Analysts Set Western Digital Co. (NASDAQ:WDC) PT at $84.42

Western Digital Co. (NASDAQ:WDC) has received a consensus recommendation of “Moderate Buy” from the twenty research firms that are covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $83.05.

WDC has been the subject of several research analyst reports. StockNews.com started coverage on shares of Western Digital in a report on Wednesday. They issued a “buy” rating for the company. Wedbush restated an “outperform” rating and set a $95.00 target price on shares of Western Digital in a report on Monday, February 10th. Wells Fargo & Company cut their price target on shares of Western Digital from $85.00 to $75.00 and set an “overweight” rating on the stock in a research report on Tuesday. Citigroup lifted their target price on Western Digital from $60.45 to $64.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, The Goldman Sachs Group boosted their target price on shares of Western Digital from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, January 31st.

Institutional Investors Weigh In On Western Digital

Several hedge funds have recently modified their holdings of WDC. Norges Bank acquired a new position in shares of Western Digital in the fourth quarter valued at approximately $352,572,000. AMF Tjanstepension AB acquired a new position in Western Digital during the 4th quarter worth about $94,181,000. Vanguard Group Inc. lifted its stake in shares of Western Digital by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 42,459,767 shares of the data storage provider’s stock worth $2,531,876,000 after acquiring an additional 1,439,149 shares during the period. Freestone Grove Partners LP bought a new stake in Western Digital in the fourth quarter valued at approximately $68,950,000. Finally, Atalan Capital Partners LP acquired a new stake in Western Digital during the 4th quarter valued at approximately $62,612,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Western Digital Stock Up 0.1 %

Shares of NASDAQ WDC opened at $49.07 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. The company has a market cap of $17.07 billion, a price-to-earnings ratio of 11.68 and a beta of 1.44. Western Digital has a 12-month low of $39.58 and a 12-month high of $61.16. The firm’s 50-day simple moving average is $64.14 and its 200 day simple moving average is $65.51.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.36). Western Digital had a net margin of 9.95% and a return on equity of 15.68%. On average, research analysts expect that Western Digital will post 4.89 earnings per share for the current fiscal year.

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.