Western Digital Co. (NASDAQ:WDC – Get Free Report) has been given an average rating of “Moderate Buy” by the twenty-four brokerages that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $82.09.

A number of equities research analysts recently commented on WDC shares. Wells Fargo & Company lifted their price target on shares of Western Digital from $72.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, April 10th. Wedbush reissued an “outperform” rating and set a $85.00 target price on shares of Western Digital in a report on Friday, April 26th. Susquehanna boosted their target price on shares of Western Digital from $80.00 to $88.00 and gave the company a “neutral” rating in a report on Tuesday, June 11th. Raymond James cut shares of Western Digital from an “outperform” rating to a “market perform” rating in a report on Monday, April 22nd. Finally, Mizuho boosted their target price on shares of Western Digital from $80.00 to $90.00 and gave the company a “buy” rating in a report on Friday, May 31st.

Read Our Latest Stock Report on Western Digital

Insider Buying and Selling at Western Digital

In other Western Digital news, EVP Robert Soderbery sold 26,853 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $73.48, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Gene M. Zamiska sold 416 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $71.88, for a total transaction of $29,902.08. Following the completion of the transaction, the senior vice president now directly owns 30,321 shares of the company’s stock, valued at $2,179,473.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert Soderbery sold 26,853 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $73.48, for a total transaction of $1,973,158.44. Following the transaction, the executive vice president now directly 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 a total of 27,488 shares of company stock worth $2,020,143 over the last three months. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Western Digital

Several hedge funds and other institutional investors have recently modified their holdings of WDC. Kodai Capital Management LP bought a new position in shares of Western Digital during the fourth quarter valued at about $212,900,000. Norges Bank bought a new position in shares of Western Digital during the fourth quarter valued at about $150,958,000. Canada Pension Plan Investment Board raised its stake in shares of Western Digital by 1,089.7% during the first quarter. Canada Pension Plan Investment Board now owns 1,071,600 shares of the data storage provider’s stock valued at $73,126,000 after acquiring an additional 981,527 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in shares of Western Digital during the fourth quarter valued at about $48,466,000. Finally, Mizuho Markets Americas LLC bought a new position in Western Digital in the fourth quarter worth about $37,260,000. 92.51% of the stock is owned by institutional investors.

Western Digital Price Performance

Western Digital stock opened at $80.24 on Thursday. Western Digital has a 52 week low of $35.62 and a 52 week high of $81.55. The company’s 50 day moving average price is $75.58 and its two-hundred day moving average price is $65.90. The company has a quick ratio of 1.07, a current ratio of 1.86 and a debt-to-equity ratio of 0.72. The stock has a market cap of $26.20 billion, a P/E ratio of -16.14 and a beta of 1.37.

Western Digital (NASDAQ:WDC – Get Free Report) last posted its earnings results on Thursday, April 25th. The data storage provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.21 by $0.42. Western Digital had a negative net margin of 12.87% and a negative return on equity of 13.75%. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.37 billion. During the same quarter last year, the firm earned ($1.57) EPS. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. On average, equities analysts predict that Western Digital will post -1.45 earnings per share for the current year.

Western Digital Company Profile

(Get Free Report

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.

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