Craig Hallum Upgrades Western Digital Corp. to Buy (WDC)
Western Digital Corp. (NYSE:WDC) was upgraded by analysts at Craig Hallum from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports.
A number of other analysts have also recently weighed in on WDC. Analysts at BMO Capital Markets upgraded shares of Western Digital Corp. from a “market perform” rating to an “outperform” rating in a research note to investors on Tuesday. They now have a $106.00 price target on the stock, up previously from $75.00. Separately, analysts at Zacks upgraded shares of Western Digital Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, January 17th. They now have a $107.00 price target on the stock. Finally, analysts at Merrill Lynch raised their price target on shares of Western Digital Corp. from $88.98 to $102.00 in a research note to investors on Thursday, January 16th. They now have a “buy” rating on the stock. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $96.56.
Shares of Western Digital Corp. (NYSE:WDC) traded down 1.32% during mid-day trading on Thursday, hitting $86.92. The stock had a trading volume of 1,162,202 shares. Western Digital Corp. has a 52 week low of $44.44 and a 52 week high of $90.44. The stock has a 50-day moving average of $83.03 and a 200-day moving average of $71.35. The company has a market cap of $20.541 billion and a P/E ratio of 22.44.
Western Digital Corp. (NYSE:WDC) last announced its earnings results on Wednesday, January 22nd. The company reported $2.19 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.07 by $0.12. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter last year, the company posted $2.09 earnings per share. Western Digital Corp.’s revenue was up 3.9% compared to the same quarter last year. On average, analysts predict that Western Digital Corp. will post $8.11 earnings per share for the current fiscal year.
Western Digital Corporation (NYSE:WDC) is a provider of solutions for the collection, storage, management, protection and use of digital content, including audio and video.
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