Gene M. Zamiska Sells 376 Shares of Western Digital Co. (NASDAQ:WDC) Stock

Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska sold 376 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $64.47, for a total value of $24,240.72. Following the transaction, the senior vice president now owns 29,971 shares in the company, valued at $1,932,230.37. The trade was a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Western Digital Stock Up 0.8 %

WDC stock opened at $66.43 on Friday. The stock has a market cap of $22.97 billion, a P/E ratio of 39.08 and a beta of 1.40. 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’s fifty day simple moving average is $66.48 and its two-hundred day simple moving average is $69.10. Western Digital Co. has a 1-year low of $46.05 and a 1-year high of $81.55.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, October 24th. The data storage provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.23. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the previous year, the firm earned ($1.97) EPS. The firm’s quarterly revenue was up 48.9% on a year-over-year basis. Analysts expect that Western Digital Co. will post 6.56 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Susquehanna increased their target price on shares of Western Digital from $75.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Benchmark reissued a “buy” rating and set a $92.00 price objective on shares of Western Digital in a research report on Friday, October 25th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $115.00 target price on shares of Western Digital in a research report on Friday, October 25th. Citigroup reduced their price objective on Western Digital from $95.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Finally, Wedbush reaffirmed an “outperform” rating and set a $95.00 target price on shares of Western Digital in a research report on Friday, October 25th. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Western Digital currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.71.

Institutional Investors Weigh In On Western Digital

Several large investors have recently modified their holdings of the stock. Eastern Bank purchased a new stake in Western Digital in the third quarter worth $27,000. Fairfield Financial Advisors LTD purchased a new position in shares of Western Digital during the 2nd quarter valued at $29,000. True Wealth Design LLC grew its stake in shares of Western Digital by 2,184.2% during the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock worth $30,000 after acquiring an additional 415 shares during the period. OFI Invest Asset Management purchased a new stake in Western Digital in the 2nd quarter worth about $34,000. Finally, 1620 Investment Advisors Inc. bought a new stake in Western Digital in the 2nd quarter valued at about $34,000. Hedge funds and other 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.