The company now has an average rating of “Buy” and a consensus price target of $67.35.
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The stock has received rating from many Reuters analysts.
Several other analysts also recently weighed in on WDC. Bank of America Corp. downgraded shares of Western Digital Corp. from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $61.00 to $30.00 in a research note on Friday, May 13th.
Western Digital Corp (NASDAQ:WDC) stock is now trading at about $47.51 and lots of rating firms seem to have a target price set on the stock. A CEO at Western Digital Corporation (WDC) purchased shares in the company in a transaction completed on Tuesday May 31, 2016. They set a “hold” rating for the company. However brokerage recommendations suggests an ABR of 1.88 based on calls of 24 experts, where 14 brokers polls the stock a Strong Buy, 2 suggest the stock a Buy, 6 suggest Hold, 1 are rating the stock as Sell while 1 as Strong Sell. The stock presently has an average rating of “Buy” and a consensus price target of $68.08. According to the SEC, on Dec 9, 2015, Michael Charles Ray (EVP, Chief Legal Officer & Sec) sold 1,863 shares at $63.59 per share price. The insider owns 235,225 shares which have current market value of around $11175540.MILLIGAN STEPHEN D is another major inside shareholder in the company. The Company ended the quarter with $1.1 billion of total debt and $1.1 billion of total accessible capital.
Orca Investment Management reduced its stake in Western Digital Corp by 0.67% during the most recent quarter end. Geode Capital Management LLC now owns 2,430,391 shares of the data storage provider’s stock valued at $114,629,000 after buying an additional 244,462 shares during the last quarter. Amerigo Asset Management increased its position in shares of Western Digital Corp.by 55.5% in the first quarter. Now shares have been rated as “Buy” from 2 Analysts. Cornerstone Advisors Inc. increased its position in Western Digital Corp.by 5.7% in the second quarter. They now have a $50.00 price target on the data storage provider’s stock.
Western Digital Corp. has a one year low of $34.99 and a one year high of $86.80. (NASDAQ:WDC) traded up 0.49% during midday trading on Thursday, reaching $53.70. The company had a trading volume of 17,658,950 shares. Company has a market cap of $12,512 M. The firm has a 50-day moving average of $48.79 and a 200-day moving average of $45.59.
At time of writing, shares of Western Digital were down 1.40 percent at $46.85.
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Earnings Roundup: In the last fiscal quarter alone, Western Digital Corporation generated around $3.5B in revenue and net income of $0.79/share. During the same quarter in the previous year, the company posted $1.51 EPS. The stock was upgraded to Outperform from Neutral, wrote analysts at Robert W. Baird, in a note issued to clients on Friday July 29, 2016. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $2.00 dividend on an annualized basis and a yield of 3.72%. The Company 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 Technology product includes: Hard Disk Drives and Solid-State Drives.
