A number of firms have modified their ratings and price targets on shares of Western Digital (NASDAQ: WDC) recently:

  • 12/6/2018 – Western Digital had its price target lowered by analysts at Cowen Inc from $60.00 to $50.00. They now have a “market perform” rating on the stock.
  • 12/6/2018 – Western Digital had its “buy” rating reaffirmed by analysts at Bank of America Corp. They now have a $68.00 price target on the stock, down previously from $75.00.
  • 12/6/2018 – Western Digital was upgraded by analysts at Craig Hallum from a “hold” rating to a “buy” rating.
  • 12/3/2018 – Western Digital had its price target lowered by analysts at Royal Bank of Canada to $54.00. They now have a “sector perform” rating on the stock.
  • 11/20/2018 – Western Digital had its “neutral” rating reaffirmed by analysts at Susquehanna Bancshares Inc. They now have a $44.00 price target on the stock, down previously from $120.00.
  • 11/20/2018 – Western Digital was downgraded by analysts at UBS Group AG from a “positive” rating to a “neutral” rating.
  • 11/17/2018 – Western Digital had its “strong sell” rating reaffirmed by analysts at Zacks Investment Research. According to Zacks, “Western Digital reported disappointing first-quarter fiscal 2019 results. Both top and bottom line declined year over year. It also provided a tepid forthcoming guidance. The company intends to temporarily reduce flash output. Further, sluggishness in client compute hard drives and slower-than-expected trends in flash market pricing remains a headwind. Geopolitical tension in China, changes in monetary policy and foreign exchange fluctuations has also impacted the quarter’s results. Moreover, stiff competition from Seagate, Hitachi, Samsung and Intel in the storage coupled with pricing pressure adds to woes. Customer concentration also remains a headwind. Shares of the company have underperformed the industry over the past one year.”
  • 11/9/2018 – Western Digital had its “buy” rating reaffirmed by analysts at Robert W. Baird. They now have a $55.00 price target on the stock.
  • 11/3/2018 – Western Digital was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 10/29/2018 – Western Digital was downgraded by analysts at Loop Capital from a “buy” rating to a “hold” rating. They now have a $42.00 price target on the stock, down previously from $80.00.
  • 10/29/2018 – Western Digital had its price target lowered by analysts at Citigroup Inc from $106.00 to $75.00. They now have a “buy” rating on the stock.
  • 10/26/2018 – Western Digital had its price target lowered by analysts at Royal Bank of Canada to $57.00. They now have a “sector perform” rating on the stock.
  • 10/26/2018 – Western Digital had its price target lowered by analysts at Morgan Stanley from $96.00 to $53.00. They now have a “reduce” rating on the stock.
  • 10/26/2018 – Western Digital had its price target lowered by analysts at Wells Fargo & Co from $115.00 to $75.00. They now have an “outperform” rating on the stock.
  • 10/26/2018 – Western Digital was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating. They now have a $62.00 price target on the stock, down previously from $117.00.
  • 10/26/2018 – Western Digital was downgraded by analysts at Longbow Research from a “buy” rating to a “neutral” rating.
  • 10/26/2018 – Western Digital had its price target lowered by analysts at BMO Capital Markets from $60.00 to $50.00. They now have a “market perform” rating on the stock.
  • 10/26/2018 – Western Digital had its price target lowered by analysts at Cowen Inc from $70.00 to $60.00. They now have a “market perform” rating on the stock.
  • 10/26/2018 – Western Digital was given a new $50.00 price target on by analysts at Macquarie. They now have a “hold” rating on the stock.
  • 10/26/2018 – Western Digital was downgraded by analysts at Craig Hallum from a “buy” rating to a “hold” rating. They now have a $59.00 price target on the stock, down previously from $115.00.
  • 10/26/2018 – Western Digital had its “hold” rating reaffirmed by analysts at Benchmark Co..
  • 10/26/2018 – Western Digital had its price target lowered by analysts at Loop Capital to $80.00. They now have an “average” rating on the stock.
  • 10/25/2018 – Western Digital had its “hold” rating reaffirmed by analysts at BMO Capital Markets. They now have a $60.00 price target on the stock.
  • 10/12/2018 – Western Digital was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.

NASDAQ WDC opened at $43.60 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.41 and a quick ratio of 1.70. The company has a market cap of $12.46 billion, a P/E ratio of 3.23, a PEG ratio of 0.37 and a beta of 1.15. Western Digital Corp has a 52 week low of $40.58 and a 52 week high of $106.96.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, October 25th. The data storage provider reported $2.78 EPS for the quarter, topping the consensus estimate of $2.70 by $0.08. The firm had revenue of $5.03 billion during the quarter, compared to analyst estimates of $5.14 billion. Western Digital had a net margin of 2.46% and a return on equity of 35.37%. Research analysts forecast that Western Digital Corp will post 6.19 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 14th. Investors of record on Friday, December 28th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, December 27th. This represents a $2.00 annualized dividend and a dividend yield of 4.59%. Western Digital’s dividend payout ratio (DPR) is presently 14.80%.

In related news, Director Matthew E. Massengill sold 1,681 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $47.68, for a total transaction of $80,150.08. Following the completion of the transaction, the director now owns 17,848 shares in the company, valued at approximately $850,992.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.36% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Western Digital by 10.2% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 37,784 shares of the data storage provider’s stock valued at $2,925,000 after acquiring an additional 3,489 shares during the last quarter. TD Asset Management Inc. boosted its holdings in shares of Western Digital by 0.8% in the 2nd quarter. TD Asset Management Inc. now owns 101,239 shares of the data storage provider’s stock valued at $7,837,000 after acquiring an additional 838 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Western Digital by 14.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 23,847 shares of the data storage provider’s stock valued at $1,846,000 after acquiring an additional 3,065 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Western Digital by 16,520.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,662 shares of the data storage provider’s stock valued at $129,000 after acquiring an additional 1,652 shares during the last quarter. Finally, Alps Advisors Inc. boosted its holdings in shares of Western Digital by 5.1% in the 2nd quarter. Alps Advisors Inc. now owns 17,596 shares of the data storage provider’s stock valued at $1,362,000 after acquiring an additional 861 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.

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