Western Digital (NASDAQ:WDC) Given Buy Rating at Rosenblatt Securities

Western Digital (NASDAQ:WDC)‘s stock had its “buy” rating reiterated by Rosenblatt Securities in a research report issued on Thursday, Benzinga reports. They currently have a $115.00 price objective on the data storage provider’s stock. Rosenblatt Securities’ target price suggests a potential upside of 71.51% from the company’s previous close.

Several other brokerages also recently commented on WDC. StockNews.com raised shares of Western Digital from a “sell” rating to a “hold” rating in a research note on Saturday, July 6th. Argus raised their price target on shares of Western Digital from $68.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 price target on shares of Western Digital in a research note on Tuesday, June 11th. Evercore ISI raised their price target on shares of Western Digital from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Finally, Robert W. Baird raised their price target on shares of Western Digital from $65.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, Western Digital currently has an average rating of “Moderate Buy” and a consensus target price of $82.96.

Western Digital Stock Performance

NASDAQ WDC opened at $67.05 on Thursday. The firm has a market capitalization of $21.89 billion, a price-to-earnings ratio of -13.49 and a beta of 1.37. The company has a current ratio of 1.86, a quick ratio of 1.07 and a debt-to-equity ratio of 0.72. The firm’s 50 day simple moving average is $75.31 and its 200 day simple moving average is $68.04. Western Digital has a 1 year low of $35.62 and a 1 year high of $81.55.

Insiders Place Their Bets

In other Western Digital news, SVP Gene M. Zamiska sold 416 shares of Western Digital stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $71.88, for a total value of $29,902.08. Following the sale, the senior vice president now owns 30,321 shares of the company’s stock, valued at $2,179,473.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Gene M. Zamiska sold 416 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $71.88, for a total value of $29,902.08. Following the sale, the senior vice president now owns 30,321 shares of the company’s stock, valued at $2,179,473.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Robert Soderbery sold 26,853 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $73.48, for a total transaction of $1,973,158.44. Following the completion of the sale, the executive vice president now directly owns 144,623 shares in the company, valued at approximately $10,626,898.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,488 shares of company stock valued at $2,020,143. Company insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On Western Digital

Several hedge funds have recently bought and sold shares of the company. Rise Advisors LLC bought a new position in shares of Western Digital in the 1st quarter worth $25,000. Naples Money Management LLC bought a new position in shares of Western Digital during the 4th quarter valued at $26,000. Fidelis Capital Partners LLC bought a new position in shares of Western Digital during the 1st quarter valued at $30,000. SOA Wealth Advisors LLC. bought a new position in shares of Western Digital during the 1st quarter valued at $31,000. Finally, Lindbrook Capital LLC grew its holdings in shares of Western Digital by 121.7% during the 4th 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 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.