Somewhat Favorable Press Coverage Somewhat Unlikely to Impact Western Digital Corporation (WDC) Share Price
Headlines about Western Digital Corporation (NASDAQ:WDC) have trended somewhat positive recently, according to Accern Sentiment. The research group identifies negative and positive media coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Western Digital Corporation earned a news sentiment score of 0.11 on Accern’s scale. Accern also gave news stories about the data storage provider an impact score of 43.5982416894706 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
These are some of the news stories that may have impacted Accern’s scoring:
- CORRECTED-UPDATE 1-Western Digital takes legal step to stop Toshiba memory investment (feeds.reuters.com)
- UPDATE 2-Western Digital takes legal step to stop Toshiba memory investment (feeds.reuters.com)
- Western Digital Corporation’s (WDC) add Rating Reiterated at UBS AG (americanbankingnews.com)
- Insider Selling: Western Digital Corporation (WDC) Insider Sells 9,404 Shares of Stock (americanbankingnews.com)
Several analysts have recently weighed in on the stock. UBS AG reaffirmed a “neutral” rating and issued a $92.00 target price (up previously from $90.00) on shares of Western Digital Corporation in a report on Wednesday, June 28th. Jefferies Group LLC reissued a “hold” rating and set a $90.00 price objective on shares of Western Digital Corporation in a report on Friday, August 18th. Longbow Research reissued a “buy” rating and set a $120.00 price objective on shares of Western Digital Corporation in a report on Thursday, September 14th. Summit Redstone reissued a “hold” rating on shares of Western Digital Corporation in a report on Wednesday, September 13th. Finally, J P Morgan Chase & Co reissued an “overweight” rating on shares of Western Digital Corporation in a report on Tuesday, August 1st. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $111.34.
Shares of Western Digital Corporation (NASDAQ WDC) opened at 86.37 on Thursday. The stock has a market capitalization of $25.47 billion, a P/E ratio of 64.46 and a beta of 1.21. Western Digital Corporation has a 1-year low of $52.10 and a 1-year high of $95.77. The firm’s 50-day moving average is $86.12 and its 200 day moving average is $86.39. Western Digital Corporation also was the recipient of some unusual options trading activity on Monday. Stock investors acquired 6,330 call options on the stock. This is an increase of approximately 292% compared to the typical daily volume of 1,613 call options.
Western Digital Corporation (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, July 27th. The data storage provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.42. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.82 billion. Western Digital Corporation had a net margin of 2.08% and a return on equity of 21.23%. The company’s revenue for the quarter was up 38.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 earnings per share. On average, analysts expect that Western Digital Corporation will post $12.50 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.32%. The ex-dividend date is Thursday, September 28th. Western Digital Corporation’s payout ratio is presently 156.25%.
In other Western Digital Corporation news, EVP Srinivasan Sivaram sold 16,049 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $85.06, for a total transaction of $1,365,127.94. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark P. Long sold 1,517 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $80.97, for a total value of $122,831.49. Following the transaction, the chief financial officer now owns 88,207 shares in the company, valued at approximately $7,142,120.79. The disclosure for this sale can be found here. In the last quarter, insiders have sold 144,295 shares of company stock worth $12,689,056. Corporate insiders own 0.46% of the company’s stock.
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About Western Digital Corporation
Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions).
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