Shares of Western Digital Co. (NASDAQ:WDC - Get Free Report) reached a new 52-week low during trading on Monday . The company traded as low as $28.83 and last traded at $28.87, with a volume of 656247 shares changing hands. The stock had previously closed at $30.54.
Wall Street Analyst Weigh In
WDC has been the subject of several recent analyst reports. Cantor Fitzgerald decreased their target price on shares of Western Digital from $95.00 to $65.00 and set an "overweight" rating for the company in a report on Friday, March 7th. StockNews.com started coverage on shares of Western Digital in a research note on Tuesday. They issued a "hold" rating for the company. Morgan Stanley cut their target price on shares of Western Digital from $100.00 to $93.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. UBS Group decreased their target price on Western Digital from $74.00 to $50.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Finally, Bank of America dropped their price target on Western Digital from $89.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $77.00.
View Our Latest Research Report on Western Digital
Western Digital Stock Down 1.3 %
The stock has a market cap of $11.97 billion, a price-to-earnings ratio of 8.19 and a beta of 1.39. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99. The firm's 50-day simple moving average is $48.44 and its two-hundred day simple moving average is $59.94.
Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly 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 net margin of 9.95% and a return on equity of 15.68%. On average, sell-side analysts expect that Western Digital Co. will post 4.89 EPS for the current fiscal year.
Insider Transactions at Western Digital
In related news, SVP Gene M. Zamiska sold 1,659 shares of Western Digital stock in a transaction on Friday, March 7th. The stock was sold at an average price of $41.36, for a total transaction of $68,616.24. Following the completion of the sale, the senior vice president now directly owns 43,776 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Western Digital
Several institutional investors have recently modified their holdings of WDC. Gateway Investment Advisers LLC acquired a new stake in Western Digital in the first quarter worth $4,864,000. Czech National Bank raised its stake in Western Digital by 6.6% during the 1st quarter. Czech National Bank now owns 79,889 shares of the data storage provider's stock worth $3,230,000 after buying an additional 4,932 shares during the period. Rhumbline Advisers raised its stake in Western Digital by 7.3% during the 1st quarter. Rhumbline Advisers now owns 674,874 shares of the data storage provider's stock worth $27,285,000 after buying an additional 46,202 shares during the period. GAMMA Investing LLC lifted its holdings in Western Digital by 3,470.0% during the first quarter. GAMMA Investing LLC now owns 253,294 shares of the data storage provider's stock worth $10,241,000 after acquiring an additional 246,199 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in Western Digital by 879.4% in the first quarter. Versant Capital Management Inc now owns 4,045 shares of the data storage provider's stock valued at $164,000 after acquiring an additional 3,632 shares during the period. 92.51% of the stock is currently owned by institutional investors and hedge funds.
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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