Western Digital Co. (NASDAQ:WDC) SVP Sells $22,733.19 in Stock

Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska sold 313 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $72.63, for a total transaction of $22,733.19. Following the transaction, the senior vice president now owns 28,383 shares in the company, valued at $2,061,457.29. This represents a 1.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Western Digital Stock Performance

NASDAQ WDC opened at $72.34 on Thursday. The stock has a market cap of $25.01 billion, a P/E ratio of 42.55 and a beta of 1.42. Western Digital Co. has a twelve month low of $46.47 and a twelve month high of $81.55. The company has a quick ratio of 0.91, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The company’s 50-day simple moving average is $67.35 and its 200 day simple moving average is $69.03.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Thursday, October 24th. The data storage provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.23. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.12 billion. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The company’s revenue for the quarter was up 48.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.97) earnings per share. As a group, research 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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Western Digital by 3.2% during the third quarter. State Street Corp now owns 13,572,686 shares of the data storage provider’s stock worth $926,879,000 after purchasing an additional 423,651 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Western Digital by 1.0% during the third quarter. Geode Capital Management LLC now owns 7,921,608 shares of the data storage provider’s stock worth $539,355,000 after purchasing an additional 76,781 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Western Digital by 24.6% during the third 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 worth $253,453,000 after purchasing an additional 732,344 shares in the last quarter. Maple Rock Capital Partners Inc. lifted its position in shares of Western Digital by 13.2% during the third quarter. Maple Rock Capital Partners Inc. now owns 3,287,400 shares of the data storage provider’s stock worth $224,497,000 after purchasing an additional 383,390 shares in the last quarter. Finally, Holocene Advisors LP lifted its position in shares of Western Digital by 25.7% during the third quarter. Holocene Advisors LP now owns 3,192,762 shares of the data storage provider’s stock worth $218,034,000 after purchasing an additional 651,847 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $95.00 target price on shares of Western Digital in a report on Tuesday, November 26th. UBS Group dropped their target price on shares of Western Digital from $74.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Benchmark reiterated a “buy” rating and issued a $92.00 target price on shares of Western Digital in a report on Friday, October 25th. The Goldman Sachs Group dropped their target price on shares of Western Digital from $79.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Finally, Morgan Stanley lifted their target price on shares of Western Digital from $94.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. 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, Western Digital presently has an average rating of “Moderate Buy” and a consensus price target of $87.71.

Western Digital Company Profile

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.