Western Digital Co. (NASDAQ:WDC – Get Free Report) SVP Gene M. Zamiska sold 416 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $71.88, for a total transaction of $29,902.08. Following the sale, the senior vice president now owns 30,321 shares of the company’s stock, valued at $2,179,473.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Western Digital Stock Up 3.0 %
Shares of Western Digital stock opened at $75.74 on Thursday. Western Digital Co. has a 1 year low of $35.62 and a 1 year high of $76.92. The stock has a market cap of $24.73 billion, a price-to-earnings ratio of -14.80 and a beta of 1.53. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.86 and a quick ratio of 1.07. The firm’s 50-day moving average is $69.52 and its two-hundred day moving average is $58.72.
Western Digital (NASDAQ:WDC – Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The data storage provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.42. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.37 billion. Western Digital had a negative net margin of 12.87% and a negative return on equity of 13.75%. The company’s revenue was up 23.3% compared to the same quarter last year. During the same period last year, the business earned ($1.57) EPS. As a group, research analysts expect that Western Digital Co. will post -1.68 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Western Digital
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the stock. Barclays boosted their target price on shares of Western Digital from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Wells Fargo & Company boosted their target price on shares of Western Digital from $72.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. UBS Group boosted their target price on shares of Western Digital from $65.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. Citigroup initiated coverage on shares of Western Digital in a research report on Tuesday, May 14th. They set a “buy” rating and a $90.00 target price for the company. Finally, Cantor Fitzgerald upped their price target on shares of Western Digital from $70.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $78.32.
Get Our Latest Research Report on Western Digital
About Western Digital
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.
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