Western Digital Corporation (NASDAQ:WDC)‘s stock had its “buy” rating reiterated by Citigroup Inc. in a report released on Monday. They currently have a $110.00 price target on the data storage provider’s stock, down from their previous price target of $115.00. Citigroup Inc.’s price objective would suggest a potential upside of 32.21% from the stock’s previous close.

Several other brokerages have also issued reports on WDC. Summit Redstone reiterated a “buy” rating on shares of Western Digital Corporation in a research note on Saturday, July 22nd. Loop Capital began coverage on shares of Western Digital Corporation in a research note on Monday, July 24th. They issued a “buy” rating and a $140.00 price target for the company. BTIG Research reiterated a “buy” rating and issued a $120.00 price target on shares of Western Digital Corporation in a research note on Friday, July 14th. Mizuho reiterated a “buy” rating and issued a $105.00 price target on shares of Western Digital Corporation in a research note on Monday, July 17th. Finally, Vetr lowered shares of Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $102.77 price target for the company. in a research note on Wednesday, July 12th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $104.51.

Western Digital Corporation (WDC) traded down 1.07% during trading on Monday, hitting $82.31. 439,728 shares of the stock traded hands. Western Digital Corporation has a 12 month low of $45.25 and a 12 month high of $95.77. The company has a 50-day moving average price of $87.67 and a 200-day moving average price of $84.55. The stock has a market cap of $24.03 billion, a PE ratio of 61.43 and a beta of 1.22.

Western Digital Corporation (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, July 27th. The data storage provider reported $2.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.51 by $0.42. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.82 billion. Western Digital Corporation had a net margin of 2.08% and a return on equity of 21.23%. The company’s revenue for the quarter was up 38.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.79 EPS. Equities research analysts expect that Western Digital Corporation will post $12.54 EPS for the current year.

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In related news, EVP Jacqueline Demaria sold 14,358 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $84.53, for a total value of $1,213,681.74. Following the sale, the executive vice president now owns 75,772 shares in the company, valued at $6,405,007.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark P. Long sold 28,585 shares of the business’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $94.24, for a total transaction of $2,693,850.40. Following the completion of the sale, the insider now owns 53,551 shares in the company, valued at approximately $5,046,646.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 123,644 shares of company stock worth $10,946,300. Company insiders own 0.46% of the company’s stock.

A number of large investors have recently made changes to their positions in WDC. First Mercantile Trust Co. boosted its stake in shares of Western Digital Corporation by 12.0% in the first quarter. First Mercantile Trust Co. now owns 7,700 shares of the data storage provider’s stock valued at $635,000 after buying an additional 825 shares in the last quarter. Glen Harbor Capital Management LLC boosted its stake in shares of Western Digital Corporation by 40.1% in the first quarter. Glen Harbor Capital Management LLC now owns 73,134 shares of the data storage provider’s stock valued at $6,036,000 after buying an additional 20,944 shares in the last quarter. Howard Hughes Medical Institute boosted its stake in shares of Western Digital Corporation by 55.5% in the first quarter. Howard Hughes Medical Institute now owns 6,152 shares of the data storage provider’s stock valued at $508,000 after buying an additional 2,195 shares in the last quarter. Northpointe Capital LLC acquired a new stake in shares of Western Digital Corporation during the first quarter valued at $3,938,000. Finally, Profund Advisors LLC boosted its stake in shares of Western Digital Corporation by 5.8% in the first quarter. Profund Advisors LLC now owns 23,048 shares of the data storage provider’s stock valued at $1,902,000 after buying an additional 1,255 shares in the last quarter. Institutional investors own 81.91% of the company’s stock.

Western Digital Corporation Company Profile

Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions).

Analyst Recommendations for Western Digital Corporation (NASDAQ:WDC)

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