Western Digital (NASDAQ:WDC) Given New $76.00 Price Target at The Goldman Sachs Group

Western Digital (NASDAQ:WDC) had its price target upped by The Goldman Sachs Group from $58.00 to $76.00 in a research report report published on Friday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the data storage provider’s stock.

Other equities research analysts have also recently issued reports about the stock. TD Cowen boosted their price objective on shares of Western Digital from $50.00 to $75.00 and gave the company an outperform rating in a research report on Friday, January 26th. Evercore ISI initiated coverage on shares of Western Digital in a research note on Wednesday, March 27th. They set an outperform rating and a $80.00 price objective on the stock. Raymond James increased their price target on shares of Western Digital from $60.00 to $65.00 and gave the company an outperform rating in a research report on Friday, January 26th. StockNews.com lowered Western Digital from a hold rating to a sell rating in a report on Tuesday, February 20th. Finally, Susquehanna lifted their target price on shares of Western Digital from $68.00 to $83.00 and gave the stock a neutral rating in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Western Digital currently has an average rating of Moderate Buy and a consensus price target of $70.61.

Western Digital Stock Performance

Shares of NASDAQ WDC opened at $70.43 on Friday. The stock has a market cap of $22.95 billion, a PE ratio of -9.88 and a beta of 1.56. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.67 and a quick ratio of 0.98. The firm has a fifty day moving average price of $62.80 and a 200-day moving average price of $53.59. Western Digital has a 1 year low of $31.97 and a 1 year high of $76.92.

Western Digital (NASDAQ:WDC) last announced its earnings results on Monday, January 29th. The data storage provider reported ($0.69) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.30) by $0.61. Western Digital had a negative net margin of 19.90% and a negative return on equity of 19.45%. The firm had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same period in the prior year, the company earned ($0.69) EPS. The business’s revenue was down 2.4% compared to the same quarter last year. Equities analysts anticipate that Western Digital will post -2.31 earnings per share for the current fiscal year.

Insider Transactions at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 443 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $75.00, for a total transaction of $33,225.00. Following the completion of the sale, the senior vice president now owns 30,958 shares of the company’s stock, valued at $2,321,850. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Gene M. Zamiska sold 443 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $75.00, for a total transaction of $33,225.00. Following the sale, the senior vice president now directly owns 30,958 shares of the company’s stock, valued at approximately $2,321,850. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kimberly Alexy sold 2,648 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.95, for a total value of $185,227.60. Following the transaction, the director now directly owns 20,509 shares of the company’s stock, valued at $1,434,604.55. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC lifted its stake in shares of Western Digital by 10.9% during the fourth quarter. Signaturefd LLC now owns 2,577 shares of the data storage provider’s stock valued at $135,000 after buying an additional 254 shares during the period. Czech National Bank lifted its holdings in shares of Western Digital by 0.5% during the 1st quarter. Czech National Bank now owns 57,050 shares of the data storage provider’s stock worth $3,893,000 after acquiring an additional 261 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of Western Digital by 79.1% in the third quarter. Parkside Financial Bank & Trust now owns 747 shares of the data storage provider’s stock worth $34,000 after acquiring an additional 330 shares during the last quarter. Lindbrook Capital LLC grew its holdings in Western Digital by 121.7% in the fourth quarter. Lindbrook Capital LLC now owns 614 shares of the data storage provider’s stock valued at $32,000 after purchasing an additional 337 shares during the period. Finally, Natixis Advisors L.P. increased its position in Western Digital by 0.9% during the third quarter. Natixis Advisors L.P. now owns 37,156 shares of the data storage provider’s stock worth $1,695,000 after purchasing an additional 338 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital Company Profile

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.