Gene M. Zamiska Sells 376 Shares of Western Digital Co. (NASDAQ:WDC) Stock

Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska sold 376 shares of Western Digital stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $64.47, for a total transaction of $24,240.72. Following the completion of the sale, the senior vice president now owns 29,971 shares of the company’s stock, valued at $1,932,230.37. This trade represents a 1.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Western Digital Trading Up 0.8 %

NASDAQ WDC opened at $66.43 on Friday. Western Digital Co. has a twelve month low of $46.05 and a twelve month high of $81.55. The business’s fifty day moving average is $66.48 and its 200 day moving average is $69.10. The company has a quick ratio of 0.91, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The company has a market cap of $22.97 billion, a price-to-earnings ratio of 39.08 and a beta of 1.40.

Western Digital (NASDAQ:WDC) last posted its earnings results on Thursday, October 24th. The data storage provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.55 by $0.23. The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.12 billion. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The firm’s revenue was up 48.9% compared to the same quarter last year. During the same period last year, the company earned ($1.97) EPS. As a group, sell-side analysts expect that Western Digital Co. will post 6.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $115.00 price target on shares of Western Digital in a research report on Friday, October 25th. UBS Group dropped their price objective on Western Digital from $74.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Barclays upped their target price on Western Digital from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. BNP Paribas dropped their price target on Western Digital from $95.00 to $90.00 in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group cut their price objective on shares of Western Digital from $79.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Western Digital has an average rating of “Moderate Buy” and an average target price of $87.71.

Institutional Trading of Western Digital

A number of institutional investors and hedge funds have recently bought and sold shares of WDC. Eastern Bank acquired a new stake in Western Digital during the 3rd quarter valued at approximately $27,000. Fairfield Financial Advisors LTD bought a new stake in shares of Western Digital in the 2nd quarter valued at $29,000. True Wealth Design LLC boosted its stake in shares of Western Digital by 2,184.2% in the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock valued at $30,000 after purchasing an additional 415 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of Western Digital during the second quarter worth $34,000. Finally, 1620 Investment Advisors Inc. bought a new position in Western Digital during the second quarter worth $34,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

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.