Western Digital Corp (NASDAQ:WDC)‘s stock had its “positive” rating reaffirmed by investment analysts at Susquehanna Bancshares Inc in a report released on Wednesday. They currently have a $140.00 target price on the data storage provider’s stock. Susquehanna Bancshares Inc’s price objective suggests a potential upside of 62.58% from the stock’s previous close.

A number of other research analysts also recently commented on WDC. Mizuho reiterated a “buy” rating and set a $82.00 price objective (up from $72.00) on shares of Western Digital Corp in a research note on Wednesday, January 18th. BTIG Research reiterated a “buy” rating and set a $85.00 price objective on shares of Western Digital Corp in a research note on Wednesday, January 18th. Citigroup Inc set a $85.00 price objective on shares of Western Digital Corp and gave the company a “buy” rating in a research note on Wednesday, January 18th. Vetr downgraded shares of Western Digital Corp from a “strong-buy” rating to a “buy” rating and set a $78.92 price objective on the stock. in a research note on Thursday, January 19th. Finally, Cowen and Company reiterated an “outperform” rating and set a $72.00 price objective on shares of Western Digital Corp in a research note on Monday, January 23rd. Six analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $94.19.

Analyst Recommendations for Western Digital Corp (NASDAQ:WDC)

Shares of Western Digital Corp (NASDAQ:WDC) opened at 86.11 on Wednesday. Western Digital Corp has a one year low of $38.65 and a one year high of $91.00. The stock has a 50 day moving average of $86.07 and a 200-day moving average of $74.46. The firm’s market capitalization is $25.08 billion.

Western Digital Corp (NASDAQ:WDC) last announced its earnings results on Thursday, April 27th. The data storage provider reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.22. The business had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.57 billion. Western Digital Corp had a negative net margin of 2.56% and a positive return on equity of 13.38%. The business’s quarterly revenue was up 64.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 earnings per share. On average, equities analysts anticipate that Western Digital Corp will post $8.88 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Wednesday, June 28th. Western Digital Corp’s dividend payout ratio (DPR) is -133.33%.

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In related news, insider Michael D. Cordano sold 27,137 shares of the firm’s stock in a transaction that occurred on Monday, April 10th. The shares were sold at an average price of $85.07, for a total transaction of $2,308,544.59. Following the transaction, the insider now owns 62,878 shares of the company’s stock, valued at $5,349,031.46. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Srinivasan Sivaram sold 40,182 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $89.18, for a total transaction of $3,583,430.76. Following the transaction, the executive vice president now directly owns 102,202 shares in the company, valued at approximately $9,114,374.36. The disclosure for this sale can be found here. Insiders sold 203,506 shares of company stock valued at $17,378,672 over the last three months. 0.46% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of WDC. ARGI Investment Services LLC acquired a new position in shares of Western Digital Corp during the third quarter valued at $1,220,000. Clear Harbor Asset Management LLC raised its position in shares of Western Digital Corp by 97.2% in the third quarter. Clear Harbor Asset Management LLC now owns 72,970 shares of the data storage provider’s stock valued at $4,267,000 after buying an additional 35,975 shares during the last quarter. Ifrah Financial Services Inc. acquired a new position in shares of Western Digital Corp during the third quarter valued at $201,000. ProVise Management Group LLC raised its position in shares of Western Digital Corp by 48.5% in the third quarter. ProVise Management Group LLC now owns 19,750 shares of the data storage provider’s stock valued at $1,155,000 after buying an additional 6,450 shares during the last quarter. Finally, Pictet North America Advisors SA raised its position in shares of Western Digital Corp by 5.9% in the third quarter. Pictet North America Advisors SA now owns 16,503 shares of the data storage provider’s stock valued at $965,000 after buying an additional 914 shares during the last quarter. 88.22% of the stock is currently owned by hedge funds and other institutional investors.

Western Digital Corp Company Profile

Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions).

5 Day Chart for NASDAQ:WDC

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