Western Digital Corp (NASDAQ:WDC) has been assigned a consensus recommendation of “Hold” from the thirty-two research firms that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $76.60.
Several research analysts have recently issued reports on the stock. Susquehanna Bancshares reaffirmed a “neutral” rating and issued a $44.00 target price (down previously from $120.00) on shares of Western Digital in a research note on Tuesday, November 20th. UBS Group downgraded shares of Western Digital from a “positive” rating to a “neutral” rating in a research report on Tuesday, November 20th. Zacks Investment Research reiterated a “strong sell” rating on shares of Western Digital in a research report on Saturday, November 17th. Robert W. Baird reiterated a “buy” rating and issued a $55.00 price target on shares of Western Digital in a research report on Friday, November 9th. Finally, BidaskClub upgraded shares of Western Digital from a “strong sell” rating to a “sell” rating in a research report on Saturday, November 3rd.
In other Western Digital news, Director Matthew E. Massengill sold 1,681 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $47.68, for a total transaction of $80,150.08. Following the sale, the director now directly owns 17,848 shares in the company, valued at approximately $850,992.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.36% of the company’s stock.
A number of hedge funds have recently made changes to their positions in WDC. Massachusetts Financial Services Co. MA raised its holdings in Western Digital by 20.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 725,080 shares of the data storage provider’s stock worth $56,128,000 after buying an additional 121,525 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Western Digital by 10.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 37,784 shares of the data storage provider’s stock valued at $2,925,000 after purchasing an additional 3,489 shares during the last quarter. TD Asset Management Inc. raised its holdings in shares of Western Digital by 0.8% in the second quarter. TD Asset Management Inc. now owns 101,239 shares of the data storage provider’s stock valued at $7,837,000 after purchasing an additional 838 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Western Digital by 14.7% in the second quarter. Commonwealth Equity Services LLC now owns 23,847 shares of the data storage provider’s stock valued at $1,846,000 after purchasing an additional 3,065 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Western Digital by 18.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,056,586 shares of the data storage provider’s stock valued at $81,790,000 after purchasing an additional 162,501 shares during the last quarter. Hedge funds and other institutional investors own 86.20% of the company’s stock.
Shares of NASDAQ WDC opened at $45.52 on Friday. The stock has a market capitalization of $14.09 billion, a PE ratio of 3.37, a price-to-earnings-growth ratio of 0.41 and a beta of 1.17. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.70 and a current ratio of 2.41. Western Digital has a 1 year low of $40.58 and a 1 year high of $106.96.
Western Digital (NASDAQ:WDC) last issued its earnings results on Thursday, October 25th. The data storage provider reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.08. The company had revenue of $5.03 billion for the quarter, compared to analyst estimates of $5.14 billion. Western Digital had a net margin of 2.46% and a return on equity of 35.37%. Analysts expect that Western Digital will post 6.19 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 14th. Shareholders of record on Friday, December 28th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, December 27th. This represents a $2.00 annualized dividend and a yield of 4.39%. Western Digital’s dividend payout ratio (DPR) is currently 14.80%.
About Western Digital
Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.
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