Western Digital (WDC) Getting Somewhat Positive News Coverage, Analysis Shows

Headlines about Western Digital (NASDAQ:WDC) have trended somewhat positive on Wednesday, Accern Sentiment reports. Accern identifies positive and negative press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Western Digital earned a news sentiment score of 0.17 on Accern’s scale. Accern also gave media coverage about the data storage provider an impact score of 45.1163502134259 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.

These are some of the headlines that may have impacted Accern’s scoring:

Shares of Western Digital (WDC) traded up $0.29 during trading on Wednesday, reaching $80.91. 4,941,137 shares of the company’s stock were exchanged, compared to its average volume of 4,490,000. Western Digital has a 12 month low of $69.10 and a 12 month high of $95.77. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.13 and a current ratio of 2.64. The stock has a market capitalization of $23,880.00, a PE ratio of 16.89, a PEG ratio of 0.27 and a beta of 1.12.

Western Digital (NASDAQ:WDC) last issued its earnings results on Thursday, October 26th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.01 by $0.55. Western Digital had a net margin of 7.38% and a return on equity of 26.48%. The company had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.13 billion. During the same period last year, the company posted $1.18 earnings per share. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. research analysts predict that Western Digital will post 12.21 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a $0.50 dividend. The ex-dividend date is Thursday, December 28th. This represents a $2.00 dividend on an annualized basis and a yield of 2.47%. Western Digital’s dividend payout ratio (DPR) is presently 41.75%.

Western Digital declared that its Board of Directors has initiated a share buyback plan on Thursday, November 9th that authorizes the company to repurchase $2.10 billion in shares. This repurchase authorization authorizes the data storage provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Several equities research analysts have recently weighed in on WDC shares. Mizuho reiterated a “buy” rating and set a $105.00 target price on shares of Western Digital in a research note on Sunday, October 8th. Vetr cut shares of Western Digital from a “strong-buy” rating to a “buy” rating and set a $98.49 price target for the company. in a report on Monday, October 30th. Zacks Investment Research raised shares of Western Digital from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Cowen reissued an “outperform” rating and set a $117.00 price target on shares of Western Digital in a report on Thursday, September 21st. Finally, Robert W. Baird cut shares of Western Digital from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $120.00 to $93.00 in a report on Monday, October 2nd. Ten analysts have rated the stock with a hold rating, twenty-three have given a buy rating and three have given a strong buy rating to the stock. Western Digital currently has a consensus rating of “Buy” and an average target price of $112.10.

In other news, insider Michael D. Cordano sold 1,401 shares of the stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $85.00, for a total value of $119,085.00. Following the sale, the insider now directly owns 70,560 shares in the company, valued at $5,997,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael D. Cordano sold 1,397 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $88.13, for a total transaction of $123,117.61. Following the completion of the sale, the insider now owns 70,556 shares in the company, valued at $6,218,100.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,039 shares of company stock valued at $1,400,999. 0.31% of the stock is currently owned by corporate insiders.

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About Western Digital

Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions).

Insider Buying and Selling by Quarter for Western Digital (NASDAQ:WDC)

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