Western Digital (NASDAQ:WDC) Price Target Lowered to $95.00 at Rosenblatt Securities

Western Digital (NASDAQ:WDC) had its price objective cut by Rosenblatt Securities from $115.00 to $95.00 in a report released on Wednesday morning. They currently have a buy rating on the data storage provider’s stock.

Several other brokerages have also recently commented on WDC. Citigroup decreased their target price on shares of Western Digital from $87.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. UBS Group cut their price target on Western Digital from $74.00 to $72.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Benchmark lowered shares of Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price objective for the company. in a research note on Thursday, December 19th. Bank of America decreased their target price on Western Digital from $89.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, Susquehanna raised their price target on Western Digital from $75.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Western Digital presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.68.

Western Digital Stock Down 0.1 %

Western Digital stock opened at $62.80 on Wednesday. Western Digital has a 52 week low of $52.77 and a 52 week high of $81.55. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49. The stock has a market cap of $21.71 billion, a price-to-earnings ratio of 36.94 and a beta of 1.43. The company’s 50-day moving average price is $65.70 and its two-hundred day moving average price is $65.62.

Western Digital (NASDAQ:WDC) last released its earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.36). Western Digital had a return on equity of 8.57% and a net margin of 4.81%. On average, analysts expect that Western Digital will post 5.54 EPS for the current fiscal year.

Insider Buying and Selling at Western Digital

In other news, SVP Gene M. Zamiska sold 658 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total value of $46,053.42. Following the transaction, the senior vice president now directly owns 28,863 shares of the company’s stock, valued at $2,020,121.37. The trade was a 2.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 1,347 shares of company stock valued at $93,027. 0.30% of the stock is currently owned by company insiders.

Institutional Trading of Western Digital

Several large investors have recently made changes to their positions in WDC. State Street Corp raised its position in Western Digital by 3.2% in the 3rd quarter. State Street Corp now owns 13,572,686 shares of the data storage provider’s stock worth $926,879,000 after purchasing an additional 423,651 shares during the last quarter. Geode Capital Management LLC lifted its stake in Western Digital by 1.0% in the third quarter. Geode Capital Management LLC now owns 7,921,608 shares of the data storage provider’s stock valued at $539,355,000 after buying an additional 76,781 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Western Digital by 24.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,711,428 shares of the data storage provider’s stock worth $253,453,000 after buying an additional 732,344 shares during the period. Maple Rock Capital Partners Inc. increased its stake in shares of Western Digital by 13.2% in the 3rd quarter. Maple Rock Capital Partners Inc. now owns 3,287,400 shares of the data storage provider’s stock valued at $224,497,000 after acquiring an additional 383,390 shares during the last quarter. Finally, Holocene Advisors LP boosted its stake in Western Digital by 25.7% during the 3rd quarter. Holocene Advisors LP now owns 3,192,762 shares of the data storage provider’s stock worth $218,034,000 after acquiring an additional 651,847 shares during 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.