Western Digital (NASDAQ:WDC) Given New $72.00 Price Target at Susquehanna

Western Digital (NASDAQ:WDCGet Free Report) had its price target dropped by investment analysts at Susquehanna from $83.00 to $72.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the data storage provider’s stock. Susquehanna’s price target points to a potential upside of 12.06% from the stock’s previous close.

A number of other analysts have also weighed in on the company. Mizuho lowered their target price on Western Digital from $90.00 to $82.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Benchmark lowered Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price target for the company. in a research report on Thursday, December 19th. Wells Fargo & Company dropped their price objective on Western Digital from $95.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Bank of America reduced their target price on shares of Western Digital from $89.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $95.00 price target on shares of Western Digital in a report on Friday, January 17th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Western Digital currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.11.

Get Our Latest Research Report on Western Digital

Western Digital Stock Up 2.3 %

NASDAQ WDC traded up $1.45 on Thursday, reaching $64.25. 4,383,616 shares of the stock traded hands, compared to its average volume of 6,000,446. Western Digital has a 12 month low of $52.77 and a 12 month high of $81.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.47. The company has a fifty day moving average price of $65.70 and a 200-day moving average price of $65.62. The company has a market cap of $22.21 billion, a price-to-earnings ratio of 38.14 and a beta of 1.43.

Western Digital (NASDAQ:WDCGet Free Report) last released its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.36). Western Digital had a return on equity of 8.57% and a net margin of 4.81%. As a group, research analysts forecast that Western Digital will post 5.54 EPS for the current fiscal year.

Insider Transactions at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 658 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total value of $46,053.42. Following the completion of the sale, the senior vice president now directly owns 28,863 shares in the company, valued at $2,020,121.37. This represents a 2.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 1,347 shares of company stock valued at $93,027 over the last 90 days. 0.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Eastern Bank purchased a new position in Western Digital during the third quarter worth about $27,000. Versant Capital Management Inc increased its holdings in shares of Western Digital by 278.9% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock worth $25,000 after buying an additional 304 shares during the last quarter. True Wealth Design LLC raised its position in shares of Western Digital by 2,184.2% during the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock valued at $30,000 after buying an additional 415 shares during the period. Comprehensive Financial Planning Inc. PA acquired a new position in Western Digital in the fourth quarter valued at approximately $30,000. Finally, Capital Performance Advisors LLP purchased a new position in Western Digital in the third quarter worth approximately $41,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Western Digital Company Profile

(Get Free Report)

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.

Read More

Analyst Recommendations for Western Digital (NASDAQ:WDC)

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.