Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska Sells 2,900 Shares of Stock

Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska sold 2,900 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $61.48, for a total transaction of $178,292.00. Following the completion of the sale, the senior vice president now directly owns 37,448 shares of the company’s stock, valued at approximately $2,302,303.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Western Digital Price Performance

Western Digital stock opened at $62.85 on Wednesday. The firm has a market cap of $20.52 billion, a PE ratio of -12.65 and a beta of 1.37. Western Digital Co. has a 52-week low of $35.62 and a 52-week high of $81.55. The company has a quick ratio of 0.83, a current ratio of 1.32 and a debt-to-equity ratio of 0.53. The company’s 50 day moving average is $69.54 and its two-hundred day moving average is $68.75.

Western Digital (NASDAQ:WDC) last released its earnings results on Wednesday, July 31st. The data storage provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.17. The company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.77 billion. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. On average, research analysts expect that Western Digital Co. will post 8.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Western Digital

A number of hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its holdings in Western Digital by 1.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 15,962 shares of the data storage provider’s stock worth $1,209,000 after buying an additional 203 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Western Digital by 15.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,527 shares of the data storage provider’s stock valued at $116,000 after purchasing an additional 206 shares in the last quarter. Mather Group LLC. raised its holdings in shares of Western Digital by 10.7% in the 2nd quarter. Mather Group LLC. now owns 2,203 shares of the data storage provider’s stock valued at $167,000 after purchasing an additional 213 shares in the last quarter. Lindbrook Capital LLC raised its holdings 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 in the last quarter. Finally, Hanseatic Management Services Inc. raised its holdings in shares of Western Digital by 2.3% in the 2nd quarter. Hanseatic Management Services Inc. now owns 10,344 shares of the data storage provider’s stock valued at $784,000 after purchasing an additional 236 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WDC has been the subject of several analyst reports. StockNews.com raised shares of Western Digital from a “sell” rating to a “hold” rating in a research note on Saturday, July 6th. Loop Capital increased their price target on shares of Western Digital from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Summit Insights cut shares of Western Digital from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Wedbush increased their price target on shares of Western Digital from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Finally, Benchmark increased their price target on shares of Western Digital from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, Western Digital currently has an average rating of “Moderate Buy” and a consensus target price of $84.18.

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.