Western Digital Co. (NASDAQ:WDC) Receives $84.41 Average PT from Brokerages

Shares of Western Digital Co. (NASDAQ:WDC) have been assigned an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and eighteen have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $84.41.

A number of equities research analysts have recently weighed in on WDC shares. Loop Capital lifted their price target on shares of Western Digital from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Mizuho raised their price target on Western Digital from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Summit Insights downgraded shares of Western Digital from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Benchmark raised their target price on Western Digital from $85.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $115.00 target price on shares of Western Digital in a research note on Thursday, August 1st.

Insider Buying and Selling

In other Western Digital news, EVP Robert Soderbery sold 12,154 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $57.09, for a total value of $693,871.86. Following the transaction, the executive vice president now directly owns 128,413 shares of the company’s stock, valued at $7,331,098.17. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Gene M. Zamiska sold 416 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $71.88, for a total value of $29,902.08. Following the completion of the sale, the senior vice president now directly owns 30,321 shares of the company’s stock, valued at approximately $2,179,473.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert Soderbery sold 12,154 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $57.09, for a total transaction of $693,871.86. Following the sale, the executive vice president now directly owns 128,413 shares of the company’s stock, valued at $7,331,098.17. The disclosure for this sale can be found here. Insiders sold 39,642 shares of company stock valued at $2,714,014 over the last 90 days. Company insiders own 0.28% of the company’s stock.

Institutional Trading of Western Digital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WDC. L & S Advisors Inc purchased a new position in shares of Western Digital during the second quarter valued at approximately $2,881,000. Virtu Financial LLC purchased a new position in Western Digital during the 2nd quarter worth $1,197,000. Quantbot Technologies LP bought a new position in shares of Western Digital during the 2nd quarter valued at approximately $4,031,000. Dimensional Fund Advisors LP increased its stake in shares of Western Digital by 5.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,881,847 shares of the data storage provider’s stock worth $218,400,000 after purchasing an additional 143,074 shares during the last quarter. Finally, Fairfield Financial Advisors LTD bought a new stake in shares of Western Digital in the 2nd quarter worth approximately $29,000. 92.51% of the stock is owned by institutional investors.

Western Digital Stock Up 1.2 %

WDC opened at $59.68 on Monday. The stock has a fifty day moving average of $72.88 and a 200-day moving average of $68.32. The company has a market capitalization of $19.49 billion, a P/E ratio of -12.01 and a beta of 1.37. Western Digital has a fifty-two week low of $35.62 and a fifty-two week high of $81.55. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.83 and a current ratio of 1.41.

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.