up 0.3 %
WDC stock traded up $0.11 during trading on Thursday, reaching $35.93. 2,461,383 shares of the stock traded hands, compared to its average volume of 9,303,008. The business's 50 day moving average price is $47.86 and its 200-day moving average price is $59.63. The firm has a market capitalization of $12.50 billion, a PE ratio of 8.55 and a beta of 1.39. 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 $61.16.
Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings results 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, sell-side analysts forecast that Western Digital will post 4.89 earnings per share for the current year.
Insiders Place Their Bets
In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of Western Digital stock in a transaction that occurred on Friday, March 7th. The stock was 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 directly owns 43,776 shares in the company, valued at $1,810,575.36. The trade was a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.30% of the stock is owned by corporate insiders.
Institutional Trading of Western Digital
Several hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc lifted its position in 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 purchasing an additional 304 shares during the last quarter. Sierra Ocean LLC bought a new stake in Western Digital during the 4th quarter valued at $29,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Western Digital during the fourth quarter valued at $30,000. OFI Invest Asset Management bought a new stake in shares of Western Digital during the fourth quarter valued at about $36,000. Finally, Elequin Capital LP bought a new position in Western Digital in the 4th quarter valued at about $40,000. Institutional investors own 92.51% of the company's stock.
Western Digital Company Profile
(
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.
Featured Articles
Before you consider Western Digital, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Western Digital wasn't on the list.
While Western Digital currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
