Western Digital Corporation (NASDAQ:WDC)‘s stock had its “add” rating restated by stock analysts at UBS AG in a research report issued to clients and investors on Wednesday, The Fly reports.

Other equities research analysts also recently issued research reports about the stock. Vetr cut shares of Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $95.94 target price on the stock. in a report on Tuesday, August 22nd. Maxim Group restated a “buy” rating and issued a $108.00 target price on shares of Western Digital Corporation in a report on Wednesday, August 30th. ValuEngine cut shares of Western Digital Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Royal Bank Of Canada restated a “buy” rating on shares of Western Digital Corporation in a report on Monday, June 12th. Finally, BidaskClub upgraded shares of Western Digital Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 28th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $111.34.

Shares of Western Digital Corporation (NASDAQ WDC) traded down 3.95% during mid-day trading on Wednesday, reaching $86.37. The company had a trading volume of 7,818,739 shares. The stock has a market capitalization of $25.47 billion, a P/E ratio of 64.46 and a beta of 1.21. The firm’s 50 day moving average is $86.12 and its 200-day moving average is $86.39. Western Digital Corporation has a 12-month low of $52.10 and a 12-month high of $95.77. Western Digital Corporation also saw unusually large options trading activity on Monday. Stock traders purchased 6,330 call options on the company. This is an increase of 292% compared to the average daily volume of 1,613 call options.

Western Digital Corporation (NASDAQ:WDC) last announced its earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.51 by $0.42. Western Digital Corporation had a net margin of 2.08% and a return on equity of 21.23%. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the firm earned $0.79 earnings per share. The business’s revenue for the quarter was up 38.5% on a year-over-year basis. On average, analysts expect that Western Digital Corporation will post $12.50 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This story was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this story on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/09/20/western-digital-corporations-wdc-add-rating-reiterated-at-ubs-ag.html.

In related news, insider Mark P. Long sold 1,446 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $87.63, for a total transaction of $126,712.98. Following the completion of the transaction, the insider now owns 86,939 shares in the company, valued at approximately $7,618,464.57. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jacqueline Demaria sold 14,358 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $84.53, for a total transaction of $1,213,681.74. Following the transaction, the executive vice president now owns 75,772 shares of the company’s stock, valued at approximately $6,405,007.16. The disclosure for this sale can be found here. Insiders sold a total of 144,295 shares of company stock valued at $12,689,056 in the last ninety days. Corporate insiders own 0.46% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in WDC. Strs Ohio boosted its holdings in shares of Western Digital Corporation by 1.1% in the 1st quarter. Strs Ohio now owns 9,902 shares of the data storage provider’s stock valued at $817,000 after acquiring an additional 103 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in shares of Western Digital Corporation by 52.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 2,393,005 shares of the data storage provider’s stock valued at $197,495,000 after acquiring an additional 821,155 shares during the last quarter. Commerce Bank boosted its holdings in shares of Western Digital Corporation by 34.7% in the 1st quarter. Commerce Bank now owns 5,434 shares of the data storage provider’s stock valued at $448,000 after acquiring an additional 1,401 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Western Digital Corporation by 30.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,369 shares of the data storage provider’s stock valued at $1,764,000 after acquiring an additional 5,004 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Western Digital Corporation by 10.4% in the 1st quarter. Ameriprise Financial Inc. now owns 4,038,573 shares of the data storage provider’s stock valued at $333,102,000 after acquiring an additional 380,404 shares during the last quarter. 82.42% of the stock is currently owned by institutional investors and hedge funds.

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).

The Fly

Analyst Recommendations for Western Digital Corporation (NASDAQ:WDC)

Receive News & Ratings for Western Digital Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Digital Corporation and related companies with MarketBeat.com's FREE daily email newsletter.