Cantor Fitzgerald reiterated their overweight rating on shares of Western Digital (NASDAQ:WDC – Free Report) in a report published on Thursday morning,Benzinga reports. Cantor Fitzgerald currently has a $95.00 target price on the data storage provider’s stock.
A number of other research firms have also recently issued reports on WDC. UBS Group cut their price objective on shares of Western Digital from $74.00 to $72.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Rosenblatt Securities dropped their price objective on Western Digital from $115.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday. Bank of America reduced their target price on shares of Western Digital from $89.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. The Goldman Sachs Group dropped their price target on shares of Western Digital from $81.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, Wells Fargo & Company reduced their price objective on shares of Western Digital from $95.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Western Digital currently has a consensus rating of “Moderate Buy” and an average price target of $83.68.
View Our Latest Analysis on Western Digital
Western Digital Stock Up 4.7 %
Western Digital (NASDAQ:WDC – Get Free Report) last released its earnings results on Wednesday, January 29th. The data storage provider reported $1.55 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a return on equity of 16.13% and a net margin of 9.95%. On average, research analysts forecast that Western Digital will post 5.37 EPS for the current year.
Insider Transactions at Western Digital
In other news, SVP Gene M. Zamiska sold 658 shares of the 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 completion of the sale, the senior vice president now directly owns 28,863 shares in the company, valued at approximately $2,020,121.37. This represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 1,347 shares of company stock worth $93,027. 0.30% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Western Digital
Several hedge funds have recently bought and sold shares of the business. Aigen Investment Management LP increased its holdings in shares of Western Digital by 124.2% during the third quarter. Aigen Investment Management LP now owns 21,412 shares of the data storage provider’s stock valued at $1,462,000 after acquiring an additional 11,860 shares in the last quarter. Avala Global LP lifted its stake in shares of Western Digital by 49.0% in the third quarter. Avala Global LP now owns 1,147,700 shares of the data storage provider’s stock worth $78,376,000 after buying an additional 377,500 shares in the last quarter. Swedbank AB raised its holdings in Western Digital by 19.7% in the 3rd quarter. Swedbank AB now owns 291,777 shares of the data storage provider’s stock worth $19,925,000 after acquiring an additional 47,965 shares during the last quarter. KBC Group NV lifted its position in Western Digital by 11.2% in the 3rd quarter. KBC Group NV now owns 277,010 shares of the data storage provider’s stock valued at $18,917,000 after acquiring an additional 27,849 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Western Digital by 137.9% during the third quarter. Janney Montgomery Scott LLC now owns 43,575 shares of the data storage provider’s stock valued at $2,976,000 after buying an additional 25,262 shares during the last quarter. Institutional investors 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.
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