Western Digital Corporation (WDC) Earning Somewhat Favorable Media Coverage, Analysis Shows

Headlines about Western Digital Corporation (NASDAQ:WDC) have been trending somewhat positive recently, Accern Sentiment reports. The research firm identifies positive and negative media coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Western Digital Corporation earned a media sentiment score of 0.21 on Accern’s scale. Accern also gave media headlines about the data storage provider an impact score of 45.3778659241485 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near future.

Here are some of the media stories that may have effected Accern Sentiment’s rankings:

A number of equities analysts have weighed in on WDC shares. Evercore ISI started coverage on Western Digital Corporation in a research report on Friday, June 16th. They set an “outperform” rating and a $130.00 price target on the stock. Vetr raised Western Digital Corporation from a “buy” rating to a “strong-buy” rating and set a $100.46 price target on the stock in a research report on Monday, June 19th. Maxim Group reissued a “buy” rating and set a $108.00 price target on shares of Western Digital Corporation in a research report on Wednesday, June 21st. Stifel Nicolaus reissued a “buy” rating and set a $120.00 price target on shares of Western Digital Corporation in a research report on Wednesday, June 21st. Finally, Mizuho reissued a “buy” rating and set a $105.00 price target on shares of Western Digital Corporation in a research report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $111.35.

Western Digital Corporation (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, July 27th. The data storage provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.51 by $0.42. The firm had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.82 billion. Western Digital Corporation had a net margin of 2.08% and a return on equity of 21.23%. The company’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.79 earnings per share.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Thursday, September 28th. Western Digital Corporation’s dividend payout ratio (DPR) is 156.25%.

In other news, CFO Mark P. Long sold 17,028 shares of the company’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $93.84, for a total transaction of $1,597,907.52. Following the completion of the transaction, the chief financial officer now directly owns 53,551 shares of the company’s stock, valued at $5,025,225.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark P. Long sold 28,585 shares of the company’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $94.24, for a total transaction of $2,693,850.40. Following the transaction, the insider now directly owns 53,551 shares of the company’s stock, valued at $5,046,646.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 128,246 shares of company stock valued at $11,323,928. Insiders own 0.31% of the company’s stock.

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About Western Digital Corporation

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).

Insider Buying and Selling by Quarter for Western Digital Corporation (NASDAQ:WDC)

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