Western Digital (NASDAQ:WDC) Given New $75.00 Price Target at Susquehanna

Western Digital (NASDAQ:WDC) had its price objective decreased by Susquehanna from $88.00 to $75.00 in a research note released on Friday morning, Benzinga reports. Susquehanna currently has a neutral rating on the data storage provider’s stock.

A number of other research firms have also issued reports on WDC. Rosenblatt Securities reissued a buy rating and set a $115.00 target price on shares of Western Digital in a research note on Thursday, August 1st. StockNews.com raised Western Digital from a sell rating to a hold rating in a report on Saturday, July 6th. Bank of America boosted their price target on Western Digital from $75.00 to $85.00 and gave the stock a buy rating in a research report on Wednesday, April 17th. Wedbush raised their price target on Western Digital from $85.00 to $95.00 and gave the company an outperform rating in a report on Monday, July 22nd. Finally, Summit Insights downgraded shares of Western Digital from a buy rating to a hold rating in a report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $84.41.

Western Digital Price Performance

Shares of NASDAQ WDC opened at $56.99 on Friday. Western Digital has a 1-year low of $35.62 and a 1-year high of $81.55. The firm has a market capitalization of $18.61 billion, a PE ratio of -11.47 and a beta of 1.37. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.41 and a quick ratio of 1.07. The business’s fifty day moving average price is $74.33 and its two-hundred day moving average price is $68.29.

Insider Buying and Selling

In other Western Digital news, SVP Gene M. Zamiska sold 416 shares of Western Digital stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $71.88, for a total transaction of $29,902.08. Following the transaction, the senior vice president now owns 30,321 shares of the company’s stock, valued at approximately $2,179,473.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Robert Soderbery sold 26,853 shares of Western Digital stock in a transaction dated Tuesday, June 4th. The stock was 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Gene M. Zamiska sold 416 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $71.88, for a total value of $29,902.08. Following the completion of the transaction, the senior vice president now owns 30,321 shares in the company, valued at approximately $2,179,473.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,488 shares of company stock valued at $2,020,143. Corporate insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. John G Ullman & Associates Inc. raised its position in shares of Western Digital by 30.3% in the fourth quarter. John G Ullman & Associates Inc. now owns 103,750 shares of the data storage provider’s stock valued at $5,433,000 after purchasing an additional 24,100 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of Western Digital in the first quarter valued at about $1,242,000. Bessemer Group Inc. lifted its position in shares of Western Digital by 28.6% during the 1st quarter. Bessemer Group Inc. now owns 2,619 shares of the data storage provider’s stock worth $179,000 after purchasing an additional 583 shares during the last quarter. Atria Wealth Solutions Inc. boosted its stake in Western Digital by 2.9% during the 4th quarter. Atria Wealth Solutions Inc. now owns 14,113 shares of the data storage provider’s stock valued at $739,000 after purchasing an additional 404 shares during the period. Finally, AGF Management Ltd. bought a new position in Western Digital in the 4th quarter worth approximately $480,000. Institutional investors and hedge funds 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.