Insider Selling: Western Digital Corp Director Sells 2,558 Shares of Stock (WDC)
Western Digital Corp (NYSE:WDC) Director Henry T. Denero sold 2,558 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $100.11, for a total transaction of $256,081.38. Following the completion of the sale, the director now directly owns 18,379 shares in the company, valued at approximately $1,839,922. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
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, August 5th. 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. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $111.00.
Western Digital Corp (NYSE:WDC) traded up 0.89% during mid-day trading on Wednesday, hitting $100.40. 1,973,818 shares of the company’s stock traded hands. Western Digital Corp has a 52-week low of $59.36 and a 52-week high of $102.89. The stock’s 50-day moving average is $97.99 and its 200-day moving average is $90.1. The company has a market cap of $23.494 billion and a P/E ratio of 14.90.
Western Digital Corp (NYSE:WDC) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.85 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $1.96 earnings per share. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, analysts predict that Western Digital Corp will post $8.28 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 15th. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Wednesday, October 1st.
Western Digital Corporation (NYSE:WDC) is a developer and manufacturer of storage solutions, which enables people to create, manage, experience and preserve digital content.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.