Western Digital Corp. (NASDAQ:WDC)‘s stock had its “top pick” rating reiterated by stock analysts at Barclays PLC in a note issued to investors on Thursday.
WDC has been the topic of several other research reports. Longbow Research upgraded Western Digital Corp. from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Tuesday, September 13th. Vetr downgraded Western Digital Corp. from a “strong-buy” rating to a “buy” rating and set a $51.50 price target on the stock. in a research note on Monday, August 29th. Mizuho dropped their price target on Western Digital Corp. from $56.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, August 25th. Argus reiterated a “buy” rating and set a $60.00 price target on shares of Western Digital Corp. in a research note on Saturday, September 10th. Finally, Citigroup Inc. set a $65.00 price target on Western Digital Corp. and gave the company a “buy” rating in a research note on Wednesday, September 7th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company. Western Digital Corp. has an average rating of “Buy” and a consensus target price of $62.06.
Shares of Western Digital Corp. (NASDAQ:WDC) traded up 0.45% during mid-day trading on Thursday, reaching $58.27. The company had a trading volume of 5,317,953 shares. Western Digital Corp. has a 52 week low of $34.99 and a 52 week high of $86.39. The stock has a 50 day moving average of $49.93 and a 200-day moving average of $46.65. The company has a market capitalization of $16.56 billion, a price-to-earnings ratio of 58.27 and a beta of 1.37.
Western Digital Corp. (NASDAQ:WDC) last announced its earnings results on Thursday, July 28th. The data storage provider reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.08. Western Digital Corp. had a return on equity of 12.42% and a net margin of 1.98%. The firm had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same period in the previous year, the business earned $1.51 EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, analysts expect that Western Digital Corp. will post $4.56 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend is Wednesday, September 28th. Western Digital Corp.’s dividend payout ratio (DPR) is currently 158.73%.
In other news, insider Michael D. Cordano sold 7,185 shares of Western Digital Corp. stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $54.50, for a total transaction of $391,582.50. Following the sale, the insider now owns 82,988 shares in the company, valued at $4,522,846. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. boosted its stake in Western Digital Corp. by 84.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 2,180 shares of the data storage provider’s stock worth $103,000 after buying an additional 1,000 shares during the period. Checchi Capital Advisers LLC boosted its stake in Western Digital Corp. by 5.1% in the second quarter. Checchi Capital Advisers LLC now owns 2,197 shares of the data storage provider’s stock worth $104,000 after buying an additional 107 shares during the period. Amica Retiree Medical Trust boosted its stake in Western Digital Corp. by 28.9% in the second quarter. Amica Retiree Medical Trust now owns 2,203 shares of the data storage provider’s stock worth $104,000 after buying an additional 494 shares during the period. Cornerstone Advisors Inc. boosted its stake in Western Digital Corp. by 5.7% in the second quarter. Cornerstone Advisors Inc. now owns 2,245 shares of the data storage provider’s stock worth $106,000 after buying an additional 121 shares during the period. Finally, Americafirst Capital Management LLC purchased a new stake in Western Digital Corp. during the second quarter worth approximately $108,000. Institutional investors and hedge funds own 86.98% of the company’s stock.
Western Digital Corp. Company Profile
Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage solutions that enable consumers, businesses, governments and other organizations to create, manage, experience and preserve digital content. The Company’s product portfolio includes hard disk drives (HDDs), solid-state drives, direct attached storage solutions, personal cloud network attached storage solutions, and public and private cloud data center storage solutions.
Receive News & Ratings for Western Digital Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Digital Corp. and related companies with MarketBeat.com's FREE daily email newsletter.