Gene M. Zamiska Sells 313 Shares of Western Digital Co. (NASDAQ:WDC) Stock

Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska sold 313 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $72.63, for a total value of $22,733.19. Following the sale, the senior vice president now owns 28,383 shares in the company, valued at approximately $2,061,457.29. The trade was a 1.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Western Digital Price Performance

Shares of Western Digital stock traded up $0.44 during trading hours on Monday, reaching $73.43. 5,323,612 shares of the company’s stock were exchanged, compared to its average volume of 6,070,697. The business has a fifty day moving average of $67.10 and a two-hundred day moving average of $69.04. The company has a quick ratio of 0.91, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $25.39 billion, a P/E ratio of 42.94 and a beta of 1.42. Western Digital Co. has a 1 year low of $46.47 and a 1 year high of $81.55.

Western Digital (NASDAQ:WDC) last released its earnings results on Thursday, October 24th. The data storage provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.23. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.12 billion. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The business’s revenue was up 48.9% on a year-over-year basis. During the same period last year, the company posted ($1.97) EPS. As a group, research analysts predict that Western Digital Co. will post 6.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Western Digital

Hedge funds have recently modified their holdings of the company. AGF Management Ltd. increased its position in shares of Western Digital by 28,925.8% during the second quarter. AGF Management Ltd. now owns 2,202,190 shares of the data storage provider’s stock valued at $166,860,000 after acquiring an additional 2,194,603 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in Western Digital by 247.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,446,509 shares of the data storage provider’s stock valued at $109,602,000 after purchasing an additional 1,029,658 shares during the last quarter. Sachem Head Capital Management LP raised its position in Western Digital by 75.2% in the third quarter. Sachem Head Capital Management LP now owns 2,030,000 shares of the data storage provider’s stock valued at $138,629,000 after purchasing an additional 871,500 shares during the period. Bank of New York Mellon Corp lifted its stake in Western Digital by 39.6% during the second quarter. Bank of New York Mellon Corp now owns 2,861,229 shares of the data storage provider’s stock worth $216,795,000 after purchasing an additional 810,977 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Western Digital by 24.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,711,428 shares of the data storage provider’s stock worth $253,453,000 after buying an additional 732,344 shares during the period. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WDC. Rosenblatt Securities reiterated a “buy” rating and issued a $115.00 target price on shares of Western Digital in a research report on Friday, October 25th. Barclays raised their target price on shares of Western Digital from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. BNP Paribas lowered their price target on shares of Western Digital from $95.00 to $90.00 in a report on Thursday, October 24th. Susquehanna lifted their price objective on Western Digital from $75.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Finally, TD Cowen dropped their target price on Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.71.

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.