Western Digital’s (WDC) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Western Digital (NASDAQ:WDC) in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has a $95.00 price objective on the data storage provider’s stock.

Several other analysts have also recently issued reports on WDC. Bank of America lowered their target price on shares of Western Digital from $89.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. BNP Paribas lowered their price objective on shares of Western Digital from $95.00 to $90.00 in a research report on Thursday, October 24th. Wedbush restated an “outperform” rating and set a $95.00 price objective on shares of Western Digital in a research report on Monday, February 10th. UBS Group raised their price objective on shares of Western Digital from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Finally, Mizuho lowered their price objective on shares of Western Digital from $90.00 to $82.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.42.

Western Digital Stock Performance

NASDAQ WDC opened at $71.29 on Tuesday. Western Digital has a 1 year low of $52.77 and a 1 year high of $81.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26. The stock has a market capitalization of $24.80 billion, a PE ratio of 16.97 and a beta of 1.44. The company’s 50 day simple moving average is $64.70 and its two-hundred day simple moving average is $65.45.

Western Digital (NASDAQ:WDC) last posted its earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. Analysts predict that Western Digital will post 4.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Western Digital news, SVP Gene M. Zamiska sold 658 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total value of $46,053.42. Following the sale, the senior vice president now owns 28,863 shares of the company’s stock, valued at $2,020,121.37. This trade represents a 2.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Western Digital

A number of large investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its holdings in Western Digital by 5.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,929 shares of the data storage provider’s stock worth $200,000 after acquiring an additional 149 shares during the last quarter. Mather Group LLC. grew its holdings in Western Digital by 7.0% in the 4th quarter. Mather Group LLC. now owns 2,416 shares of the data storage provider’s stock worth $144,000 after acquiring an additional 159 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in Western Digital by 1.4% in the 4th quarter. Vontobel Holding Ltd. now owns 11,804 shares of the data storage provider’s stock worth $704,000 after acquiring an additional 164 shares during the last quarter. BNP Paribas boosted its stake in shares of Western Digital by 0.6% during the 4th quarter. BNP Paribas now owns 26,415 shares of the data storage provider’s stock valued at $1,575,000 after purchasing an additional 166 shares in the last quarter. Finally, Quarry LP boosted its stake in shares of Western Digital by 22.6% during the 3rd quarter. Quarry LP now owns 932 shares of the data storage provider’s stock valued at $64,000 after purchasing an additional 172 shares in the last quarter. Institutional investors own 92.51% of the company’s stock.

Western Digital Company Profile

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.