Western Digital Co. (NASDAQ:WDC) SVP Sells $68,616.24 in Stock

Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska sold 1,659 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $41.36, for a total value of $68,616.24. Following the completion of the transaction, the senior vice president now directly owns 43,776 shares in the company, valued at approximately $1,810,575.36. The trade was a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Western Digital Price Performance

Shares of NASDAQ:WDC opened at $42.96 on Thursday. The business has a 50 day moving average price of $60.58 and a 200 day moving average price of $64.06. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. Western Digital Co. has a twelve month low of $39.42 and a twelve month high of $61.16. The company has a market cap of $14.94 billion, a price-to-earnings ratio of 10.23 and a beta of 1.42.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. Research analysts predict that Western Digital Co. will post 4.89 earnings per share for the current year.

Institutional Trading of Western Digital

Hedge funds have recently modified their holdings of the company. Versant Capital Management Inc lifted its position in shares of Western Digital by 278.9% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock worth $25,000 after acquiring an additional 304 shares during the period. Sierra Ocean LLC acquired a new position in shares of Western Digital in the 4th quarter worth approximately $29,000. True Wealth Design LLC raised its holdings in shares of Western Digital by 2,184.2% in the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock worth $30,000 after buying an additional 415 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Western Digital in the 4th quarter worth approximately $30,000. Finally, OFI Invest Asset Management acquired a new position in shares of Western Digital in the 4th quarter worth approximately $36,000. Institutional investors own 92.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WDC. The Goldman Sachs Group upped their target price on Western Digital from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. UBS Group upped their price target on Western Digital from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Susquehanna decreased their price target on Western Digital from $83.00 to $72.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Morgan Stanley decreased their price target on Western Digital from $100.00 to $93.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Wells Fargo & Company decreased their price target on Western Digital from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $81.47.

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.