Western Digital (NASDAQ:WDC) Price Target Lowered to $72.00 at Susquehanna

Western Digital (NASDAQ:WDC) had its price objective reduced by Susquehanna from $83.00 to $72.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a neutral rating on the data storage provider’s stock.

Other research analysts have also recently issued reports about the company. BNP Paribas cut their price target on Western Digital from $95.00 to $90.00 in a report on Thursday, October 24th. Bank of America reduced their price objective on shares of Western Digital from $89.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Citigroup cut their target price on Western Digital from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, December 3rd. Barclays lowered their price target on Western Digital from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, The Goldman Sachs Group lowered their target price on shares of Western Digital from $81.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.68.

Western Digital Stock Performance

NASDAQ:WDC opened at $65.78 on Thursday. The firm has a market capitalization of $22.74 billion, a PE ratio of 15.66 and a beta of 1.43. The company has a quick ratio of 0.91, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. Western Digital has a 12-month low of $52.77 and a 12-month high of $81.55. The firm has a 50-day moving average price of $65.70 and a 200 day moving average price of $65.62.

Western Digital (NASDAQ:WDC) last issued its earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.36). Western Digital had a return on equity of 16.13% and a net margin of 9.95%. Research analysts anticipate that Western Digital will post 5.37 earnings per share for the current fiscal year.

Insider Transactions at Western Digital

In related news, SVP Gene M. Zamiska sold 658 shares of Western Digital stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 28,863 shares of the company’s stock, valued at $2,020,121.37. This trade represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders have sold 1,347 shares of company stock valued at $93,027. 0.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp boosted its holdings in shares of Western Digital by 3.2% during the 3rd quarter. State Street Corp now owns 13,572,686 shares of the data storage provider’s stock valued at $926,879,000 after acquiring an additional 423,651 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Western Digital by 1.0% in the third quarter. Geode Capital Management LLC now owns 7,921,608 shares of the data storage provider’s stock valued at $539,355,000 after buying an additional 76,781 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Western Digital by 24.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,711,428 shares of the data storage provider’s stock valued at $253,453,000 after buying an additional 732,344 shares during the last quarter. Maple Rock Capital Partners Inc. grew its holdings in Western Digital by 13.2% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 3,287,400 shares of the data storage provider’s stock worth $224,497,000 after acquiring an additional 383,390 shares during the last quarter. Finally, Holocene Advisors LP increased its position in Western Digital by 25.7% in the 3rd quarter. Holocene Advisors LP now owns 3,192,762 shares of the data storage provider’s stock valued at $218,034,000 after acquiring an additional 651,847 shares during the period. Institutional investors own 92.51% of the company’s stock.

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.