Western Digital Corp (NASDAQ:WDC) COO Michael D. Cordano sold 5,625 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.01, for a total value of $309,431.25. Following the completion of the transaction, the chief operating officer now owns 281,344 shares of the company’s stock, valued at $15,476,733.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
WDC stock opened at $53.72 on Thursday. The company has a market cap of $15.93 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 14.84 and a beta of 1.82. The company has a quick ratio of 1.22, a current ratio of 1.98 and a debt-to-equity ratio of 1.04. The business has a fifty day simple moving average of $58.79 and a 200-day simple moving average of $52.10. Western Digital Corp has a 52 week low of $33.83 and a 52 week high of $65.31.
Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Wednesday, October 30th. The data storage provider reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.41. The business had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.92 billion. Western Digital had a positive return on equity of 3.28% and a negative net margin of 9.89%. The business’s revenue for the quarter was down 19.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.04 EPS. As a group, analysts expect that Western Digital Corp will post 1.6 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the company. Rational Advisors LLC boosted its position in Western Digital by 601.6% during the 3rd quarter. Rational Advisors LLC now owns 4,820 shares of the data storage provider’s stock worth $287,000 after purchasing an additional 4,133 shares during the period. Harvest Investment Services LLC purchased a new stake in Western Digital during the 3rd quarter worth $246,000. Corient Capital Partners LLC boosted its position in Western Digital by 4.7% during the 3rd quarter. Corient Capital Partners LLC now owns 9,745 shares of the data storage provider’s stock worth $581,000 after purchasing an additional 441 shares during the period. Eqis Capital Management Inc. boosted its position in Western Digital by 31.9% during the 3rd quarter. Eqis Capital Management Inc. now owns 32,235 shares of the data storage provider’s stock worth $1,922,000 after purchasing an additional 7,787 shares during the period. Finally, Mason Street Advisors LLC boosted its position in Western Digital by 0.9% during the 3rd quarter. Mason Street Advisors LLC now owns 42,171 shares of the data storage provider’s stock worth $2,515,000 after purchasing an additional 384 shares during the period. Institutional investors and hedge funds own 84.60% of the company’s stock.
Several research analysts have weighed in on WDC shares. Loop Capital upgraded Western Digital from a “hold” rating to a “buy” rating and boosted their price target for the company from $50.00 to $75.00 in a report on Monday, October 14th. BidaskClub downgraded Western Digital from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 21st. Cowen reiterated a “market perform” rating and issued a $45.00 price target (up from $40.00) on shares of Western Digital in a report on Thursday, August 1st. Wedbush upgraded Western Digital from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $32.50 to $54.50 in a report on Thursday, August 1st. Finally, Craig Hallum boosted their price target on Western Digital from $64.00 to $88.00 and gave the company a “buy” rating in a report on Friday, September 6th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $61.66.
Western Digital Company Profile
Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.
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