Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska Sells 658 Shares

Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska sold 658 shares of the company’s 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 completion of the transaction, the senior vice president now directly owns 28,863 shares in the company, 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 this hyperlink.

Western Digital Stock Up 5.2 %

WDC stock traded up $3.59 during mid-day trading on Tuesday, reaching $73.02. The company had a trading volume of 10,709,675 shares, compared to its average volume of 6,069,648. The firm has a fifty day simple moving average of $66.58 and a 200 day simple moving average of $69.06. 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 market capitalization of $25.24 billion, a price-to-earnings ratio of 42.95 and a beta of 1.40. Western Digital Co. has a fifty-two week low of $46.28 and a fifty-two week high of $81.55.

Western Digital (NASDAQ:WDC) last issued its earnings results on Thursday, October 24th. The data storage provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.23. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter last year, the company earned ($1.97) earnings per share. The firm’s revenue was up 48.9% compared to the same quarter last year. Analysts forecast that Western Digital Co. will post 6.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Western Digital

Hedge funds have recently added to or reduced their stakes in the stock. Eastern Bank acquired a new stake in Western Digital during the 3rd quarter worth $27,000. Fairfield Financial Advisors LTD acquired a new stake in shares of Western Digital during the second quarter worth about $29,000. True Wealth Design LLC lifted its holdings in shares of Western Digital by 2,184.2% in the 3rd 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 last quarter. OFI Invest Asset Management acquired a new stake in shares of Western Digital in the 2nd quarter valued at about $34,000. Finally, 1620 Investment Advisors Inc. acquired a new position in Western Digital during the second quarter worth approximately $34,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Susquehanna increased their price objective on Western Digital from $75.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, October 25th. TD Cowen lowered their price target on shares of Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, September 13th. The Goldman Sachs Group lowered their price objective on Western Digital from $79.00 to $72.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Barclays upped 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 shares of Western Digital from $95.00 to $85.00 and set a “buy” rating on the stock in a 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.71.

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.