Susquehanna reaffirmed their buy rating on shares of Western Digital Corp. (NASDAQ:WDC) in a research note published on Friday. Susquehanna currently has a $80.00 price target on the data storage provider’s stock.

Other equities research analysts also recently issued research reports about the stock. Brean Capital reaffirmed a buy rating on shares of Western Digital Corp. in a research report on Tuesday, June 28th. Royal Bank Of Canada reaffirmed a buy rating and issued a $56.00 target price on shares of Western Digital Corp. in a research report on Thursday, June 23rd. BTIG Research reaffirmed a buy rating and issued a $55.00 target price on shares of Western Digital Corp. in a research report on Friday, June 17th. Vetr raised shares of Western Digital Corp. from a hold rating to a buy rating and set a $49.62 target price for the company in a research report on Monday, June 13th. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $75.00 target price on shares of Western Digital Corp. in a research report on Tuesday, July 5th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. Western Digital Corp. has an average rating of Buy and an average target price of $64.32.

Shares of Western Digital Corp. (NASDAQ:WDC) traded up 0.673% during midday trading on Friday, hitting $59.065. The company had a trading volume of 1,795,087 shares. The firm has a market capitalization of $16.79 billion, a P/E ratio of 59.065 and a beta of 1.27. Western Digital Corp. has a 1-year low of $34.99 and a 1-year high of $86.39. The stock has a 50 day moving average price of $52.69 and a 200 day moving average price of $47.21.

Western Digital Corp. (NASDAQ:WDC) last posted its earnings results on Thursday, July 28th. The data storage provider reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.08. Western Digital Corp. had a net margin of 1.98% and a return on equity of 12.42%. The business earned $3.50 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter in the previous year, the firm posted $1.51 EPS. The firm’s revenue was up 9.5% on a year-over-year basis. On average, equities analysts anticipate that Western Digital Corp. will post $4.60 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.00 annualized dividend and a dividend yield of 3.38%. Western Digital Corp.’s dividend payout ratio is presently 158.73%.

In related news, insider Michael D. Cordano sold 7,185 shares of the company’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $54.50, for a total value of $391,582.50. Following the completion of the sale, the insider now owns 82,988 shares in the company, valued at approximately $4,522,846. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Charles Ray sold 2,719 shares of the company’s stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $58.63, for a total transaction of $159,414.97. Following the completion of the sale, the executive vice president now owns 51,843 shares of the company’s stock, valued at approximately $3,039,555.09. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in WDC. Canada Pension Plan Investment Board increased its stake in Western Digital Corp. by 164.5% in the first quarter. Canada Pension Plan Investment Board now owns 540,297 shares of the data storage provider’s stock valued at $25,524,000 after buying an additional 336,000 shares during the period. Menta Capital LLC increased its stake in Western Digital Corp. by 526.8% in the first quarter. Menta Capital LLC now owns 25,700 shares of the data storage provider’s stock valued at $1,214,000 after buying an additional 21,600 shares during the period. C M Bidwell & Associates Ltd. increased its stake in Western Digital Corp. by 18.3% in the first quarter. C M Bidwell & Associates Ltd. now owns 75,565 shares of the data storage provider’s stock valued at $3,570,000 after buying an additional 11,690 shares during the period. Blue Rock Advisors LLC acquired a new stake in Western Digital Corp. during the first quarter valued at approximately $134,000. Finally, Advisor Partners LLC increased its stake in Western Digital Corp. by 24.8% in the first quarter. Advisor Partners LLC now owns 4,912 shares of the data storage provider’s stock valued at $232,000 after buying an additional 976 shares during the period. Hedge funds and other institutional investors own 86.77% of the company’s stock.

Western Digital Corp. Company Profile

Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage solutions that enable consumers, businesses, governments and other organizations to create, manage, experience and preserve digital content. The Company’s product portfolio includes hard disk drives (HDDs), solid-state drives, direct attached storage solutions, personal cloud network attached storage solutions, and public and private cloud data center storage solutions.

5 Day Chart for NASDAQ:WDC

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