Western Digital's (WDC) "Outperform" Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Western Digital (NASDAQ:WDC - Free Report) in a research report sent to investors on Monday, Marketbeat Ratings reports. Wedbush currently has a $95.00 target price on the data storage provider's stock.

A number of other equities research analysts also recently commented on the company. Susquehanna dropped their price objective on Western Digital from $83.00 to $72.00 and set a "neutral" rating for the company in a report on Thursday, January 30th. Citigroup reduced their price objective on shares of Western Digital from $82.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, January 30th. Benchmark downgraded shares of Western Digital from a "buy" rating to a "hold" rating and set a $70.00 target price for the company. in a research note on Thursday, December 19th. 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 report on Thursday, December 19th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $95.00 price objective on shares of Western Digital in a research report on Monday. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $84.42.

Western Digital Price Performance

Shares of NASDAQ WDC traded up $0.79 during mid-day trading on Monday, hitting $68.35. 4,224,793 shares of the stock were exchanged, compared to its average volume of 6,566,315. Western Digital has a twelve month low of $52.77 and a twelve month high of $81.55. The company has a market cap of $23.77 billion, a P/E ratio of 16.25 and a beta of 1.44. 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 stock's fifty day simple moving average is $64.60 and its two-hundred day simple moving average is $65.20.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate 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, analysts forecast that Western Digital will post 4.89 EPS for the current fiscal year.

Insider Transactions at Western Digital

In other news, SVP Gene M. Zamiska sold 658 shares of Western Digital stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total value of $46,053.42. Following the sale, the senior vice president now directly owns 28,863 shares in the company, valued at approximately $2,020,121.37. This trade represents a 2.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 1,347 shares of company stock worth $93,027. 0.30% of the stock is currently owned by insiders.

Institutional Trading of Western Digital

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc lifted its holdings in shares of Western Digital by 278.9% during the fourth 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 in the last quarter. Eastern Bank purchased a new stake in Western Digital in the third quarter worth approximately $27,000. Sierra Ocean LLC bought a new position in shares of Western Digital during the 4th quarter valued at $29,000. True Wealth Design LLC boosted its stake 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 worth $30,000 after buying an additional 415 shares during the last quarter. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of Western Digital in the fourth quarter worth $30,000. Hedge funds and other institutional investors own 92.51% of the company's stock.

Western Digital Company Profile

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.