Western Digital (NASDAQ:WDC) Given New $80.00 Price Target at Robert W. Baird

Western Digital (NASDAQ:WDC) had its target price cut by Robert W. Baird from $100.00 to $80.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an outperform rating on the data storage provider’s stock.

WDC has been the subject of a number of other research reports. Citigroup dropped their price objective on Western Digital from $87.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Rosenblatt Securities decreased their price objective on shares of Western Digital from $115.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday. The Goldman Sachs Group dropped their target price on shares of Western Digital from $81.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Susquehanna decreased their price target on shares of Western Digital from $83.00 to $72.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, BNP Paribas dropped their price objective on Western Digital from $95.00 to $90.00 in a research note on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.68.

Western Digital Price Performance

Shares of Western Digital stock opened at $65.78 on Thursday. The stock has a market cap of $22.74 billion, a price-to-earnings ratio of 15.66 and a beta of 1.43. 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 stock has a 50 day moving average price of $65.70 and a 200-day moving average price of $65.62. Western Digital has a one year low of $52.77 and a one year high of $81.55.

Western Digital (NASDAQ:WDC) last posted 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 16.13% and a net margin of 9.95%. Equities analysts expect that Western Digital will post 5.37 EPS for the current year.

Insider Transactions at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 658 shares of Western Digital stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total value of $46,053.42. Following the transaction, the senior vice president now directly owns 28,863 shares of the company’s stock, valued at approximately $2,020,121.37. The trade was a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 1,347 shares of company stock valued at $93,027 in the last 90 days. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Western Digital

Several institutional investors have recently added to or reduced their stakes in WDC. Versant Capital Management Inc raised its stake in Western Digital by 278.9% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock worth $25,000 after acquiring an additional 304 shares during the last quarter. Eastern Bank acquired a new stake in shares of Western Digital during the third quarter worth about $27,000. Sierra Ocean LLC purchased a new stake in Western Digital in the fourth quarter valued at approximately $29,000. True Wealth Design LLC lifted its stake in 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 acquiring an additional 415 shares during the period. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Western Digital in the fourth quarter worth $30,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

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.