BidaskClub upgraded shares of Western Digital Corporation (NASDAQ:WDC) from a hold rating to a buy rating in a report released on Tuesday, October 17th.
A number of other research analysts have also weighed in on the stock. Vetr lowered shares of Western Digital Corporation from a strong-buy rating to a buy rating and set a $93.86 price target on the stock. in a research note on Tuesday, October 10th. ValuEngine lowered shares of Western Digital Corporation from a strong-buy rating to a buy rating in a research note on Friday, September 1st. Goldman Sachs Group, Inc. (The) reissued a neutral rating and issued a $88.00 target price on shares of Western Digital Corporation in a research note on Tuesday, October 10th. Maxim Group reissued a buy rating and issued a $108.00 target price on shares of Western Digital Corporation in a research note on Wednesday, June 21st. Finally, Mizuho reissued a buy rating and issued a $105.00 target price on shares of Western Digital Corporation in a research note on Tuesday, September 5th. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $114.33.
Western Digital Corporation (WDC) opened at 87.11 on Tuesday. The stock has a 50 day moving average price of $86.49 and a 200 day moving average price of $87.71. Western Digital Corporation has a 12 month low of $54.26 and a 12 month high of $95.77. The stock has a market capitalization of $25.69 billion, a P/E ratio of 65.01 and a beta of 1.24.
Western Digital Corporation (NASDAQ:WDC) last posted its earnings results on Thursday, October 26th. The data storage provider reported $3.56 EPS for the quarter, beating the Zacks’ consensus estimate of $3.01 by $0.55. Western Digital Corporation had a return on equity of 27.08% and a net margin of 7.38%. The firm had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same period last year, the firm earned $1.18 EPS. The company’s quarterly revenue was up 9.9% on a year-over-year basis. Equities analysts predict that Western Digital Corporation will post $12.42 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, September 28th. This represents a $2.00 annualized dividend and a yield of 2.30%. Western Digital Corporation’s dividend payout ratio (DPR) is 41.75%.
In other news, insider Mark P. Long sold 19,777 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $84.50, for a total value of $1,671,156.50. Following the completion of the sale, the insider now directly owns 90,683 shares of the company’s stock, valued at approximately $7,662,713.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jacqueline Demaria sold 14,358 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $84.53, for a total value of $1,213,681.74. Following the completion of the sale, the executive vice president now directly owns 75,772 shares of the company’s stock, valued at $6,405,007.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,679 shares of company stock worth $6,561,639. 0.31% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Buckingham Capital Management Inc. bought a new stake in shares of Western Digital Corporation in the 2nd quarter valued at about $1,754,000. Korea Investment CORP increased its stake in shares of Western Digital Corporation by 14.7% in the 2nd quarter. Korea Investment CORP now owns 595,049 shares of the data storage provider’s stock valued at $52,721,000 after acquiring an additional 76,459 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Western Digital Corporation by 18.3% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 67,329 shares of the data storage provider’s stock valued at $5,965,000 after acquiring an additional 10,428 shares during the last quarter. Capital Analysts LLC bought a new stake in shares of Western Digital Corporation in the 2nd quarter valued at about $2,777,000. Finally, Calamos Advisors LLC increased its stake in shares of Western Digital Corporation by 2.7% in the 2nd quarter. Calamos Advisors LLC now owns 45,377 shares of the data storage provider’s stock valued at $4,020,000 after acquiring an additional 1,201 shares during the last quarter. 82.58% of the stock is owned by institutional investors.
Western Digital Corporation Company Profile
Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions).
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