Vetr upgraded shares of Western Digital Corporation (NASDAQ:WDC) from a buy rating to a strong-buy rating in a report published on Tuesday. The firm currently has $100.00 price target on the data storage provider’s stock.

A number of other brokerages also recently weighed in on WDC. Benchmark Co. reiterated a buy rating and issued a $135.00 price objective on shares of Western Digital Corporation in a research report on Wednesday, May 24th. Maxim Group restated a buy rating and set a $108.00 price target on shares of Western Digital Corporation in a research report on Wednesday, June 21st. Aegis restated a buy rating and set a $130.00 price target on shares of Western Digital Corporation in a research report on Monday, July 3rd. Stifel Nicolaus restated a buy rating on shares of Western Digital Corporation in a research report on Wednesday, May 24th. Finally, Jefferies Group LLC restated a hold rating and set a $90.00 price target on shares of Western Digital Corporation in a research report on Wednesday, June 28th. Eight research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $111.34.

Shares of Western Digital Corporation (WDC) opened at 88.52 on Tuesday. The stock has a market cap of $25.85 billion, a P/E ratio of 66.06 and a beta of 1.21. Western Digital Corporation has a 1-year low of $52.10 and a 1-year high of $95.77. The company has a 50 day moving average price of $85.86 and a 200 day moving average price of $86.09.

Western Digital Corporation (NASDAQ:WDC) last released its quarterly earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.51 by $0.42. Western Digital Corporation had a net margin of 2.08% and a return on equity of 21.23%. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the previous year, the company earned $0.79 earnings per share. The business’s revenue for the quarter was up 38.5% on a year-over-year basis. On average, equities analysts anticipate that Western Digital Corporation will post $12.50 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, September 28th. This represents a $2.00 annualized dividend and a yield of 2.26%. Western Digital Corporation’s dividend payout ratio is currently 156.25%.

In other news, CFO Mark P. Long sold 17,028 shares of Western Digital Corporation stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $93.84, for a total value of $1,597,907.52. Following the sale, the chief financial officer now owns 53,551 shares of the company’s stock, valued at $5,025,225.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Srinivasan Sivaram sold 16,049 shares of Western Digital Corporation stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $85.06, for a total transaction of $1,365,127.94. The disclosure for this sale can be found here. Insiders have sold a total of 134,891 shares of company stock worth $11,854,827 over the last three months. 0.46% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Accredited Investors Inc. boosted its holdings in shares of Western Digital Corporation by 0.4% in the second quarter. Accredited Investors Inc. now owns 2,713 shares of the data storage provider’s stock valued at $240,000 after acquiring an additional 11 shares in the last quarter. Cookson Peirce & Co. Inc. boosted its holdings in Western Digital Corporation by 0.6% during the second quarter. Cookson Peirce & Co. Inc. now owns 3,600 shares of the data storage provider’s stock worth $319,000 after buying an additional 20 shares in the last quarter. Honkamp Krueger Financial Services Inc. boosted its holdings in Western Digital Corporation by 0.5% during the second quarter. Honkamp Krueger Financial Services Inc. now owns 4,571 shares of the data storage provider’s stock worth $405,000 after buying an additional 25 shares in the last quarter. Barry Investment Advisors LLC boosted its holdings in Western Digital Corporation by 0.4% during the second quarter. Barry Investment Advisors LLC now owns 6,331 shares of the data storage provider’s stock worth $561,000 after buying an additional 26 shares in the last quarter. Finally, People s United Financial Inc. boosted its holdings in Western Digital Corporation by 0.3% during the second quarter. People s United Financial Inc. now owns 12,689 shares of the data storage provider’s stock worth $1,124,000 after buying an additional 41 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

About Western Digital Corporation

Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions).

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Western Digital Corporation (NASDAQ:WDC)

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