Western Digital Co. (NASDAQ:WDC) SVP Sells $24,240.72 in Stock

Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska sold 376 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $64.47, for a total transaction of $24,240.72. Following the sale, the senior vice president now owns 29,971 shares of the company’s stock, valued at $1,932,230.37. This trade represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Western Digital Price Performance

Shares of WDC traded up $0.55 during trading hours on Friday, hitting $66.43. The stock had a trading volume of 5,155,713 shares, compared to its average volume of 6,037,099. Western Digital Co. has a 52 week low of $46.05 and a 52 week high of $81.55. The stock has a market capitalization of $22.97 billion, a price-to-earnings ratio of 39.08 and a beta of 1.40. The company’s fifty day moving average is $66.48 and its two-hundred day moving average is $69.12. 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 posted its earnings results on Thursday, October 24th. The data storage provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.23. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. Western Digital’s quarterly revenue was up 48.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.97) earnings per share. On average, analysts anticipate that Western Digital Co. will post 6.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on WDC shares. TD Cowen lowered their target price on Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Benchmark reaffirmed a “buy” rating and set a $92.00 target price on shares of Western Digital in a research report on Friday, October 25th. Rosenblatt Securities reiterated a “buy” rating and set a $115.00 target price on shares of Western Digital in a research note on Friday, October 25th. Evercore ISI restated an “outperform” rating and issued a $85.00 price target on shares of Western Digital in a research report on Thursday, August 15th. Finally, Summit Insights lowered shares of Western Digital from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $87.71.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WDC. First Horizon Advisors Inc. raised its stake in shares of Western Digital by 5.4% in the third quarter. First Horizon Advisors Inc. now owns 2,929 shares of the data storage provider’s stock worth $200,000 after acquiring an additional 149 shares during the last quarter. Quarry LP increased its holdings in shares of Western Digital by 22.6% in the third quarter. Quarry LP now owns 932 shares of the data storage provider’s stock valued at $64,000 after purchasing an additional 172 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Western Digital by 1.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 15,962 shares of the data storage provider’s stock worth $1,209,000 after purchasing an additional 203 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Western Digital by 15.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,527 shares of the data storage provider’s stock worth $116,000 after buying an additional 206 shares in the last quarter. Finally, Mather Group LLC. boosted its position in Western Digital by 10.7% in the 2nd quarter. Mather Group LLC. now owns 2,203 shares of the data storage provider’s stock valued at $167,000 after buying an additional 213 shares during the last quarter. Institutional investors and hedge funds 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.