Western Digital Co. (NASDAQ:WDC) Receives $84.42 Average PT from Brokerages

Western Digital Co. (NASDAQ:WDC) has earned a consensus rating of “Moderate Buy” from the twenty ratings firms that are currently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $84.42.

Several equities research analysts have recently weighed in on the stock. Susquehanna lowered their target price on shares of Western Digital from $83.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Barclays reduced their price target on shares of Western Digital from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Benchmark downgraded shares of Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price target on the stock. in a research report on Thursday, December 19th. Morgan Stanley reduced their price target on shares of Western Digital from $100.00 to $93.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Citigroup reduced their price target on shares of Western Digital from $82.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th.

Western Digital Price Performance

NASDAQ WDC opened at $68.71 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $23.90 billion, a PE ratio of 16.36 and a beta of 1.44. The company has a 50 day moving average price of $64.78 and a two-hundred day moving average price of $65.66. Western Digital has a 12-month low of $52.77 and a 12-month high of $81.55.

Western Digital (NASDAQ:WDC) last announced its earnings results 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, equities analysts predict that Western Digital will post 4.89 earnings per share for the current fiscal year.

Insider Activity

In other Western Digital news, SVP Gene M. Zamiska sold 658 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total value of $46,053.42. Following the completion of the transaction, the senior vice president now owns 28,863 shares in the company, valued at $2,020,121.37. This trade represents a 2.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.30% of the company’s stock.

Institutional Trading of Western Digital

A number of large investors have recently modified their holdings of the business. Norges Bank purchased a new position in shares of Western Digital during the 4th quarter valued at about $352,572,000. AMF Tjanstepension AB purchased a new position in shares of Western Digital during the 4th quarter valued at about $94,181,000. Vanguard Group Inc. increased its stake in Western Digital by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 42,459,767 shares of the data storage provider’s stock worth $2,531,876,000 after purchasing an additional 1,439,149 shares during the period. Freestone Grove Partners LP purchased a new position in Western Digital in the 4th quarter worth approximately $68,950,000. Finally, Atalan Capital Partners LP purchased a new position in Western Digital in the 4th quarter worth approximately $62,612,000. Institutional investors own 92.51% of the company’s stock.

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.