Insider Selling: Western Digital Corp Director Unloads 7,909 Shares of Stock (WDC)
Western Digital Corp (NYSE:WDC) Director Kathleen A. Cote sold 7,909 shares of Western Digital Corp stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $101.20, for a total value of $800,390.80. Following the completion of the transaction, the director now directly owns 7,812 shares of the company’s stock, valued at approximately $790,574. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Western Digital Corp (NYSE:WDC) traded down 0.44% on Tuesday, hitting $101.65. The stock had a trading volume of 1,916,522 shares. Western Digital Corp has a 52 week low of $59.36 and a 52 week high of $102.89. The stock has a 50-day moving average of $96.6 and a 200-day moving average of $89.70. The company has a market cap of $23.786 billion and a price-to-earnings ratio of 15.28.
Western Digital Corp (NYSE:WDC) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.85 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.72 by $0.13. The company had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the company posted $1.96 earnings per share. The company’s quarterly revenue was down 2.1% on a year-over-year basis. Analysts expect that Western Digital Corp will post $8.28 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Investors of record on Friday, October 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.57%.
A number of research firms have recently commented on WDC. Analysts at Susquehanna raised their price target on shares of Western Digital Corp from $130.00 to $133.00 in a research note on Tuesday. They now have a “positive” rating on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Western Digital Corp in a research note on Thursday, July 31st. They now have a $116.00 price target on the stock, up previously from $100.00. Finally, analysts at Stifel Nicolaus raised their price target on shares of Western Digital Corp from $105.00 to $120.00 in a research note on Thursday, July 31st. They now have a “buy” rating on the stock. Two analysts have rated the stock with a hold rating, fourteen have given 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 target price of $110.05.
Western Digital Corporation (NYSE:WDC) is a developer and manufacturer of storage solutions, which enables people to create, manage, experience and preserve digital content.
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