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 business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $64.47, for a total value of $24,240.72. Following the transaction, the senior vice president now directly owns 29,971 shares in the company, valued at approximately $1,932,230.37. This represents a 1.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Western Digital Price Performance

Shares of WDC stock opened at $66.43 on Monday. Western Digital Co. has a twelve month low of $46.05 and a twelve month high of $81.55. The stock has a market capitalization of $22.97 billion, a price-to-earnings ratio of 39.08 and a beta of 1.40. The stock has a fifty day simple moving average of $66.48 and a two-hundred day simple moving average of $69.08. 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 (NASDAQ:WDC) last issued its earnings results on Thursday, October 24th. The data storage provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.23. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Western Digital had a return on equity of 8.57% and a net margin of 4.81%. The business’s revenue for the quarter was up 48.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.97) EPS. On average, analysts predict that Western Digital Co. will post 6.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group cut their target price 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. 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 report on Thursday, October 24th. Cantor Fitzgerald boosted their target price on Western Digital from $80.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Benchmark reissued a “buy” rating and set a $92.00 target price on shares of Western Digital in a research report on Friday, October 25th. Finally, Barclays upped their price objective on Western Digital from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $87.71.

Institutional Investors Weigh In On Western Digital

A number of hedge funds have recently made changes to their positions in the stock. First Horizon Advisors Inc. lifted its stake in shares of Western Digital by 5.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 2,929 shares of the data storage provider’s stock worth $200,000 after purchasing an additional 149 shares during the last quarter. Quarry LP lifted its stake in shares of Western Digital by 22.6% during the 3rd quarter. Quarry LP now owns 932 shares of the data storage provider’s stock worth $64,000 after purchasing an additional 172 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Western Digital by 1.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 15,962 shares of the data storage provider’s stock worth $1,209,000 after purchasing an additional 203 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in shares of Western Digital by 15.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,527 shares of the data storage provider’s stock worth $116,000 after purchasing an additional 206 shares during the last quarter. Finally, Mather Group LLC. lifted its stake in shares of Western Digital by 10.7% during the 2nd quarter. Mather Group LLC. now owns 2,203 shares of the data storage provider’s stock worth $167,000 after purchasing an additional 213 shares during the last quarter. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

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.