WDC has been the subject of several other research reports. Royal Bank of Canada reiterated an outperform rating and issued a $55.00 target price on shares of Western Digital in a research note on Thursday, March 28th. Zacks Investment Research lowered shares of Western Digital from a hold rating to a sell rating in a research report on Saturday, January 26th. BidaskClub lowered shares of Western Digital from a hold rating to a sell rating in a research report on Wednesday, March 27th. Citigroup reduced their price target on shares of Western Digital to $63.00 and set a buy rating for the company in a research report on Friday, January 25th. Finally, Cascend Securities upgraded shares of Western Digital from a hold rating to a buy rating and set a $58.00 price target for the company in a research report on Friday, February 22nd. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twelve have issued a buy rating to the company. Western Digital presently has a consensus rating of Hold and a consensus target price of $60.42.
Shares of NASDAQ WDC traded down $1.00 during trading on Wednesday, hitting $49.80. The stock had a trading volume of 357,420 shares, compared to its average volume of 5,895,371. Western Digital has a 12 month low of $33.83 and a 12 month high of $88.62. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.11 and a quick ratio of 1.45. The firm has a market cap of $14.88 billion, a price-to-earnings ratio of 3.68, a PEG ratio of 0.58 and a beta of 1.49.
Western Digital (NASDAQ:WDC) last posted its earnings results on Monday, April 29th. The data storage provider reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.29). Western Digital had a return on equity of 19.87% and a net margin of 1.10%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the previous year, the company earned $3.63 EPS. The business’s revenue was down 26.7% compared to the same quarter last year. On average, research analysts anticipate that Western Digital will post 4.64 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 annualized dividend and a yield of 4.02%. Western Digital’s payout ratio is presently 14.80%.
In other news, insider Mark P. Long sold 17,623 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $50.00, for a total transaction of $881,150.00. Following the transaction, the insider now owns 158,744 shares of the company’s stock, valued at approximately $7,937,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.36% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Alpha Omega Wealth Management LLC raised its stake in shares of Western Digital by 4,440.0% in the fourth quarter. Alpha Omega Wealth Management LLC now owns 681 shares of the data storage provider’s stock worth $25,000 after purchasing an additional 666 shares during the last quarter. First Interstate Bank lifted its position in Western Digital by 159.2% during the first quarter. First Interstate Bank now owns 578 shares of the data storage provider’s stock worth $28,000 after buying an additional 355 shares in the last quarter. Ropes Wealth Advisors LLC raised its position in Western Digital by 706.0% in the fourth quarter. Ropes Wealth Advisors LLC now owns 806 shares of the data storage provider’s stock valued at $30,000 after purchasing an additional 706 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in Western Digital by 57.0% in the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 650 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 236 shares during the period. Finally, Investors Research Corp purchased a new stake in Western Digital in the first quarter valued at $36,000. Institutional investors own 84.57% of the company’s stock.
About Western Digital
Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance 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, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.
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