News coverage about Western Digital (NASDAQ:WDC) has trended somewhat positive on Saturday, Accern reports. The research firm rates the sentiment of news coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Western Digital earned a coverage optimism score of 0.23 on Accern’s scale. Accern also gave news headlines about the data storage provider an impact score of 46.2276236341523 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
These are some of the headlines that may have effected Accern Sentiment’s scoring:
- Capital Analysts LLC Sells 24,295 Shares of Western Digital Corp (WDC) (americanbankingnews.com)
- Group seeks investigation into Zinke’s ties to gun company (wdtimes.com)
- Western Digital vs. Seagate: Only One Is a Buy (finance.yahoo.com)
- Western Digital stock jumps after Stifel resumes coverage with buy rating (finance.yahoo.com)
- Research Report Identifies SkyWest, National Beverage, Ameriprise Financial Services, Live Nation Entertainment, Paratek Pharmaceuticals, and Western Digital with Renewed Outlook — Fundamental Analysi (markets.financialcontent.com)
Several analysts recently commented on the stock. Citigroup increased their target price on shares of Western Digital from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Zacks Investment Research raised shares of Western Digital from a “hold” rating to a “strong-buy” rating and set a $103.00 target price for the company in a research note on Wednesday, November 1st. Cowen set a $117.00 target price on shares of Western Digital and gave the company an “outperform” rating in a research note on Tuesday, January 23rd. Maxim Group reissued a “buy” rating and set a $124.00 target price on shares of Western Digital in a research note on Friday, October 27th. Finally, Vetr lowered shares of Western Digital from a “strong-buy” rating to a “buy” rating and set a $97.62 target price for the company. in a research note on Monday, November 13th. Thirteen research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the stock. Western Digital has an average rating of “Buy” and a consensus target price of $111.29.
Western Digital (NASDAQ WDC) traded up $3.61 during trading on Friday, reaching $89.14. 4,253,985 shares of the company’s stock traded hands, compared to its average volume of 4,380,000. The firm has a market cap of $27,640.00, a price-to-earnings ratio of 13.67, a PEG ratio of 0.36 and a beta of 1.13. The company has a current ratio of 2.55, a quick ratio of 2.03 and a debt-to-equity ratio of 1.04. Western Digital has a 1 year low of $71.38 and a 1 year high of $95.77.
Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, January 25th. The data storage provider reported $3.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.51 by $0.44. The firm had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.31 billion. Western Digital had a net margin of 14.04% and a return on equity of 25.75%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.30 EPS. research analysts expect that Western Digital will post 12.62 EPS for the current fiscal year.
Western Digital declared that its board has authorized a stock buyback plan on Thursday, November 9th that authorizes the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization authorizes the data storage provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 30th will be paid a $0.50 dividend. The ex-dividend date is Thursday, March 29th. This represents a $2.00 annualized dividend and a yield of 2.24%. Western Digital’s dividend payout ratio is presently 30.67%.
In other news, CEO Stephen D. Milligan sold 90,755 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $88.12, for a total transaction of $7,997,330.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael D. Cordano sold 1,401 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $85.00, for a total transaction of $119,085.00. Following the transaction, the insider now owns 70,560 shares in the company, valued at approximately $5,997,600. The disclosure for this sale can be found here. In the last quarter, insiders sold 163,394 shares of company stock worth $14,227,197. Company insiders own 0.31% of the company’s stock.
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Western Digital Company Profile
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).
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