Western Digital Co. (NASDAQ:WDC) SVP Sells $46,053.42 in Stock

Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska sold 658 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total transaction of $46,053.42. Following the sale, the senior vice president now owns 28,863 shares in the company, 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 document filed with the SEC, which is accessible through this link.

Western Digital Price Performance

NASDAQ:WDC opened at $73.02 on Wednesday. Western Digital Co. has a one year low of $46.28 and a one year high of $81.55. The company has a market cap of $25.24 billion, a P/E ratio of 42.95 and a beta of 1.40. The firm’s fifty day moving average price is $66.58 and its two-hundred day moving average price is $69.06. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.91.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Thursday, October 24th. The data storage provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.23. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.12 billion. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The business’s revenue for the quarter was up 48.9% on a year-over-year basis. During the same period in the prior year, the company posted ($1.97) earnings per share. Equities analysts expect that Western Digital Co. will post 6.56 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have commented on WDC. Benchmark restated a “buy” rating and set a $92.00 target price on shares of Western Digital in a report on Friday, October 25th. Summit Insights downgraded shares of Western Digital from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. The Goldman Sachs Group lowered their price objective 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. Evercore ISI reiterated an “outperform” rating and issued a $85.00 price objective on shares of Western Digital in a report on Thursday, August 15th. Finally, BNP Paribas lowered their price objective on shares of Western Digital from $95.00 to $90.00 in a report on Thursday, October 24th. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $87.71.

Institutional Investors Weigh In On Western Digital

A number of large investors have recently bought and sold shares of the company. Bessemer Group Inc. lifted its holdings in shares of Western Digital by 28.6% in the first quarter. Bessemer Group Inc. now owns 2,619 shares of the data storage provider’s stock worth $179,000 after acquiring an additional 583 shares during the last quarter. Aigen Investment Management LP lifted its holdings in shares of Western Digital by 124.2% in the third quarter. Aigen Investment Management LP now owns 21,412 shares of the data storage provider’s stock worth $1,462,000 after acquiring an additional 11,860 shares during the last quarter. KBC Group NV raised its holdings in Western Digital by 11.2% in the 3rd quarter. KBC Group NV now owns 277,010 shares of the data storage provider’s stock valued at $18,917,000 after buying an additional 27,849 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Western Digital by 137.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 43,575 shares of the data storage provider’s stock valued at $2,976,000 after buying an additional 25,262 shares during the last quarter. Finally, Ghisallo Capital Management LLC bought a new position in Western Digital in the 2nd quarter valued at approximately $13,260,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

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.