Western Digital Co. (NASDAQ:WDC) SVP Sells $300,888.00 in Stock

Western Digital Co. (NASDAQ:WDCGet Rating) SVP Gene M. Zamiska sold 4,776 shares of Western Digital stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $63.00, for a total transaction of $300,888.00. Following the completion of the transaction, the senior vice president now directly owns 26,719 shares in the company, valued at $1,683,297. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Western Digital stock opened at $59.45 on Friday. The stock has a market cap of $18.60 billion, a price-to-earnings ratio of 10.30 and a beta of 1.42. The firm’s 50-day moving average is $49.96 and its 200 day moving average is $55.11. Western Digital Co. has a 1 year low of $43.85 and a 1 year high of $78.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.09 and a quick ratio of 1.25.

Western Digital (NASDAQ:WDCGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The data storage provider reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.16. The company had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.34 billion. Western Digital had a net margin of 9.49% and a return on equity of 20.88%. Western Digital’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 EPS. On average, equities analysts expect that Western Digital Co. will post 7.26 EPS for the current fiscal year.

Several brokerages recently commented on WDC. Stifel Nicolaus lifted their target price on shares of Western Digital from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, April 12th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Western Digital from $70.00 to $63.00 and set a “buy” rating on the stock in a research note on Tuesday, April 19th. Susquehanna lifted their target price on shares of Western Digital from $50.00 to $66.00 in a research note on Wednesday. StockNews.com downgraded shares of Western Digital from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. Finally, Benchmark reduced their price objective on shares of Western Digital from $92.00 to $85.00 in a research report on Friday, April 29th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Western Digital has an average rating of “Buy” and an average price target of $68.67.

A number of institutional investors and hedge funds have recently bought and sold shares of WDC. Sanders Capital LLC bought a new position in Western Digital during the 3rd quarter valued at about $368,123,000. Norges Bank purchased a new stake in shares of Western Digital during the 4th quarter valued at about $202,707,000. DNB Asset Management AS increased its position in shares of Western Digital by 22.8% during the 4th quarter. DNB Asset Management AS now owns 6,531,357 shares of the data storage provider’s stock valued at $425,910,000 after purchasing an additional 1,213,542 shares during the last quarter. Artemis Investment Management LLP increased its position in shares of Western Digital by 631.2% during the 4th quarter. Artemis Investment Management LLP now owns 1,341,800 shares of the data storage provider’s stock valued at $87,438,000 after purchasing an additional 1,158,297 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Western Digital by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 9,302,622 shares of the data storage provider’s stock valued at $525,040,000 after purchasing an additional 994,582 shares during the last quarter. Institutional investors and hedge funds own 81.11% of the company’s stock.

About Western Digital (Get Rating)

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 computing devices, such as desktop and notebook personal computers (PCs), smart video systems, gaming consoles, and set top boxes; 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; and flash-based memory wafers.

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