Several other equities research analysts have also commented on WDC. Evercore ISI lowered Western Digital from an in-line rating to an underperform rating and set a $30.00 price target on the stock. in a research note on Monday, January 14th. Wells Fargo & Co reaffirmed a buy rating and issued a $65.00 target price (down previously from $75.00) on shares of Western Digital in a research note on Wednesday, January 16th. Royal Bank of Canada reduced their target price on Western Digital to $40.00 and set a sector perform rating on the stock in a research note on Friday, January 18th. BMO Capital Markets reaffirmed a market perform rating on shares of Western Digital in a research note on Friday, January 25th. Finally, Citigroup reduced their target price on Western Digital to $63.00 and set a buy rating on the stock in a research note on Friday, January 25th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. Western Digital has a consensus rating of Hold and an average price target of $60.42.
Shares of NASDAQ:WDC traded up $1.04 during trading on Wednesday, hitting $50.80. 3,808,404 shares of the stock were exchanged, compared to its average volume of 7,169,812. The firm has a market capitalization of $14.78 billion, a price-to-earnings ratio of 3.76, a price-to-earnings-growth ratio of 0.58 and a beta of 1.49. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.11 and a quick ratio of 1.45. Western Digital has a 12-month low of $33.83 and a 12-month high of $88.62.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 annualized dividend and a yield of 3.94%. Western Digital’s dividend payout ratio (DPR) is presently 14.80%.
In other Western Digital news, insider Mark P. Long sold 17,623 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $50.00, for a total value of $881,150.00. Following the completion of the transaction, the insider now directly owns 158,744 shares in the company, valued at approximately $7,937,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.36% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Alpha Omega Wealth Management LLC increased its holdings in shares of Western Digital by 4,440.0% during the 4th quarter. Alpha Omega Wealth Management LLC now owns 681 shares of the data storage provider’s stock worth $25,000 after buying an additional 666 shares during the last quarter. First Interstate Bank increased its holdings in shares of Western Digital by 159.2% during the 1st quarter. First Interstate Bank now owns 578 shares of the data storage provider’s stock worth $28,000 after buying an additional 355 shares during the last quarter. Ropes Wealth Advisors LLC increased its holdings in shares of Western Digital by 706.0% during the 4th quarter. Ropes Wealth Advisors LLC now owns 806 shares of the data storage provider’s stock worth $30,000 after buying an additional 706 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of Western Digital by 57.0% during the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 650 shares of the data storage provider’s stock worth $31,000 after buying an additional 236 shares during the last quarter. Finally, Investors Research Corp acquired a new stake in shares of Western Digital during the 1st quarter worth $36,000. Hedge funds and other institutional investors own 84.57% of the company’s stock.
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.
Featured Article: Is it better to buy a fund with a higher or lower NAV?
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Western Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Digital and related companies with MarketBeat.com's FREE daily email newsletter.