Western Digital Co. (NASDAQ:WDC) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Western Digital Co. (NASDAQ:WDCGet Rating) have been assigned an average rating of “Hold” from the twenty-three analysts that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $49.81.

Several equities research analysts have commented on the company. Wedbush cut their price objective on Western Digital from $70.00 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday, October 25th. Rosenblatt Securities decreased their price objective on Western Digital from $45.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, September 16th. Robert W. Baird dropped their target price on shares of Western Digital from $55.00 to $50.00 in a report on Monday, October 31st. Benchmark decreased their price target on shares of Western Digital from $34.00 to $28.00 and set a “sell” rating on the stock in a research note on Friday, September 30th. Finally, StockNews.com cut shares of Western Digital from a “hold” rating to a “sell” rating in a research note on Monday, October 31st.

Insider Buying and Selling at Western Digital

In related news, SVP Gene M. Zamiska sold 2,169 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $40.90, for a total transaction of $88,712.10. Following the sale, the senior vice president now directly owns 31,554 shares of the company’s stock, valued at approximately $1,290,558.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Western Digital by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 36,628,762 shares of the data storage provider’s stock valued at $1,192,267,000 after acquiring an additional 355,610 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Western Digital by 143.0% during the third quarter. Price T Rowe Associates Inc. MD now owns 10,702,001 shares of the data storage provider’s stock worth $348,351,000 after purchasing an additional 6,297,603 shares in the last quarter. Sanders Capital LLC lifted its position in shares of Western Digital by 12.6% during the 3rd quarter. Sanders Capital LLC now owns 8,289,570 shares of the data storage provider’s stock worth $269,826,000 after buying an additional 928,721 shares during the last quarter. DNB Asset Management AS boosted its holdings in shares of Western Digital by 31.9% in the 3rd quarter. DNB Asset Management AS now owns 4,541,905 shares of the data storage provider’s stock valued at $147,839,000 after buying an additional 1,098,715 shares in the last quarter. Finally, Lyrical Asset Management LP grew its position in shares of Western Digital by 3.5% in the 1st quarter. Lyrical Asset Management LP now owns 4,110,650 shares of the data storage provider’s stock valued at $204,094,000 after buying an additional 140,181 shares during the last quarter. Hedge funds and other institutional investors own 84.57% of the company’s stock.

Western Digital Stock Up 0.9 %

Shares of NASDAQ WDC opened at $36.86 on Friday. Western Digital has a 52-week low of $31.56 and a 52-week high of $69.36. The company has a quick ratio of 1.05, a current ratio of 1.83 and a debt-to-equity ratio of 0.58. The company’s 50-day simple moving average is $35.57 and its 200-day simple moving average is $45.21. The firm has a market cap of $11.71 billion, a price-to-earnings ratio of 12.71 and a beta of 1.53.

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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Analyst Recommendations for Western Digital (NASDAQ:WDC)

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