Western Digital (NASDAQ:WDC) Trading Down 2.1%

Western Digital Co. (NASDAQ:WDC) fell 2.1% during trading on Tuesday . The stock traded as low as $64.61 and last traded at $64.89. 734,722 shares traded hands during trading, a decline of 88% from the average session volume of 6,255,550 shares. The stock had previously closed at $66.29.

Analysts Set New Price Targets

WDC has been the topic of several recent analyst reports. TD Cowen decreased their target price on shares of Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, September 13th. StockNews.com upgraded shares of Western Digital from a “sell” rating to a “hold” rating in a research note on Saturday, July 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $80.00 price target on shares of Western Digital in a research note on Tuesday, September 10th. Loop Capital lifted their target price on Western Digital from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Finally, Evercore ISI reissued an “outperform” rating and set a $85.00 price objective on shares of Western Digital in a research report on Thursday, August 15th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $84.24.

Western Digital Trading Down 0.1 %

The firm’s fifty day simple moving average is $64.43 and its 200 day simple moving average is $69.54. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 1.32. The stock has a market capitalization of $21.63 billion, a P/E ratio of -13.19 and a beta of 1.39.

Western Digital (NASDAQ:WDC) last announced its earnings results on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.08 by $0.17. The firm had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.77 billion. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.75%. As a group, equities research analysts forecast that Western Digital Co. will post 7.75 EPS for the current fiscal year.

Insider Buying and Selling at Western Digital

In related news, SVP Gene M. Zamiska sold 417 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total value of $27,059.13. Following the transaction, the senior vice president now directly owns 28,870 shares of the company’s stock, valued at approximately $1,873,374.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Western Digital news, SVP Gene M. Zamiska sold 417 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total value of $27,059.13. Following the sale, the senior vice president now directly owns 28,870 shares in the company, valued at approximately $1,873,374.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert Soderbery sold 12,154 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $57.09, for a total transaction of $693,871.86. Following the sale, the executive vice president now owns 128,413 shares in the company, valued at approximately $7,331,098.17. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,955 shares of company stock valued at $1,053,560. Corporate insiders own 0.28% of the company’s stock.

Institutional Trading of Western Digital

Large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its holdings in Western Digital by 1.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 15,962 shares of the data storage provider’s stock worth $1,209,000 after acquiring an additional 203 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Western Digital by 15.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,527 shares of the data storage provider’s stock valued at $116,000 after purchasing an additional 206 shares during the last quarter. Mather Group LLC. increased its position in shares of Western Digital by 10.7% in the 2nd quarter. Mather Group LLC. now owns 2,203 shares of the data storage provider’s stock valued at $167,000 after acquiring an additional 213 shares during the period. Lindbrook Capital LLC raised its holdings in shares of Western Digital by 37.3% during the first quarter. Lindbrook Capital LLC now owns 843 shares of the data storage provider’s stock worth $58,000 after purchasing an additional 229 shares during the last quarter. Finally, Hanseatic Management Services Inc. lifted its stake in shares of Western Digital by 2.3% in the 2nd quarter. Hanseatic Management Services Inc. now owns 10,344 shares of the data storage provider’s stock valued at $784,000 after purchasing an additional 236 shares during the period. 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.