Western Digital Co. (NASDAQ:WDC) Receives $77.00 Average PT from Brokerages

Western Digital Co. (NASDAQ:WDC) has received an average rating of “Moderate Buy” from the twenty brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $73.68.

Several research analysts have commented on WDC shares. Wells Fargo & Company reissued a “neutral” rating on shares of Western Digital in a report on Friday, April 11th. Barclays lowered their price target on Western Digital from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Morgan Stanley initiated coverage on shares of Western Digital in a research note on Wednesday. They issued an “overweight” rating and a $46.00 target price on the stock. Wedbush reissued an “underperform” rating on shares of Western Digital in a report on Friday, April 11th. Finally, The Goldman Sachs Group lifted their price objective 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.

Western Digital Trading Up 2.5 %

Shares of WDC stock opened at $36.51 on Friday. Western Digital has a 1 year low of $28.83 and a 1 year high of $81.55. The company’s fifty day simple moving average is $45.41 and its two-hundred day simple moving average is $58.88. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26. The stock has a market capitalization of $12.70 billion, a price-to-earnings ratio of 8.69 and a beta of 1.39.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. As a group, analysts anticipate that Western Digital will post 4.89 earnings per share for the current year.

Insider Buying and Selling at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $41.36, for a total value of $68,616.24. Following the sale, the senior vice president now owns 43,776 shares in the company, valued at approximately $1,810,575.36. This represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.30% of the company’s stock.

Institutional Trading of Western Digital

Hedge funds have recently made changes to their positions in the stock. Mather Group LLC. grew its stake in shares of Western Digital by 7.0% in the fourth 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. grew its position in 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 purchasing an additional 164 shares during the last quarter. BNP Paribas raised its holdings in Western Digital by 0.6% in the fourth quarter. BNP Paribas now owns 26,415 shares of the data storage provider’s stock worth $1,575,000 after buying an additional 166 shares during the last quarter. Inspire Investing LLC lifted its stake in shares of Western Digital by 4.3% in the fourth quarter. Inspire Investing LLC now owns 4,324 shares of the data storage provider’s stock worth $258,000 after buying an additional 177 shares in the last quarter. Finally, Beta Wealth Group Inc. grew its holdings in shares of Western Digital by 2.5% during the fourth quarter. Beta Wealth Group Inc. now owns 8,300 shares of the data storage provider’s stock valued at $495,000 after buying an additional 200 shares during the last quarter. 92.51% of the stock is owned by institutional investors.

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.