Western Digital (NASDAQ:WDC) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Western Digital (NASDAQ:WDC) in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $95.00 price objective on the data storage provider’s stock.

WDC has been the subject of a number of other reports. Wedbush reiterated an “outperform” rating and set a $95.00 price target on shares of Western Digital in a report on Monday, February 10th. Morgan Stanley lowered their price target on Western Digital from $100.00 to $93.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Barclays lowered their price target on Western Digital from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Wells Fargo & Company lowered their price target on Western Digital from $95.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Finally, Rosenblatt Securities lowered their price target on Western Digital from $115.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Western Digital has a consensus rating of “Moderate Buy” and a consensus target price of $84.42.

Western Digital Stock Up 5.3 %

Shares of WDC opened at $72.03 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99. Western Digital has a one year low of $52.77 and a one year high of $81.55. The stock has a market capitalization of $25.05 billion, a price-to-earnings ratio of 17.15 and a beta of 1.44. The stock has a 50 day moving average price of $64.57 and a 200 day moving average price of $65.37.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. Equities research analysts forecast that Western Digital will post 4.89 earnings per share for the current fiscal year.

Insider Transactions at Western Digital

In related news, SVP Gene M. Zamiska sold 658 shares of the business’s stock in a transaction dated 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 owns 28,863 shares in the company, valued at approximately $2,020,121.37. The trade was a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 1,347 shares of company stock valued at $93,027 over the last quarter. Company insiders own 0.30% of the company’s stock.

Institutional Trading of Western Digital

Several institutional investors and hedge funds have recently bought and sold shares of WDC. Versant Capital Management Inc grew its holdings in shares of Western Digital by 278.9% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock valued at $25,000 after purchasing an additional 304 shares during the last quarter. Eastern Bank bought a new position in shares of Western Digital during the third quarter valued at approximately $27,000. Sierra Ocean LLC bought a new position in shares of Western Digital during the fourth quarter valued at approximately $29,000. True Wealth Design LLC grew its holdings in shares of Western Digital by 2,184.2% during the third quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock valued at $30,000 after purchasing an additional 415 shares during the last quarter. Finally, Comprehensive Financial Planning Inc. PA bought a new position in shares of Western Digital during the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

About Western Digital

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.