Insider Selling: Michael D. Cordano Unloads 7,003 Shares of Western Digital Corp Stock (WDC)
Western Digital Corp (NYSE:WDC) Insider Michael D. Cordano sold 7,003 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $100.49, for a total value of $703,731.47. Following the completion of the transaction, the insider now directly owns 81,261 shares in the company, valued at approximately $8,165,918. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Western Digital Corp (NYSE:WDC) traded up 0.23% on Wednesday, hitting $100.24. The stock had a trading volume of 145,844 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 $99.01 and a 200-day moving average of $90.70. The company has a market cap of $23.456 billion and a P/E ratio of 14.97.
Western Digital Corp (NYSE:WDC) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.85 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.96 earnings per share. Western Digital Corp’s revenue was down 2.1% compared to the same quarter last year. 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. Investors 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.
A number of analysts have recently weighed in on WDC shares. 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 investment 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 stock. The stock presently has an average rating of “Buy” and an average price target 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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