Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska Sells 376 Shares

Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska sold 376 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $64.47, for a total transaction of $24,240.72. Following the sale, the senior vice president now owns 29,971 shares of the company’s stock, valued at $1,932,230.37. The trade was a 1.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Western Digital Stock Up 0.8 %

Shares of NASDAQ:WDC traded up $0.55 during trading on Friday, hitting $66.43. 5,155,713 shares of the company were exchanged, compared to its average volume of 6,037,099. The stock has a market cap of $22.97 billion, a price-to-earnings ratio of 39.08 and a beta of 1.40. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49. Western Digital Co. has a fifty-two week low of $46.05 and a fifty-two week high of $81.55. The firm has a fifty day moving average price of $66.48 and a two-hundred day moving average price of $69.12.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, October 24th. The data storage provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.23. The firm 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 company’s quarterly revenue was up 48.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.97) earnings per share. As a group, research analysts anticipate that Western Digital Co. will post 6.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Western Digital

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Eastern Bank acquired a new position in shares of Western Digital during the 3rd quarter worth approximately $27,000. Fairfield Financial Advisors LTD acquired a new position in shares of Western Digital in the second quarter valued at $29,000. True Wealth Design LLC raised its position in shares of Western Digital by 2,184.2% in the third quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock valued at $30,000 after purchasing an additional 415 shares during the period. OFI Invest Asset Management acquired a new stake in shares of Western Digital during the 2nd quarter worth about $34,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Western Digital during the 2nd quarter worth about $34,000. Institutional investors own 92.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. UBS Group cut their target price on Western Digital from $74.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Rosenblatt Securities reaffirmed a “buy” rating and set a $115.00 price objective on shares of Western Digital in a research note on Friday, October 25th. TD Cowen reduced 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. Barclays increased their price target on Western Digital from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Citigroup decreased their price objective on Western Digital from $95.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $87.71.

Western Digital Company Profile

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.