Western Digital (NASDAQ: WDC) Receives New Price Target of $ 80.00 at Deutsche Bank Aktiengesellschaft
Western Digital (NASDAQ: WDC) lowered its price target by Deutsche Bank Aktiengesellschaft from $ 65.00 to $ 80.00 in a report released on Monday, Fly reports. The brokerage currently has a “buy” rating on the stock of the data storage provider. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential rise of 17.53% from the current share price.
A number of other stock analysts have also recently published reports on WDC. Stifel Nicolaus raised his price target on Western Digital shares from $ 54.00 to $ 64.00 and gave the company a “buy” rating in a report on Thursday, January 7. The Goldman Sachs group upgraded Western Digital’s shares from a “neutral” to a “buy” rating and raised the target share price from $ 56.00 to $ 85.00 in a report. research Thursday. Wells Fargo & Company raised its price target for Western Digital shares from $ 55.00 to $ 65.00 and gave the stock an “overweight” rating in a research report on Thursday, December 17. Susquehanna raised its price target on Western Digital shares from $ 85.00 to $ 100.00 and gave the company a “positive” rating in a research note on Wednesday, February 24. Finally, Cowen raised his price target for Western Digital shares from $ 62.00 to $ 65.00 and rated the stock as “outperforming” in a research note on Friday, January 29. Six analysts rated the stock with a sustaining rating and twenty gave the company’s stock a buy rating. The stock currently has an average rating of “Buy” and an average target price of $ 66.67.
WDC shares opened at $ 68.07 on Monday. Western Digital has a 52 week low of $ 27.40 and a 52 week high of $ 72.98. The company’s 50-day mobile average price is $ 60.57, and its 200-day mobile average price is $ 47.17. The company has a quick ratio of 1.36, a current ratio of 2.05, and a debt ratio of 0.97. The company has a market cap of $ 20.84 billion, a P / E ratio of -80.08 and a beta of 1.49.
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Western Digital (NASDAQ: WDC) last released its results on Wednesday, January 27. The data storage provider reported earnings per share (EPS) of $ 0.69 for the quarter, beating the consensus estimate of $ 0.54 by $ 0.15. Western Digital had a negative net margin of 1.49% and a positive return on equity of 6.72%. The company posted revenue of $ 3.94 billion in the quarter, compared to analysts’ expectations of $ 3.89 billion. In the same quarter of the previous year, the company posted EPS of $ 0.62. The company’s revenue for the quarter decreased 6.9% year over year. Research analysts predict that Western Digital will post 1.69 earnings per share for the current year.
Meanwhile, Executive Vice President Michael Charles Ray sold 22,735 shares in a transaction that took place on Friday, January 29. The stock was sold at an average price of $ 59.92, for a total value of $ 1,362,281.20. The transaction was disclosed in a legal deposit with the Securities & Exchange Commission, available through this link. 0.12% of the stock is currently held by corporate insiders.
Several hedge funds and other institutional investors have recently changed their holdings of equities. Amalgamated Bank increased its stake in Western Digital by 1.0% during the fourth quarter. Amalgamated Bank now owns 17,233 shares of the data storage provider valued at $ 955,000 after acquiring 172 additional shares in the last quarter. Corient Capital Partners LLC increased its stake in Western Digital shares by 3.2% in the fourth quarter. Corient Capital Partners LLC now owns 7,171 shares of the data storage provider valued at $ 397,000 after purchasing an additional 219 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Western Digital shares by 0.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd. now owns 27,067 shares of the data storage provider’s stock valued at $ 1,499,000 after purchasing an additional 246 shares in the last quarter. Level Four Advisory Services LLC increased its stake in Western Digital shares by 2.9% in the fourth quarter. Level Four Advisory Services LLC now owns 12,605 shares of the data storage provider valued at $ 698,000 after purchasing an additional 360 shares in the last quarter. Finally, the OPSEU pension trust fund increased its stake in Western Digital shares by 1.7% in the third quarter. The OPSEU pension plan trust fund now owns 23,999 shares of the data storage provider valued at $ 869,000 after purchasing an additional 393 shares in the last quarter. Institutional investors and hedge funds hold 78.49% of the company’s shares.
About Western Digital
Western Digital Corporation develops, manufactures and sells data storage devices and solutions. It offers client devices, including hard drives (HDD) and solid-state drives (SSD) for computing devices, such as desktop and laptop personal computers (PCs), intelligent video systems, game consoles and computers. decoders; Flash-based on-board storage products for mobile phones, tablets, laptops and other portable and portable devices, as well as for automotive, Internet of Things, industrial and connected home applications; flash memory chips; and on-board storage solutions and flash products.
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