Media stories about Western Digital (NASDAQ:WDC) have trended somewhat negative this week, according to Accern. The research firm ranks the sentiment of press coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Western Digital earned a news sentiment score of -0.09 on Accern’s scale. Accern also gave press coverage about the data storage provider an impact score of 43.3313522808492 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.

These are some of the news stories that may have impacted Accern Sentiment’s analysis:

Shares of Western Digital (NASDAQ WDC) traded up $0.50 during midday trading on Friday, hitting $79.36. 6,455,273 shares of the stock were exchanged, compared to its average volume of 4,161,691. The firm has a market cap of $23,430.00, a P/E ratio of 8.72 and a beta of 1.17. Western Digital has a 1 year low of $60.78 and a 1 year high of $95.77. The company has a quick ratio of 2.13, a current ratio of 2.64 and a debt-to-equity ratio of 1.07.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, October 26th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.01 by $0.55. The firm had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.13 billion. Western Digital had a net margin of 7.38% and a return on equity of 26.48%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.18 EPS. sell-side analysts expect that Western Digital will post 12.01 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a $0.50 dividend. The ex-dividend date is Thursday, December 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.52%. Western Digital’s dividend payout ratio (DPR) is currently 41.75%.

Western Digital announced that its board has authorized a stock repurchase plan on Thursday, November 9th that authorizes the company to repurchase $2.10 billion in shares. This repurchase authorization authorizes the data storage provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

WDC has been the topic of several research reports. Vetr lowered shares of Western Digital from a “strong-buy” rating to a “buy” rating and set a $95.94 price target on the stock. in a report on Tuesday, August 22nd. Mizuho reaffirmed a “buy” rating and set a $105.00 price target on shares of Western Digital in a report on Sunday, October 8th. Maxim Group reiterated a “buy” rating and set a $108.00 target price on shares of Western Digital in a research report on Wednesday, August 30th. Zacks Investment Research upgraded shares of Western Digital from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, ValuEngine downgraded shares of Western Digital from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Nine investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and three have assigned a strong buy rating to the stock. Western Digital has a consensus rating of “Buy” and an average price target of $114.50.

In other news, insider Michael D. Cordano sold 9,404 shares of Western Digital stock in a transaction on Monday, September 18th. The shares were sold at an average price of $88.71, for a total value of $834,228.84. Following the completion of the sale, the insider now owns 75,385 shares in the company, valued at approximately $6,687,403.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael D. Cordano sold 1,397 shares of Western Digital stock in a transaction on Monday, November 13th. The shares were sold at an average price of $88.13, for a total transaction of $123,117.61. Following the completion of the sale, the insider now owns 70,556 shares of the company’s stock, valued at approximately $6,218,100.28. The disclosure for this sale can be found here. Insiders sold a total of 25,488 shares of company stock valued at $2,242,856 in the last quarter. 0.31% of the stock is currently owned by company insiders.

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Western Digital Company Profile

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).

Insider Buying and Selling by Quarter for Western Digital (NASDAQ:WDC)

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