Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska Sells 2,169 Shares

Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska sold 2,169 shares of Western Digital stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $61.96, for a total transaction of $134,391.24. Following the completion of the sale, the senior vice president now directly owns 32,601 shares of the company’s stock, valued at approximately $2,019,957.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Western Digital Stock Performance

Shares of WDC traded down $0.11 during mid-day trading on Wednesday, hitting $62.95. The stock had a trading volume of 3,681,226 shares, compared to its average volume of 6,447,652. Western Digital Co. has a 52 week low of $35.62 and a 52 week high of $81.55. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.32 and a quick ratio of 0.78. The business has a fifty day moving average price of $67.99 and a 200-day moving average price of $69.00. The firm has a market cap of $21.62 billion, a P/E ratio of -12.67 and a beta of 1.39.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Wednesday, July 31st. The data storage provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.17. The company had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.77 billion. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.75%. On average, equities research analysts expect that Western Digital Co. will post 8.73 EPS for the current year.

Institutional Trading of Western Digital

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Western Digital by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 38,579,938 shares of the data storage provider’s stock valued at $2,020,431,000 after acquiring an additional 215,207 shares during the period. DNB Asset Management AS raised its stake in shares of Western Digital by 2.7% during the 2nd quarter. DNB Asset Management AS now owns 7,857,586 shares of the data storage provider’s stock valued at $595,369,000 after purchasing an additional 206,756 shares during the period. Kodai Capital Management LP purchased a new stake in Western Digital during the 4th quarter worth about $212,900,000. Charles Schwab Investment Management Inc. boosted its stake in Western Digital by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,096,993 shares of the data storage provider’s stock worth $162,190,000 after purchasing an additional 68,879 shares during the period. Finally, Norges Bank purchased a new position in Western Digital during the 4th quarter valued at about $150,958,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Rosenblatt Securities reissued a “buy” rating and set a $115.00 target price on shares of Western Digital in a research report on Thursday, August 1st. StockNews.com raised Western Digital from a “sell” rating to a “hold” rating in a report on Saturday, July 6th. Evercore ISI restated an “outperform” rating and issued a $85.00 target price on shares of Western Digital in a report on Thursday, August 15th. Benchmark upped their price target on Western Digital from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Wedbush raised their price objective on Western Digital from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.18.

About Western Digital

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.