Insider Selling: Western Digital Corp. CEO Sells 13,877 Shares of Stock (WDC)
Western Digital Corp. (NYSE:WDC) CEO Stephen D. Milligan sold 13,877 shares of Western Digital Corp. stock on the open market in a transaction dated Thursday, June 19th. The stock was sold at an average price of $92.12, for a total value of $1,278,349.24. Following the transaction, the chief executive officer now directly owns 99,525 shares of the company’s stock, valued at approximately $9,168,243. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
WDC has been the subject of a number of recent research reports. 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 research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $98.50.
Shares of Western Digital Corp. (NYSE:WDC) traded up 0.20% during mid-day trading on Friday, hitting $91.46. The stock had a trading volume of 2,608,613 shares. Western Digital Corp. has a 1-year low of $58.04 and a 1-year high of $95.00. The stock has a 50-day moving average of $87.33 and a 200-day moving average of $86.35. The company has a market cap of $21.499 billion and a price-to-earnings ratio of 21.33.
Western Digital Corp. (NYSE:WDC) last announced its earnings results on Wednesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the 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 announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Stockholders of record on Friday, June 27th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Wednesday, June 25th. This is a boost from Western Digital Corp.’s previous quarterly dividend of $0.30.
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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