Western Digital Corp Sets New 1-Year High at $103.51 (WDC)
Shares of Western Digital Corp (NYSE:WDC) hit a new 52-week high during mid-day trading on Wednesday , American Banking & Market News reports. The stock traded as high as $103.51 and last traded at $102.70, with a volume of 713,213 shares. The stock had previously closed at $101.95.
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 issued a buy rating and one has assigned a strong buy rating to the stock. Western Digital Corp currently has a consensus rating of “Buy” and a consensus target price of $111.00.
The stock has a 50-day moving average of $99.76 and a 200-day moving average of $91.33. The company has a market cap of $24.014 billion and a P/E ratio of 15.26.
Western Digital Corp (NYSE:WDC) last issued its quarterly 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 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%. The ex-dividend date is Wednesday, October 1st.
In other Western Digital Corp news, Director Michael D. Lambert sold 14,352 shares of the stock on the open market in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $100.37, for a total transaction of $1,440,510.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
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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