Insider Selling: Western Digital Corp. VP Sells 9,060 Shares of Stock (WDC)
Western Digital Corp. (NYSE:WDC) VP Michael Charles Ray sold 9,060 shares of the company’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $91.45, for a total transaction of $828,537.00. Following the completion of the transaction, the vice president now directly owns 29,309 shares in the company, valued at approximately $2,680,308. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Western Digital Corp. (NYSE:WDC) traded up 0.73% during mid-day trading on Wednesday, hitting $92.99. The stock had a trading volume of 1,002,859 shares. Western Digital Corp. has a one year low of $58.04 and a one year high of $95.00. The stock has a 50-day moving average of $86.99 and a 200-day moving average of $86.20. The company has a market cap of $21.859 billion and a price-to-earnings ratio of 21.57.
Western Digital Corp. (NYSE:WDC) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.87 by $0.07. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.73 billion. On average, analysts predict that Western Digital Corp. will post $8.00 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Stockholders of record on Friday, June 27th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Wednesday, June 25th. This is a boost from Western Digital Corp.’s previous quarterly dividend of $0.30.
A number of research firms have recently commented on WDC. Analysts at Rhino Trading initiated coverage on shares of Western Digital Corp. in a research note on Monday. They set a “buy” rating and a $110.00 price target on the stock. Separately, analysts at Barclays upgraded shares of Western Digital Corp. from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, May 14th. They now have a $98.00 price target on the stock, up previously from $95.00. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Western Digital Corp. in a research note on Thursday, May 1st. They now have a $105.00 price target 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 a consensus price target of $98.50.
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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