Gene M. Zamiska Sells 658 Shares of Western Digital Co. (NASDAQ:WDC) Stock

Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska sold 658 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total transaction of $46,053.42. Following the completion of the sale, the senior vice president now directly owns 28,863 shares of the company’s stock, valued at approximately $2,020,121.37. This represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Western Digital Stock Performance

Shares of WDC stock opened at $71.50 on Thursday. The company has a 50 day moving average price of $66.73 and a 200-day moving average price of $69.07. Western Digital Co. has a 52 week low of $46.42 and a 52 week high of $81.55. The firm has a market capitalization of $24.72 billion, a PE ratio of 42.06 and a beta of 1.40. The company has a quick ratio of 0.91, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, October 24th. The data storage provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.23. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The firm had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period in the previous year, the business posted ($1.97) earnings per share. The business’s revenue for the quarter was up 48.9% on a year-over-year basis. As a group, equities research analysts expect that Western Digital Co. will post 6.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WDC. Citigroup dropped their target price on shares of Western Digital from $95.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. The Goldman Sachs Group dropped their target price on shares of Western Digital from $79.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Susquehanna increased their price target on shares of Western Digital from $75.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Evercore ISI reiterated an “outperform” rating and issued a $85.00 price target on shares of Western Digital in a research note on Thursday, August 15th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $115.00 price target on shares of Western Digital in a research note on Friday, October 25th. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Western Digital presently has an average rating of “Moderate Buy” and an average price target of $87.71.

Institutional Trading of Western Digital

A number of large investors have recently made changes to their positions in WDC. Eastern Bank purchased a new position in shares of Western Digital in the third quarter worth approximately $27,000. Fairfield Financial Advisors LTD purchased a new position in shares of Western Digital in the second quarter worth approximately $29,000. True Wealth Design LLC boosted its holdings in shares of Western Digital by 2,184.2% in the third quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock worth $30,000 after buying an additional 415 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of Western Digital in the second quarter worth approximately $34,000. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Western Digital in the second quarter worth approximately $34,000. 92.51% of the stock is currently owned by institutional investors.

About Western Digital

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.