The Western Digital Corp’s (WDC) Market Perform Rating Reiterated at Wells Fargo & Co

The Western Digital Corp’s (WDC) Market Perform Rating Reiterated at Wells Fargo & Co

Several other analysts also recently commented on WDC. Mizuho reaffirmed a buy rating and issued a $82.00 price objective (up from $72.00) on shares of Western Digital Corp in a report on Wednesday, January 18th. BTIG Research reaffirmed a buy rating and issued a $85.00 price objective on shares of Western Digital Corp in a report on Wednesday, January 18th. Citigroup Inc set a $85.00 price objective on shares of Western Digital Corp and gave the company a buy rating in a report on Wednesday, January 18th. Vetr downgraded shares of Western Digital Corp from a strong-buy rating to a buy rating and set a $78.92 price objective on the stock. in a report on Thursday, January 19th. Finally, Cowen and Company reaffirmed an outperform rating and issued a $72.00 price objective on shares of Western Digital Corp in a report on Monday, January 23rd. Six investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $96.05.

Wells Fargo & Co restated their market perform rating on shares of Western Digital Corp (NASDAQ:WDC) in a report issued on Monday, May 15th. They currently have a $95.00 price target on the data storage provider’s stock.

Shares of Western Digital Corp (WDC) opened at 91.52 on Monday. Western Digital Corp has a 12-month low of $41.64 and a 12-month high of $92.50. The company has a 50 day moving average of $87.84 and a 200-day moving average of $76.95. The company’s market cap is $26.65 billion. Western Digital Corp (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, April 27th. The data storage provider reported $2.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.85 by $0.22. Western Digital Corp had a negative net margin of 2.56% and a positive return on equity of 13.38%. The business had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the prior year, the business posted $1.21 EPS. Western Digital Corp’s revenue for the quarter was up 64.7% compared to the same quarter last year. Equities research analysts anticipate that Western Digital Corp will post $8.89 earnings per share for the current year.

Shares of Western Digital Corp (WDC) opened at 91.52 on Monday. Western Digital Corp has a 12-month low of $41.64 and a 12-month high of $92.50. The company has a 50 day moving average of $87.84 and a 200-day moving average of $76.95. The company’s market cap is $26.65 billion. The company also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Wednesday, June 28th. Western Digital Corp’s payout ratio is -133.33%.

In other news, EVP Manish H. Bhatia sold 7,208 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $84.99, for a total transaction of $612,607.92. Following the completion of the transaction, the executive vice president now owns 66,922 shares of the company’s stock, valued at approximately $5,687,700.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jacqueline Demaria sold 21,410 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $87.02, for a total transaction of $1,863,098.20. The disclosure for this sale can be found here. Insiders sold a total of 175,980 shares of company stock valued at $15,379,978 in the last three months. 0.46% of the stock is currently owned by corporate insiders. Several hedge funds and other institutional investors have recently bought and sold shares of WDC. American Beacon Advisors Inc. bought a new position in Western Digital Corp during the first quarter worth approximately $111,000. Acrospire Investment Management LLC bought a new position in Western Digital Corp during the first quarter worth approximately $112,000. Reilly Financial Advisors LLC increased its position in Western Digital Corp by 49.8% in the first quarter. Reilly Financial Advisors LLC now owns 1,383 shares of the data storage provider’s stock worth $114,000 after buying an additional 460 shares in the last quarter. Harbour Capital Advisors LLC bought a new position in Western Digital Corp during the first quarter worth approximately $117,000. Finally, SRS Capital Advisors Inc. increased its position in Western Digital Corp by 26.7% in the first quarter. SRS Capital Advisors Inc. now owns 1,453 shares of the data storage provider’s stock worth $119,000 after buying an additional 306 shares in the last quarter. 88.22% of the stock is owned by institutional investors.

About Western Digital Corp Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:WDC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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