UBS Group Issues Positive Forecast for Western Digital (NASDAQ:WDC) Stock Price

Western Digital (NASDAQ:WDC) had its price objective increased by UBS Group from $70.00 to $74.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the data storage provider’s stock.

WDC has been the topic of several other research reports. BNP Paribas reduced their price target on shares of Western Digital from $95.00 to $90.00 in a research report on Thursday, October 24th. The Goldman Sachs Group lifted their target price on shares of Western Digital from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Wells Fargo & Company lowered their price target on Western Digital from $95.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Benchmark downgraded Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price target on the stock. in a research note on Thursday, December 19th. Finally, Morgan Stanley decreased their price objective on Western Digital from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $84.42.

Western Digital Trading Down 2.4 %

NASDAQ:WDC opened at $67.28 on Wednesday. Western Digital has a 52 week low of $52.77 and a 52 week high of $81.55. 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 firm’s fifty day moving average is $64.69 and its 200-day moving average is $65.18. The firm has a market cap of $23.40 billion, a P/E ratio of 16.02 and a beta of 1.44.

Western Digital (NASDAQ:WDC) last released its earnings results 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 net margin of 9.95% and a return on equity of 15.68%. Equities analysts expect that Western Digital will post 4.89 earnings per share for the current year.

Insider Activity

In related news, SVP Gene M. Zamiska sold 658 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total transaction of $46,053.42. Following the transaction, the senior vice president now directly owns 28,863 shares in the company, valued at approximately $2,020,121.37. The trade was a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 1,347 shares of company stock worth $93,027 over the last quarter. 0.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Western Digital

Hedge funds have recently bought and sold shares of the business. First Horizon Advisors Inc. grew its position in shares of Western Digital by 5.4% in the third quarter. First Horizon Advisors Inc. now owns 2,929 shares of the data storage provider’s stock valued at $200,000 after purchasing an additional 149 shares in the last quarter. Mather Group LLC. increased its stake in shares of Western Digital by 7.0% in the 4th quarter. Mather Group LLC. now owns 2,416 shares of the data storage provider’s stock worth $144,000 after acquiring an additional 159 shares during the last quarter. Vontobel Holding Ltd. boosted its position in shares of Western Digital by 1.4% during the 4th quarter. Vontobel Holding Ltd. now owns 11,804 shares of the data storage provider’s stock valued at $704,000 after acquiring an additional 164 shares during the last quarter. Quarry LP increased its position in Western Digital by 22.6% during the third quarter. Quarry LP now owns 932 shares of the data storage provider’s stock worth $64,000 after purchasing an additional 172 shares during the last quarter. Finally, Inspire Investing LLC raised its stake in Western Digital by 4.3% during the fourth quarter. Inspire Investing LLC now owns 4,324 shares of the data storage provider’s stock worth $258,000 after purchasing an additional 177 shares during the period. Institutional investors and hedge funds own 92.51% of the company’s stock.

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.