Susquehanna Cuts Western Digital (NASDAQ:WDC) Price Target to $72.00

Western Digital (NASDAQ:WDCFree Report) had its price objective decreased by Susquehanna from $83.00 to $72.00 in a research note issued to investors on Thursday,Benzinga reports. Susquehanna currently has a neutral rating on the data storage provider’s stock.

A number of other equities analysts have also recently issued reports on WDC. The Goldman Sachs Group cut their target price on Western Digital from $81.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. UBS Group cut their price target on Western Digital from $74.00 to $72.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. BNP Paribas lowered their price objective on Western Digital from $95.00 to $90.00 in a research note on Thursday, October 24th. Bank of America cut their target price on Western Digital from $89.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Rosenblatt Securities cut their price objective on shares of Western Digital from $115.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.68.

View Our Latest Stock Analysis on Western Digital

Western Digital Stock Performance

Shares of WDC stock opened at $65.78 on Thursday. The firm has a 50 day moving average of $65.70 and a 200-day moving average of $65.62. The company has a market cap of $22.74 billion, a price-to-earnings ratio of 15.66 and a beta of 1.43. The company has a quick ratio of 0.91, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. Western Digital has a 52 week low of $52.77 and a 52 week high of $81.55.

Western Digital (NASDAQ:WDCGet Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a net margin of 9.95% and a return on equity of 16.13%. On average, equities analysts forecast that Western Digital will post 5.37 earnings per share for the current year.

Insider Activity

In related news, 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 transaction, the senior vice president now directly owns 28,863 shares in the company, valued at $2,020,121.37. This trade represents a 2.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 1,347 shares of company stock worth $93,027. 0.30% of the stock is currently owned by insiders.

Institutional Trading of Western Digital

Large investors have recently modified their holdings of the business. Eastern Bank purchased a new position in shares of Western Digital during the 3rd quarter worth approximately $27,000. Versant Capital Management Inc grew its stake in Western Digital by 278.9% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock worth $25,000 after purchasing an additional 304 shares during the period. True Wealth Design LLC grew its stake in Western Digital by 2,184.2% in the third quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock worth $30,000 after purchasing an additional 415 shares during the period. Sierra Ocean LLC bought a new position in Western Digital in the fourth quarter worth $29,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in Western Digital during the fourth quarter valued at $30,000. 92.51% of the stock is owned by institutional investors.

Western Digital Company Profile

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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.

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