Western Digital (WDC) to Release Earnings on Wednesday

Western Digital (NASDAQ:WDC) is scheduled to post its quarterly earnings results after the market closes on Wednesday, July 31st. Analysts expect Western Digital to post earnings of $1.16 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Western Digital Stock Down 2.7 %

Shares of WDC stock opened at $66.43 on Tuesday. Western Digital has a one year low of $35.62 and a one year high of $81.55. The stock has a fifty day moving average price of $75.65 and a 200 day moving average price of $67.96. The company has a quick ratio of 1.07, a current ratio of 1.86 and a debt-to-equity ratio of 0.72.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Morgan Stanley raised their target price on Western Digital from $83.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Argus raised their target price on Western Digital from $68.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Robert W. Baird raised their target price on Western Digital from $65.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Raymond James cut Western Digital from an “outperform” rating to a “market perform” rating in a report on Monday, April 22nd. Finally, Wells Fargo & Company lifted their price objective on Western Digital from $72.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. Six equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $82.96.

Insider Activity at Western Digital

In related news, EVP Robert Soderbery sold 26,853 shares of Western Digital stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $73.48, for a total value of $1,973,158.44. Following the completion of the sale, the executive vice president now directly owns 144,623 shares in the company, valued at $10,626,898.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Gene M. Zamiska sold 416 shares of Western Digital stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $71.88, for a total value of $29,902.08. Following the completion of the sale, the senior vice president now directly owns 30,321 shares in the company, valued at $2,179,473.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Robert Soderbery sold 26,853 shares of Western Digital stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $73.48, for a total value of $1,973,158.44. Following the completion of the sale, the executive vice president now owns 144,623 shares of the company’s stock, valued at $10,626,898.04. The disclosure for this sale can be found here. Insiders sold 27,488 shares of company stock valued at $2,020,143 over the last ninety days. 0.28% of the stock is owned by insiders.

About Western Digital

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.