Insider Selling: Michael Charles Ray Sells 6,822 Shares of Western Digital Corp Stock (WDC)
Western Digital Corp (NYSE:WDC) VP Michael Charles Ray unloaded 6,822 shares of the company’s stock on the open market in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $101.01, for a total value of $689,090.22. Following the transaction, the vice president now directly owns 29,309 shares of the company’s stock, valued at approximately $2,960,502. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Western Digital Corp (NYSE:WDC) traded up 0.18% on Wednesday, hitting $100.1905. 146,044 shares of the company’s stock traded hands. 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 $99.01 and a 200-day moving average of $90.70. The company has a market cap of $23.445 billion and a P/E ratio of 14.97.
Western Digital Corp (NYSE:WDC) last released its earnings data 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 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. Stockholders 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 1.60%. The ex-dividend date is Wednesday, October 1st.
WDC has been the subject of a number of recent research reports. 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 research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Western Digital Corp currently has a consensus rating of “Buy” and a consensus target price of $111.00.
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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