A number of research firms have changed their ratings and price targets for Western Digital Corp (NASDAQ: WDC):

  • 10/17/2017 – Western Digital Corp was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 10/16/2017 – Western Digital Corp was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $98.49 price target on the stock.
  • 10/12/2017 – Western Digital Corp had its price target lowered by analysts at UBS AG from $101.00 to $93.00. They now have a “neutral” rating on the stock.
  • 10/10/2017 – Western Digital Corp had its “neutral” rating reaffirmed by analysts at Goldman Sachs Group, Inc. (The). They now have a $88.00 price target on the stock.
  • 10/10/2017 – Western Digital Corp was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $93.86 price target on the stock.
  • 10/8/2017 – Western Digital Corp had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $105.00 price target on the stock.
  • 10/4/2017 – Western Digital Corp was downgraded by analysts at Deutsche Bank AG from a “buy” rating to a “hold” rating. They now have a $80.00 price target on the stock, down previously from $105.00.
  • 10/3/2017 – Western Digital Corp was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 10/3/2017 – Western Digital Corp had its “buy” rating reaffirmed by analysts at Barclays PLC. They now have a $131.00 price target on the stock.
  • 10/2/2017 – Western Digital Corp was downgraded by analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating. They now have a $93.00 price target on the stock, down previously from $120.00.
  • 10/2/2017 – Western Digital Corp was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating.
  • 9/26/2017 – Western Digital Corp was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Western Digital provided weak first-quarter fiscal 2018 guidance that reflects weak PC shipment as well as intensifying competition in the hard-drive disk (HDD) market. Moreover, Toshiba's decision to divest its stake in the NAND flash joint venture to Bain-capital led consortium is expected hurt shares, which have outperformed the industry on a year-to-date basis. However, the company is benefiting from strong demand for both hard drive and NAND-based products from all categories of customers, largely driven by cloud and mobility based applications.”
  • 9/25/2017 – Western Digital Corp had its “overweight” rating reaffirmed by analysts at Barclays PLC. They now have a $131.00 price target on the stock.
  • 9/25/2017 – Western Digital Corp had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $135.00 price target on the stock.
  • 9/21/2017 – Western Digital Corp had its “outperform” rating reaffirmed by analysts at Cowen and Company. They now have a $117.00 price target on the stock.
  • 9/20/2017 – Western Digital Corp had its “add” rating reaffirmed by analysts at UBS AG.
  • 9/19/2017 – Western Digital Corp was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $100.00 price target on the stock.
  • 9/14/2017 – Western Digital Corp had its “buy” rating reaffirmed by analysts at Longbow Research. They now have a $120.00 price target on the stock.
  • 9/13/2017 – Western Digital Corp had its “hold” rating reaffirmed by analysts at Summit Redstone.
  • 9/12/2017 – Western Digital Corp was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $100.00 price target on the stock.
  • 9/12/2017 – Western Digital Corp had its “buy” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $115.00 price target on the stock.
  • 9/7/2017 – Western Digital Corp had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $135.00 price target on the stock.
  • 9/5/2017 – Western Digital Corp had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $105.00 price target on the stock.
  • 9/1/2017 – Western Digital Corp was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating.
  • 8/31/2017 – Western Digital Corp had its “positive” rating reaffirmed by analysts at Susquehanna Bancshares Inc.
  • 8/30/2017 – Western Digital Corp had its “buy” rating reaffirmed by analysts at Maxim Group. They now have a $108.00 price target on the stock. They wrote, “We have been touting Tegile as a best-in-class external storage technology since 2013. Tegile compliments Amplidata building block, but success in $100B+ data center systems market will require significant incremental investments for hybrid cloud data management capabilities and sales & marketing, in our view. Despite low probability risk of losing some revenue from storage vendors, we view the acquisition of Tegile positively.””
  • 8/27/2017 – Western Digital Corp had its “hold” rating reaffirmed by analysts at KeyCorp.
  • 8/26/2017 – Western Digital Corp had its “outperform” rating reaffirmed by analysts at Cowen and Company.
  • 8/25/2017 – Western Digital Corp was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.

Shares of Western Digital Corp (NASDAQ:WDC) opened at 86.41 on Monday. The firm’s 50 day moving average is $86.58 and its 200-day moving average is $87.59. The company has a market capitalization of $25.48 billion, a P/E ratio of 64.49 and a beta of 1.24. Western Digital Corp has a 52-week low of $52.62 and a 52-week high of $95.77.

Western Digital Corp (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, July 27th. The data storage provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.42. Western Digital Corp had a net margin of 5.78% and a return on equity of 10.01%. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the firm earned $0.79 EPS. The company’s revenue was up 38.5% on a year-over-year basis. Equities research analysts anticipate that Western Digital Corp will post $12.40 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Thursday, September 28th. Western Digital Corp’s dividend payout ratio is currently 156.25%.

In other Western Digital Corp news, insider Michael D. Cordano sold 9,404 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $88.71, for a total transaction of $834,228.84. Following the sale, the insider now owns 75,385 shares of the company’s stock, valued at approximately $6,687,403.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark P. Long sold 1,446 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $87.63, for a total transaction of $126,712.98. Following the sale, the insider now directly owns 86,939 shares in the company, valued at approximately $7,618,464.57. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,679 shares of company stock worth $6,561,639. Insiders own 0.31% of the company’s stock.

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).

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