Western Digital Corp VP Michael Charles Ray Sells 6,822 Shares (WDC)
Western Digital Corp (NYSE:WDC) VP Michael Charles Ray sold 6,822 shares of Western Digital Corp stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $101.01, for a total transaction of $689,090.22. Following the completion of the transaction, the vice president now directly owns 29,309 shares in the company, valued at approximately $2,960,502. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 equities research 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. Western Digital Corp has a consensus rating of “Buy” and an average target price of $111.00.
Western Digital Corp (NYSE:WDC) traded up 0.22% on Monday, hitting $100.84. The stock had a trading volume of 1,000,807 shares. Western Digital Corp has a 1-year low of $59.36 and a 1-year high of $102.89. The stock has a 50-day moving average of $98.99 and a 200-day moving average of $90.61. The company has a market cap of $23.597 billion and a price-to-earnings ratio of 15.06.
Western Digital Corp (NYSE:WDC) last announced its 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 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.
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