Shares of Western Digital Corp (NASDAQ:WDC) have earned a consensus recommendation of “Hold” from the twenty-nine ratings firms that are covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $60.98.

Several research firms have recently commented on WDC. Longbow Research reaffirmed a “buy” rating on shares of Western Digital in a research report on Tuesday, October 15th. Wedbush raised Western Digital from an “underperform” rating to a “neutral” rating and upped their target price for the company from $32.50 to $54.50 in a research report on Thursday, August 1st. KeyCorp reaffirmed a “hold” rating on shares of Western Digital in a research report on Tuesday, September 10th. UBS Group set a $63.00 price target on Western Digital and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Finally, Royal Bank of Canada reduced their price target on Western Digital to $64.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st.

In other Western Digital news, COO Michael D. Cordano sold 4,640 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $55.35, for a total transaction of $256,824.00. Following the completion of the sale, the chief operating officer now directly owns 281,344 shares in the company, valued at $15,572,390.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew E. Massengill sold 3,110 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $52.17, for a total value of $162,248.70. Following the sale, the director now owns 22,387 shares of the company’s stock, valued at $1,167,929.79. The disclosure for this sale can be found here. Insiders have sold 103,870 shares of company stock valued at $6,143,776 over the last 90 days. Corporate insiders own 0.44% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. TCI Wealth Advisors Inc. lifted its stake in shares of Western Digital by 62.1% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 488 shares of the data storage provider’s stock valued at $29,000 after acquiring an additional 187 shares during the last quarter. Augustine Asset Management Inc. lifted its stake in shares of Western Digital by 0.4% in the 3rd quarter. Augustine Asset Management Inc. now owns 51,445 shares of the data storage provider’s stock valued at $3,068,000 after acquiring an additional 197 shares during the last quarter. Arthur M. Cohen & Associates LLC lifted its stake in shares of Western Digital by 2.6% in the 2nd quarter. Arthur M. Cohen & Associates LLC now owns 7,950 shares of the data storage provider’s stock valued at $378,000 after acquiring an additional 200 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in shares of Western Digital by 6.9% in the 2nd quarter. Meeder Asset Management Inc. now owns 3,237 shares of the data storage provider’s stock valued at $154,000 after acquiring an additional 210 shares during the last quarter. Finally, Sigma Planning Corp lifted its stake in shares of Western Digital by 1.3% in the 3rd quarter. Sigma Planning Corp now owns 17,160 shares of the data storage provider’s stock valued at $1,023,000 after acquiring an additional 227 shares during the last quarter. Institutional investors own 84.28% of the company’s stock.

Western Digital stock opened at $50.38 on Friday. Western Digital has a 12 month low of $33.83 and a 12 month high of $65.31. The stock’s 50 day moving average is $57.46 and its 200-day moving average is $52.01. The company has a current ratio of 1.98, a quick ratio of 1.22 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $15.39 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 16.25 and a beta of 1.82.

Western Digital (NASDAQ:WDC) last posted its earnings results on Wednesday, October 30th. The data storage provider reported $0.34 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.41. Western Digital had a positive return on equity of 3.28% and a negative net margin of 9.89%. The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the business earned $3.04 earnings per share. The firm’s revenue for the quarter was down 19.6% on a year-over-year basis. As a group, equities research analysts predict that Western Digital will post 1.6 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.97%. Western Digital’s payout ratio is presently 52.49%.

About Western Digital

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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Analyst Recommendations for Western Digital (NASDAQ:WDC)

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