Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska Sells 658 Shares

Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska sold 658 shares of Western Digital stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total transaction of $46,053.42. Following the transaction, the senior vice president now directly owns 28,863 shares in the company, valued at $2,020,121.37. This represents a 2.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Western Digital Trading Down 2.1 %

Shares of WDC opened at $71.50 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.47. Western Digital Co. has a fifty-two week low of $46.42 and a fifty-two week high of $81.55. The stock has a market capitalization of $24.72 billion, a PE ratio of 42.06 and a beta of 1.40. The company’s fifty day moving average is $66.73 and its 200 day moving average is $69.07.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, October 24th. The data storage provider reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.23. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the previous year, the business posted ($1.97) earnings per share. The business’s revenue was up 48.9% compared to the same quarter last year. Sell-side analysts expect that Western Digital Co. will post 6.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Evercore ISI reaffirmed an “outperform” rating and set a $85.00 price target on shares of Western Digital in a report on Thursday, August 15th. Rosenblatt Securities reaffirmed a “buy” rating and set a $115.00 price target on shares of Western Digital in a report on Friday, October 25th. Wedbush reaffirmed an “outperform” rating and set a $95.00 price target on shares of Western Digital in a report on Friday, October 25th. TD Cowen lowered their price target on shares of Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Finally, Susquehanna lifted their price objective on shares of Western Digital from $75.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.71.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Synovus Financial Corp increased its position in Western Digital by 20.0% during the third quarter. Synovus Financial Corp now owns 9,562 shares of the data storage provider’s stock valued at $653,000 after acquiring an additional 1,591 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Western Digital by 123.5% during the third quarter. Tidal Investments LLC now owns 41,028 shares of the data storage provider’s stock valued at $2,802,000 after purchasing an additional 22,670 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Western Digital during the third quarter valued at $183,000. Sanctuary Advisors LLC boosted its stake in shares of Western Digital by 13.2% during the third quarter. Sanctuary Advisors LLC now owns 20,285 shares of the data storage provider’s stock valued at $1,348,000 after purchasing an additional 2,371 shares during the period. Finally, Neo Ivy Capital Management purchased a new stake in shares of Western Digital during the third quarter valued at $720,000. Institutional investors own 92.51% of the company’s stock.

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.