Recent Research Analysts’ Ratings Changes for Western Digital (WDC)

A number of firms have modified their ratings and price targets on shares of Western Digital (NASDAQ: WDC) recently:

  • 12/13/2017 – Western Digital had its “buy” rating reaffirmed by analysts at Evercore ISI. They now have a $130.00 price target on the stock.
  • 12/13/2017 – Western Digital had its price target raised by analysts at Morgan Stanley from $90.00 to $92.00. They now have an “equal weight” rating on the stock.
  • 12/13/2017 – Western Digital had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $130.00 price target on the stock.
  • 12/13/2017 – Western Digital had its “buy” rating reaffirmed by analysts at Citigroup Inc.. They now have a $115.00 price target on the stock.
  • 12/13/2017 – Western Digital had its “buy” rating reaffirmed by analysts at Cowen Inc.
  • 12/13/2017 – Western Digital was upgraded by analysts at Summit Redstone from a “hold” rating to a “buy” rating.
  • 12/13/2017 – Western Digital had its price target lowered by analysts at UBS AG to $88.00. They now have a “neutral” rating on the stock.
  • 12/13/2017 – Western Digital was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 12/7/2017 – Western Digital was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 11/28/2017 – Western Digital was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $95.09 price target on the stock.
  • 11/27/2017 – Western Digital was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $120.00 price target on the stock.
  • 11/21/2017 – Western Digital was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $95.09 price target on the stock.
  • 11/14/2017 – Western Digital is now covered by analysts at Wells Fargo & Company. They set an “outperform” rating and a $115.00 price target on the stock.
  • 11/13/2017 – Western Digital was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $97.62 price target on the stock.
  • 11/1/2017 – Western Digital was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $103.00 price target on the stock. According to Zacks, “Western Digital reported strong first-quarter fiscal 2018 results. Top-line growth benefited from robust demand in the company’s end markets as well as for flash-based storage products. Moreover, the ongoing transformation to 3D NAND technology also drove results. We note that the company is benefiting from strong demand for both hard drive and NAND-based products from all categories of customers, largely driven by cloud and mobility based applications. Moreover, the acquisitions of Upthere and Tegile Systems will help the company in expanding its presence with a wider range of products and solutions. However, the ongoing legal tussle with Toshiba regarding the memory unit in Japan remains a concern.”
  • 10/30/2017 – Western Digital was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $98.49 price target on the stock.
  • 10/27/2017 – Western Digital had its price target raised by analysts at UBS AG from $93.00 to $97.00. They now have a “neutral” rating on the stock.
  • 10/27/2017 – Western Digital had its price target raised by analysts at Barclays PLC from $131.00 to $133.00. They now have an “overweight” rating on the stock.
  • 10/27/2017 – Western Digital had its “buy” rating reaffirmed by analysts at Maxim Group. They now have a $124.00 price target on the stock.
  • 10/27/2017 – Western Digital had its price target raised by analysts at Citigroup Inc. from $110.00 to $115.00. They now have a “buy” rating on the stock.
  • 10/27/2017 – Western Digital had its “hold” rating reaffirmed by analysts at KeyCorp.
  • 10/24/2017 – Western Digital was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Western Digital provided weak first-quarter fiscal 2018 guidance that reflects weak PC shipment as well as intensifying competition in the hard-drive disk (HDD) market. Moreover, the ongoing legal tussle with Toshiba regarding the memory unit in Japan remains a concern. Notably, the shares have outperformed the industry on a year-to-date basis. We note that the company is benefiting from strong demand for both hard drive and NAND-based products from all categories of customers, largely driven by cloud and mobility based applications. Moreover, the acquisitions of Upthere and planned buyout of Tegile Systems will help the company in expanding its presence with a wider range of products and solutions. We believe that strong demand for NAND flash memory chips is a key catalyst for the company.”
  • 10/23/2017 – Western Digital was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $98.49 price target on the stock.

Western Digital Corporation (WDC) traded up $0.62 on Wednesday, hitting $84.24. 3,937,900 shares of the company traded hands, compared to its average volume of 4,167,318. Western Digital Corporation has a 52-week low of $67.61 and a 52-week high of $95.77. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.13 and a current ratio of 2.64. The firm has a market cap of $24,733.68, a P/E ratio of 8.40, a PEG ratio of 0.22 and a beta of 1.10.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Thursday, October 26th. The data storage provider reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.01 by $0.55. Western Digital had a net margin of 7.38% and a return on equity of 26.48%. The firm had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter in the prior year, the firm earned $1.18 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. sell-side analysts expect that Western Digital Corporation will post 12.21 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.00 annualized dividend and a dividend yield of 2.37%. Western Digital’s dividend payout ratio (DPR) is presently 41.75%.

In other Western Digital news, insider Michael D. Cordano sold 1,397 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $88.13, for a total value of $123,117.61. Following the completion of the sale, the insider now owns 70,556 shares in the company, valued at approximately $6,218,100.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen A. Cote sold 2,000 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $90.63, for a total transaction of $181,260.00. Following the completion of the sale, the director now owns 16,421 shares of the company’s stock, valued at approximately $1,488,235.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,638 shares of company stock valued at $1,281,914. Insiders own 0.31% of the company’s stock.

Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions).

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