Shares of Western Digital Corp (NASDAQ:WDC) have earned a consensus rating of “Buy” from the thirty-eight analysts that are presently covering the stock, Marketbeat.com reports. Thirteen investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $110.78.

WDC has been the subject of several recent research reports. UBS Group lowered their target price on shares of Western Digital from $101.00 to $93.00 and set a “neutral” rating for the company in a report on Thursday, October 12th. Vetr lowered shares of Western Digital from a “strong-buy” rating to a “buy” rating and set a $97.62 target price for the company. in a report on Monday, November 13th. BMO Capital Markets lowered shares of Western Digital from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $120.00 to $90.00 in a report on Thursday, January 4th. Maxim Group reiterated a “buy” rating and set a $124.00 target price on shares of Western Digital in a report on Friday, October 27th. Finally, BidaskClub lowered shares of Western Digital from a “hold” rating to a “sell” rating in a report on Thursday, December 7th.

Shares of Western Digital (NASDAQ WDC) traded down $3.62 on Friday, reaching $80.09. 3,787,105 shares of the company’s stock traded hands, compared to its average volume of 4,470,000. The company has a quick ratio of 2.03, a current ratio of 2.55 and a debt-to-equity ratio of 1.04. Western Digital has a twelve month low of $71.38 and a twelve month high of $95.77. The stock has a market capitalization of $23,640.00, a price-to-earnings ratio of 66.19, a PEG ratio of 0.35 and a beta of 1.13.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, January 25th. The data storage provider reported $3.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.51 by $0.44. Western Digital had a net margin of 1.93% and a return on equity of 30.78%. The business had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same period last year, the business posted $2.30 earnings per share. Western Digital’s quarterly revenue was up 9.2% compared to the same quarter last year. analysts anticipate that Western Digital will post 12.62 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, March 29th. Western Digital’s dividend payout ratio (DPR) is currently 165.29%.

Western Digital announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 9th that permits the company to buyback $2.10 billion in shares. This buyback authorization permits the data storage provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

In other Western Digital news, CFO Mark P. Long sold 4,467 shares of Western Digital stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $88.13, for a total value of $393,676.71. Following the completion of the sale, the chief financial officer now owns 88,384 shares of the company’s stock, valued at approximately $7,789,281.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael D. Cordano sold 1,397 shares of Western Digital stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $88.13, for a total transaction of $123,117.61. Following the completion of the sale, the insider now directly owns 70,556 shares of the company’s stock, valued at approximately $6,218,100.28. The disclosure for this sale can be found here. Insiders have sold 158,393 shares of company stock valued at $13,801,887 in the last three months. 0.31% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of the business. Swiss National Bank boosted its stake in shares of Western Digital by 2.1% during the 3rd quarter. Swiss National Bank now owns 1,073,763 shares of the data storage provider’s stock worth $92,773,000 after acquiring an additional 21,900 shares during the last quarter. MHI Funds LLC purchased a new position in shares of Western Digital during the 4th quarter worth $1,514,000. QUANTRES ASSET MANAGEMENT Ltd boosted its stake in shares of Western Digital by 102.3% during the 4th quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 8,900 shares of the data storage provider’s stock worth $708,000 after acquiring an additional 4,500 shares during the last quarter. 1st Global Advisors Inc. purchased a new position in shares of Western Digital during the 2nd quarter worth $1,148,000. Finally, Iridian Asset Management LLC CT boosted its stake in shares of Western Digital by 4.9% during the 3rd quarter. Iridian Asset Management LLC CT now owns 5,920,657 shares of the data storage provider’s stock worth $511,545,000 after acquiring an additional 278,951 shares during the last quarter. 84.52% of the stock is owned by institutional investors and hedge funds.

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Western Digital Company Profile

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).

Analyst Recommendations for Western Digital (NASDAQ:WDC)

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