Several analysts have recently updated their ratings and price targets for Western Digital Corp. (NASDAQ: WDC):

  • 9/13/2016 – Western Digital Corp. was upgraded by analysts at Longbow Research from a “neutral” rating to a “buy” rating. They now have a $70.00 price target on the stock. They wrote, “The Sandisk deal was expensive, dilutive to near-term models, and took time for the Street to digest; but WD is now primed to reap the spoils as a one-stop, vertically-integrated, media-agnostic storage provider that should generate substantial earnings accretion in FY18 on the favorable demand backdrop combined with reductions in operating and interest expense. Our 12-month target price is $70, or less than 12x our FY18E EPS estimate of $5.90.”
  • 9/10/2016 – Western Digital Corp. had its “buy” rating reaffirmed by analysts at Argus. They now have a $60.00 price target on the stock.
  • 9/8/2016 – Western Digital Corp. had its price target raised by analysts at Mizuho from $54.00 to $60.00. They now have a “buy” rating on the stock.
  • 9/8/2016 – Western Digital Corp. had its price target lowered by analysts at Benchmark Co. from $67.00 to $53.30. They now have a “buy” rating on the stock.
  • 9/8/2016 – Western Digital Corp. had its “overweight” rating reaffirmed by analysts at Barclays PLC. They now have a $29.00 price target on the stock, down previously from $34.00.
  • 9/8/2016 – Western Digital Corp. had its “sector perform” rating reaffirmed by analysts at FBN Securities. They now have a $55.00 price target on the stock, up previously from $50.00.
  • 9/8/2016 – Western Digital Corp. had its price target raised by analysts at Craig Hallum from $56.00 to $67.00. They now have a “buy” rating on the stock.
  • 9/8/2016 – Western Digital Corp. had its “hold” rating reaffirmed by analysts at Morgan Stanley. They now have a $53.00 price target on the stock.
  • 9/7/2016 – Western Digital Corp. had its price target raised by analysts at FBR & Co from $50.00 to $55.00. They now have a “sector perform” rating on the stock.
  • 9/7/2016 – Western Digital Corp. had its price target raised by analysts at Robert W. Baird from $65.00 to $70.00. They now have an “outperform” rating on the stock.
  • 9/7/2016 – Western Digital Corp. had its price target raised by analysts at RBC Capital Markets from $56.00 to $60.00. They now have an “outperform” rating on the stock.
  • 9/7/2016 – Western Digital Corp. was given a new $65.00 price target on by analysts at Citigroup Inc.. They now have a “buy” rating on the stock.
  • 9/7/2016 – Western Digital Corp. had its price target raised by analysts at Cowen and Company from $55.00 to $58.00. They now have an “outperform” rating on the stock.
  • 9/7/2016 – Western Digital Corp. had its price target raised by analysts at BTIG Research from $60.00 to $66.00. They now have a “buy” rating on the stock.
  • 9/7/2016 – Western Digital Corp. was downgraded by analysts at Vetr from a “buy” rating to a “sell” rating. They now have a $51.50 price target on the stock.
  • 8/29/2016 – Western Digital Corp. was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $51.50 price target on the stock.
  • 8/26/2016 – Western Digital Corp. was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating.
  • 8/25/2016 – Western Digital Corp. had its price target lowered by analysts at Mizuho from $56.00 to $54.00. They now have a “buy” rating on the stock.
  • 8/22/2016 – Western Digital Corp. was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $51.50 price target on the stock.
  • 8/17/2016 – Western Digital Corp. had its price target raised by analysts at Goldman Sachs Group Inc. from $38.00 to $39.00. They now have a “sell” rating on the stock.
  • 8/17/2016 – Western Digital Corp. had its price target lowered by analysts at Jefferies Group from $62.00 to $54.00. They now have a “buy” rating on the stock.
  • 8/16/2016 – Western Digital Corp. had its price target raised by analysts at Barclays PLC from $60.00 to $61.00. They now have an “overweight” rating on the stock.
  • 8/13/2016 – Western Digital Corp. had its “positive” rating reaffirmed by analysts at Susquehanna. They now have a $80.00 price target on the stock.
  • 8/3/2016 – Western Digital Corp. was downgraded by analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “sell” rating. They now have a $38.00 price target on the stock, down previously from $47.00.
  • 8/2/2016 – Western Digital Corp. had its “buy” rating reaffirmed by analysts at Argus. They now have a $60.00 price target on the stock.
  • 8/1/2016 – Western Digital Corp. had its “market perform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $50.00 price target on the stock.
  • 7/31/2016 – Western Digital Corp. had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $75.00 price target on the stock.
  • 7/29/2016 – Western Digital Corp. had its price target raised by analysts at Cowen and Company from $50.00 to $55.00. They now have an “outperform” rating on the stock.
  • 7/29/2016 – Western Digital Corp. was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating. They now have a $65.00 price target on the stock, up previously from $50.00.
  • 7/29/2016 – Western Digital Corp. was downgraded by analysts at Cross Research from a “buy” rating to a “hold” rating.
  • 7/29/2016 – Western Digital Corp. had its “strong-buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $67.00 price target on the stock.
  • 7/29/2016 – Western Digital Corp. had its price target raised by analysts at JPMorgan Chase & Co. from $47.00 to $50.00. They now have a “neutral” rating on the stock.
  • 7/27/2016 – Western Digital Corp. had its “positive” rating reaffirmed by analysts at Susquehanna. They now have a $80.00 price target on the stock.

Western Digital Corp. (NASDAQ:WDC) traded up 0.96% during trading on Wednesday, reaching $54.94. 1,640,192 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $47.88 and its 200-day moving average is $46.26. The company has a market cap of $15.62 billion, a P/E ratio of 54.94 and a beta of 1.37. Western Digital Corp. has a 12-month low of $34.99 and a 12-month high of $86.39.

Western Digital Corp. (NASDAQ:WDC) last released its quarterly earnings data on Thursday, July 28th. The data storage provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.08. The firm earned $3.50 billion during the quarter, compared to the consensus estimate of $3.44 billion. Western Digital Corp. had a return on equity of 12.42% and a net margin of 1.98%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.51 earnings per share. Analysts predict that Western Digital Corp. will post $4.56 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.00 annualized dividend and a dividend yield of 3.68%. Western Digital Corp.’s payout ratio is currently 158.73%.

Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage solutions that enable consumers, businesses, governments and other organizations to create, manage, experience and preserve digital content. The Company’s product portfolio includes hard disk drives (HDDs), solid-state drives, direct attached storage solutions, personal cloud network attached storage solutions, and public and private cloud data center storage solutions.

5 Day Chart for NASDAQ:WDC

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