Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska Sells 219 Shares

Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska sold 219 shares of Western Digital stock in a transaction on Monday, June 17th. The stock was sold at an average price of $78.00, for a total transaction of $17,082.00. Following the completion of the transaction, the senior vice president now directly owns 29,507 shares of the company’s stock, valued at $2,301,546. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Western Digital Stock Up 0.5 %

Shares of Western Digital stock traded up $0.37 on Tuesday, reaching $80.23. The stock had a trading volume of 5,462,322 shares, compared to its average volume of 6,604,135. The company has a 50 day moving average price of $73.15 and a 200 day moving average price of $62.67. The company has a quick ratio of 1.07, a current ratio of 1.86 and a debt-to-equity ratio of 0.72. Western Digital Co. has a 1 year low of $35.62 and a 1 year high of $81.55. The stock has a market capitalization of $26.20 billion, a P/E ratio of -16.13 and a beta of 1.45.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, April 25th. The data storage provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.42. Western Digital had a negative net margin of 12.87% and a negative return on equity of 13.75%. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.37 billion. During the same quarter in the previous year, the firm earned ($1.57) EPS. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. As a group, equities research analysts forecast that Western Digital Co. will post -1.68 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of WDC. Lindbrook Capital LLC lifted its stake in shares of Western Digital by 37.3% in the 1st quarter. Lindbrook Capital LLC now owns 843 shares of the data storage provider’s stock valued at $58,000 after purchasing an additional 229 shares during the period. Signaturefd LLC lifted its stake in shares of Western Digital by 10.9% in the 4th quarter. Signaturefd LLC now owns 2,577 shares of the data storage provider’s stock valued at $135,000 after purchasing an additional 254 shares during the period. Czech National Bank lifted its stake in shares of Western Digital by 0.5% in the 1st quarter. Czech National Bank now owns 57,050 shares of the data storage provider’s stock valued at $3,893,000 after purchasing an additional 261 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in shares of Western Digital by 6.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,401 shares of the data storage provider’s stock valued at $300,000 after purchasing an additional 280 shares during the period. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Western Digital by 79.1% in the 3rd quarter. Parkside Financial Bank & Trust now owns 747 shares of the data storage provider’s stock valued at $34,000 after purchasing an additional 330 shares during the period. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Analysts Set New Price Targets

WDC has been the subject of several analyst reports. Bank of America raised their target price on shares of Western Digital from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Mizuho lifted their price objective on shares of Western Digital from $80.00 to $90.00 and gave the company a “buy” rating in a report on Friday, May 31st. Wedbush reiterated an “outperform” rating and set a $85.00 price objective on shares of Western Digital in a report on Friday, April 26th. The Goldman Sachs Group lifted their price objective on shares of Western Digital from $58.00 to $76.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, Morgan Stanley lifted their price objective on shares of Western Digital from $83.00 to $86.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Six investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, Western Digital currently has an average rating of “Moderate Buy” and a consensus price target of $82.09.

Western Digital Company Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.