Western Digital (NASDAQ:WDC) PT Raised to $80.00

Western Digital (NASDAQ:WDCGet Rating) had its price target boosted by research analysts at Evercore ISI from $60.00 to $80.00 in a report issued on Thursday, The Fly reports. Evercore ISI’s target price would indicate a potential upside of 32.71% from the company’s current price.

Other research analysts have also issued reports about the company. Benchmark cut their target price on Western Digital from $92.00 to $85.00 in a research note on Friday, April 29th. Cowen upped their target price on Western Digital from $60.00 to $65.00 in a research note on Friday, April 29th. Mizuho cut their target price on Western Digital from $78.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, March 14th. Barclays increased their price objective on Western Digital from $60.00 to $65.00 in a research note on Friday, April 29th. Finally, Susquehanna increased their price objective on Western Digital from $50.00 to $66.00 in a research note on Wednesday, May 4th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $69.72.

Shares of NASDAQ WDC opened at $60.28 on Thursday. The firm has a 50-day moving average of $53.69 and a two-hundred day moving average of $55.41. The company has a current ratio of 2.09, a quick ratio of 1.25 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $18.88 billion, a price-to-earnings ratio of 10.45 and a beta of 1.41. Western Digital has a twelve month low of $43.85 and a twelve month high of $78.19.

Western Digital (NASDAQ:WDCGet Rating) last released its quarterly earnings data on Thursday, April 28th. The data storage provider reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.14. Western Digital had a return on equity of 20.88% and a net margin of 9.49%. The firm had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. The firm’s revenue was up 5.9% on a year-over-year basis. As a group, research analysts predict that Western Digital will post 7.26 earnings per share for the current year.

In other Western Digital news, SVP Gene M. Zamiska sold 4,776 shares of the 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 sale, the senior vice president now owns 26,719 shares in the company, valued at $1,683,297. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Large investors have recently made changes to their positions in the company. Addison Advisors LLC lifted its holdings in Western Digital by 6,375.0% in the first quarter. Addison Advisors LLC now owns 518 shares of the data storage provider’s stock worth $26,000 after buying an additional 510 shares during the period. Paragon Capital Management Ltd bought a new stake in Western Digital in the 4th quarter worth approximately $28,000. Confluence Wealth Services Inc. bought a new stake in shares of Western Digital during the 4th quarter valued at $32,000. Quadrant Capital Group LLC grew its position in shares of Western Digital by 74.2% during the 4th quarter. Quadrant Capital Group LLC now owns 526 shares of the data storage provider’s stock valued at $34,000 after acquiring an additional 224 shares during the period. Finally, Herold Advisors Inc. purchased a new position in shares of Western Digital during the 1st quarter valued at $40,000. 81.11% of the stock is currently owned by hedge funds and other institutional investors.

Western Digital Company Profile (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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