Western Digital (WDC) Upgraded at BidaskClub

BidaskClub upgraded shares of Western Digital (NASDAQ:WDC) from a buy rating to a strong-buy rating in a research note released on Saturday.

Other research analysts also recently issued research reports about the company. UBS Group dropped their price objective on Western Digital to $88.00 and set a neutral rating on the stock in a report on Wednesday, December 13th. Vetr downgraded Western Digital from a strong-buy rating to a buy rating and set a $97.62 price objective on the stock. in a report on Monday, November 13th. BMO Capital Markets downgraded Western Digital from an outperform rating to a market perform rating and dropped their price objective for the company from $120.00 to $90.00 in a report on Thursday, January 4th. Benchmark reiterated a buy rating and issued a $130.00 price objective on shares of Western Digital in a report on Tuesday, December 26th. Finally, Mizuho reiterated a buy rating and issued a $110.00 price objective (up previously from $105.00) on shares of Western Digital in a report on Friday, February 2nd. Twelve equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have issued a strong buy rating to the company. Western Digital currently has an average rating of Buy and an average target price of $111.62.

How to Become a New Pot Stock Millionaire

Shares of Western Digital (NASDAQ:WDC) opened at $102.91 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.55 and a quick ratio of 2.03. The stock has a market capitalization of $30,620.00, a PE ratio of 15.78, a price-to-earnings-growth ratio of 0.41 and a beta of 1.11. Western Digital has a 12-month low of $71.38 and a 12-month high of $106.30.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, January 25th. The data storage provider reported $3.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.44. The company had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.31 billion. Western Digital had a return on equity of 30.78% and a net margin of 1.93%. Western Digital’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.30 EPS. equities research analysts expect that Western Digital will post 12.66 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.94%. Western Digital’s payout ratio is 30.67%.

In other news, insider Michael D. Cordano sold 1,401 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $85.00, for a total value of $119,085.00. Following the completion of the sale, the insider now directly owns 70,560 shares of the company’s stock, valued at approximately $5,997,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen D. Milligan sold 90,755 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $88.12, for a total value of $7,997,330.60. The disclosure for this sale can be found here. Insiders have sold a total of 261,105 shares of company stock valued at $23,899,380 over the last ninety days. 0.31% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cerebellum GP LLC acquired a new position in Western Digital during the fourth quarter worth $121,000. Acadian Asset Management LLC acquired a new position in Western Digital during the fourth quarter worth $132,000. Focused Wealth Management Inc acquired a new position in Western Digital during the fourth quarter worth $143,000. SeaCrest Wealth Management LLC acquired a new position in Western Digital during the fourth quarter worth $149,000. Finally, Icon Wealth Partners LLC acquired a new position in Western Digital during the fourth quarter worth $171,000. 84.97% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: This story was first posted by Markets Daily and is the property of of Markets Daily. If you are accessing this story on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark law. The legal version of this story can be viewed at https://www.themarketsdaily.com/2018/03/14/western-digital-wdc-upgraded-at-bidaskclub.html.

Western Digital Company Profile

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).

Analyst Recommendations for Western Digital (NASDAQ:WDC)

Receive News & Ratings for Western Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Digital and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply