Western Digital (NASDAQ:WDC) Price Target Increased to $100.00 by Analysts at Robert W. Baird

Western Digital (NASDAQ:WDC) had its target price lifted by Robert W. Baird from $65.00 to $100.00 in a research report released on Friday morning, Benzinga reports. They currently have an outperform rating on the data storage provider’s stock.

A number of other research analysts have also weighed in on WDC. Wells Fargo & Company increased their price target on Western Digital from $72.00 to $95.00 and gave the stock an overweight rating in a research note on Wednesday, April 10th. Rosenblatt Securities upgraded Western Digital from a neutral rating to a buy rating in a report on Friday, April 5th. The Goldman Sachs Group increased their price objective on shares of Western Digital from $58.00 to $76.00 and gave the stock a neutral rating in a report on Friday, April 12th. StockNews.com lowered shares of Western Digital from a hold rating to a sell rating in a research report on Tuesday, February 20th. Finally, Mizuho increased their target price on Western Digital from $66.00 to $80.00 and gave the stock a buy rating in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Western Digital currently has an average rating of Moderate Buy and a consensus price target of $77.25.

Western Digital Trading Up 2.8 %

WDC opened at $71.36 on Friday. The business’s fifty day simple moving average is $65.08 and its 200 day simple moving average is $54.96. Western Digital has a 52 week low of $32.01 and a 52 week high of $76.92. The company has a quick ratio of 0.98, a current ratio of 1.67 and a debt-to-equity ratio of 0.73.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, April 25th. The data storage provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.42. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.37 billion. Western Digital had a negative net margin of 12.87% and a negative return on equity of 13.67%. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.57) earnings per share. As a group, equities analysts predict that Western Digital will post -2.21 EPS for the current year.

Insider Transactions at Western Digital

In other Western Digital news, Director Kimberly Alexy sold 2,648 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.95, for a total transaction of $185,227.60. Following the sale, the director now owns 20,509 shares in the company, valued at $1,434,604.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Gene M. Zamiska sold 443 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $75.00, for a total value of $33,225.00. Following the transaction, the senior vice president now directly owns 30,958 shares in the company, valued at approximately $2,321,850. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kimberly Alexy sold 2,648 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.95, for a total transaction of $185,227.60. Following the sale, the director now owns 20,509 shares in the company, valued at approximately $1,434,604.55. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On Western Digital

Several institutional investors have recently made changes to their positions in WDC. Highview Capital Management LLC DE acquired a new stake in shares of Western Digital in the 1st quarter worth about $701,000. ZWJ Investment Counsel Inc. acquired a new position in shares of Western Digital during the first quarter worth approximately $267,000. Lindbrook Capital LLC increased its position in Western Digital by 37.3% in the 1st quarter. Lindbrook Capital LLC now owns 843 shares of the data storage provider’s stock valued at $58,000 after acquiring an additional 229 shares during the period. Whalen Wealth Management Inc. acquired a new stake in Western Digital in the 1st quarter valued at approximately $538,000. Finally, Wolff Financial Management LLC bought a new stake in Western Digital during the 1st quarter valued at $220,000. 92.51% of the stock is owned by institutional investors.

Western Digital Company Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.