Brokerages Set Western Digital Co. (NASDAQ:WDC) PT at $74.14

Shares of Western Digital Co. (NASDAQ:WDCGet Rating) have earned an average rating of “Buy” from the twenty-four research firms that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $74.14.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Western Digital from a “buy” rating to a “hold” rating and set a $52.00 price target for the company. in a report on Monday, January 31st. UBS Group dropped their target price on shares of Western Digital from $62.00 to $58.00 in a report on Thursday, February 10th. Cowen reduced their target price on Western Digital from $70.00 to $60.00 in a report on Friday, January 28th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Western Digital from $81.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, January 28th. Finally, Barclays cut their price target on shares of Western Digital from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Friday, January 28th.

In other Western Digital news, Director Paula A. Price sold 4,150 shares of the stock in a transaction on Monday, January 31st. The stock was sold at an average price of $51.82, for a total value of $215,053.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Srinivasan Sivaram sold 11,380 shares of Western Digital stock in a transaction that occurred on Tuesday, February 15th. The stock was sold at an average price of $53.37, for a total transaction of $607,350.60. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of WDC. DNB Asset Management AS lifted its holdings in Western Digital by 15.6% in the 1st quarter. DNB Asset Management AS now owns 7,552,489 shares of the data storage provider’s stock valued at $374,981,000 after purchasing an additional 1,021,132 shares in the last quarter. Norges Bank purchased a new position in Western Digital in the 4th quarter valued at $202,707,000. Walleye Capital LLC boosted its holdings in Western Digital by 66.6% during the fourth quarter. Walleye Capital LLC now owns 24,124 shares of the data storage provider’s stock worth $1,573,000 after buying an additional 9,641 shares in the last quarter. C2C Wealth Management LLC acquired a new stake in shares of Western Digital during the fourth quarter valued at $313,000. Finally, JustInvest LLC increased its stake in shares of Western Digital by 30.5% during the 4th quarter. JustInvest LLC now owns 7,058 shares of the data storage provider’s stock valued at $460,000 after acquiring an additional 1,650 shares during the last quarter. Hedge funds and other institutional investors own 79.27% of the company’s stock.

NASDAQ WDC traded up $0.38 during trading hours on Friday, reaching $47.58. The company’s stock had a trading volume of 53,834 shares, compared to its average volume of 3,948,510. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.93 and a quick ratio of 1.19. The firm has a fifty day simple moving average of $50.65 and a 200-day simple moving average of $55.75. Western Digital has a 52 week low of $43.85 and a 52 week high of $78.19. The stock has a market cap of $14.89 billion, a P/E ratio of 7.51 and a beta of 1.59.

Western Digital (NASDAQ:WDCGet Rating) last announced its earnings results on Thursday, January 27th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.11. The firm had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.82 billion. Western Digital had a return on equity of 20.03% and a net margin of 10.52%. The business’s revenue was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.48 EPS. On average, research analysts expect that Western Digital will post 7.13 earnings per share for the current year.

Western Digital Company Profile (Get Rating)

Western Digital Corp. engages in the developing, manufacturing, marketing, and sale of data storage devices and solutions. It operates through the following product categories: Client Devices, Data Center Devices & Solutions, and Client Solutions. The Client Devices category includes mobile, desktop, gaming and digital video hard drives, solid state drives (SSDs), embedded products, and wafers.

Read More

Analyst Recommendations for Western Digital (NASDAQ:WDC)

Receive News & Ratings for Western Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Digital and related companies with MarketBeat.com's FREE daily email newsletter.