Western Digital (NASDAQ:WDC) Reaches New 52-Week Low - Should You Sell?

Western Digital Co. (NASDAQ:WDC - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $39.10 and last traded at $39.60, with a volume of 256987 shares. The stock had previously closed at $40.62.

Wall Street Analyst Weigh In

WDC has been the subject of a number of research analyst reports. Susquehanna decreased their price target 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. Morgan Stanley reduced their price target 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. The Goldman Sachs Group boosted their price objective on shares of Western Digital from $70.00 to $80.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Barclays lowered their price target on Western Digital from $90.00 to $80.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Finally, Wedbush restated an "outperform" rating and set a $95.00 price objective on shares of Western Digital in a report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $80.21.

Western Digital Stock Performance

The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $10.60 billion, a PE ratio of 7.27 and a beta of 1.39. The business has a 50 day simple moving average of $53.44 and a 200 day simple moving average of $61.74.

Western Digital (NASDAQ:WDC - Get Free Report) last released its earnings results on Wednesday, January 29th. The data storage provider reported $1.55 EPS 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%. Equities research analysts predict that Western Digital Co. will post 4.89 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Gene M. Zamiska sold 1,659 shares of the 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 sale, the senior vice president now owns 43,776 shares in the company, valued at $1,810,575.36. This represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Western Digital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WDC. Versant Capital Management Inc boosted its stake in shares of Western Digital by 278.9% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider's stock worth $25,000 after buying an additional 304 shares during the last quarter. Sierra Ocean LLC acquired a new stake in shares of Western Digital during the 4th quarter worth approximately $29,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Western Digital during the 4th quarter valued at approximately $30,000. OFI Invest Asset Management acquired a new position in shares of Western Digital in the 4th quarter valued at $36,000. Finally, Elequin Capital LP purchased a new stake in Western Digital during the fourth quarter worth $40,000. 92.51% of the stock is owned by institutional investors and hedge funds.

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.