News coverage about Western Digital (NASDAQ:WDC) has trended somewhat positive this week, Accern Sentiment reports. The research group rates the sentiment of news coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Western Digital earned a news impact score of 0.19 on Accern’s scale. Accern also gave media coverage about the data storage provider an impact score of 47.564921690277 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
These are some of the news headlines that may have impacted Accern Sentiment’s rankings:
- Best Stocks to Buy Now That the Dow Has Cratered – TheStreet.com (thestreet.com)
- How Much Have Storage Stocks Such as Western Digital Fallen? (finance.yahoo.com)
- Western Digital Corp (WDC) CFO Mark P. Long Sells 4,466 Shares (americanbankingnews.com)
- Insider Selling: Western Digital Corp (WDC) EVP Sells 4,387 Shares of Stock (americanbankingnews.com)
- Stephen D. Milligan Sells 16,511 Shares of Western Digital Corp (WDC) Stock (americanbankingnews.com)
Several brokerages have recently weighed in on WDC. TheStreet lowered shares of Western Digital from a “b” rating to a “c+” rating in a report on Thursday, January 25th. Mizuho reiterated a “buy” rating and set a $110.00 price objective (up from $105.00) on shares of Western Digital in a report on Friday, February 2nd. UBS Group increased their price objective on shares of Western Digital from $88.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Zacks Investment Research lowered shares of Western Digital from a “buy” rating to a “hold” rating in a report on Monday. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of Western Digital in a report on Friday, December 22nd. Thirteen equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $111.78.
Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, January 25th. The data storage provider reported $3.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.44. The company had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.31 billion. Western Digital had a net margin of 1.93% and a return on equity of 30.78%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.30 earnings per share. sell-side analysts forecast that Western Digital will post 12.62 EPS for the current fiscal year.
Western Digital announced that its board has initiated a share repurchase plan on Thursday, November 9th that permits the company to buyback $2.10 billion in outstanding shares. This buyback authorization permits the data storage provider to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Friday, March 30th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, March 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.39%. Western Digital’s dividend payout ratio is currently 165.29%.
In other news, CEO Stephen D. Milligan sold 90,755 shares of Western Digital stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $88.12, for a total transaction of $7,997,330.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Stephen D. Milligan sold 16,511 shares of Western Digital stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $84.00, for a total transaction of $1,386,924.00. Following the sale, the chief executive officer now owns 156,882 shares in the company, valued at approximately $13,178,088. The disclosure for this sale can be found here. Insiders have sold 158,393 shares of company stock worth $13,801,887 in the last quarter. Insiders own 0.31% of the company’s stock.
About Western Digital
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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