Western Digital Co. (NASDAQ:WDC - Get Free Report) SVP Gene M. Zamiska sold 443 shares of the firm's stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $75.00, for a total transaction of $33,225.00. Following the sale, the senior vice president now owns 30,958 shares of the company's stock, valued at approximately $2,321,850. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Western Digital Stock Performance
NASDAQ:WDC opened at $72.65 on Wednesday. The company has a fifty day simple moving average of $61.65 and a two-hundred day simple moving average of $52.82. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.67. Western Digital Co. has a 52 week low of $31.97 and a 52 week high of $76.92.
Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings results on Monday, January 29th. The data storage provider reported ($0.69) EPS for the quarter, topping the consensus estimate of ($1.30) by $0.61. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3 billion. Western Digital had a negative net margin of 19.90% and a negative return on equity of 19.45%. The company's quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.69) earnings per share. Sell-side analysts predict that Western Digital Co. will post -2.31 earnings per share for the current year.
Analyst Ratings Changes
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A number of brokerages have recently issued reports on WDC. Mizuho raised their price target on shares of Western Digital from $66.00 to $80.00 and gave the stock a "buy" rating in a report on Tuesday. Morgan Stanley raised their price target on shares of Western Digital from $52.00 to $73.00 and gave the stock an "overweight" rating in a report on Monday, January 22nd. UBS Group raised their price target on shares of Western Digital from $55.00 to $65.00 and gave the stock a "neutral" rating in a report on Wednesday, March 6th. StockNews.com downgraded shares of Western Digital from a "hold" rating to a "sell" rating in a report on Tuesday, February 20th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Western Digital from a "hold" rating to a "buy" rating and lifted their target price for the company from $45.00 to $65.00 in a report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $65.44.
Check Out Our Latest Stock Report on WDC
Institutional Investors Weigh In On Western Digital
Several institutional investors have recently modified their holdings of WDC. Rise Advisors LLC purchased a new stake in shares of Western Digital during the 1st quarter worth $25,000. ST Germain D J Co. Inc. purchased a new stake in shares of Western Digital during the 2nd quarter worth $26,000. Naples Money Management LLC purchased a new stake in shares of Western Digital during the 4th quarter worth $26,000. Janiczek Wealth Management LLC purchased a new stake in shares of Western Digital during the 3rd quarter worth $28,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in shares of Western Digital during the 4th quarter worth $30,000. 92.51% of the stock is owned by hedge funds and other institutional investors.
About Western Digital
(
Get Free Report)
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.
Further Reading
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