Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska Sells 1,659 Shares

Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska sold 1,659 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $41.36, for a total value of $68,616.24. Following the transaction, the senior vice president now directly owns 43,776 shares in the company, valued at $1,810,575.36. This trade represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Western Digital Stock Performance

Shares of WDC opened at $41.80 on Wednesday. The business’s fifty day moving average price is $60.91 and its 200 day moving average price is $64.21. Western Digital Co. has a 12-month low of $39.42 and a 12-month high of $61.16. The stock has a market capitalization of $14.54 billion, a PE ratio of 9.95 and a beta of 1.42. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26.

Western Digital (NASDAQ:WDC) last announced 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%. Equities research analysts forecast that Western Digital Co. will post 4.89 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on WDC shares. StockNews.com started coverage on Western Digital in a report on Wednesday, February 26th. They issued a “buy” rating for the company. Barclays decreased their price target on Western Digital from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Bank of America decreased their price target on Western Digital from $89.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Benchmark cut Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price target for the company. in a report on Thursday, December 19th. Finally, Mizuho dropped their price objective on Western Digital from $90.00 to $82.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.47.

Institutional Investors Weigh In On Western Digital

A number of hedge funds have recently added to or reduced their stakes in WDC. Versant Capital Management Inc increased 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 during the period. Sierra Ocean LLC acquired a new position in Western Digital during the fourth quarter worth about $29,000. True Wealth Design LLC grew its holdings in Western Digital by 2,184.2% during the third quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock worth $30,000 after acquiring an additional 415 shares during the period. Comprehensive Financial Planning Inc. PA acquired a new position in Western Digital during the fourth quarter worth about $30,000. Finally, OFI Invest Asset Management acquired a new position in Western Digital during the fourth quarter worth about $36,000. 92.51% of the stock is currently owned by institutional investors.

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.