Western Digital Corporation (WDC) Receiving Somewhat Favorable Press Coverage, Study Shows
News articles about Western Digital Corporation (NASDAQ:WDC) have trended somewhat positive this week, according to Accern. The research firm identifies positive and negative press coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Western Digital Corporation earned a news sentiment score of 0.12 on Accern’s scale. Accern also assigned press coverage about the data storage provider an impact score of 45.8663008675255 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
These are some of the media headlines that may have impacted Accern Sentiment’s scoring:
- Western Digital Corporation (WDC) Receives Hold Rating from Jefferies Group LLC (americanbankingnews.com)
- Advisor Partners Raises Stake in Western Digital Corporation – Insider Tradings (insidertradings.org)
- 3 Big Stock Charts for Monday: Nvidia Corporation (NVDA), Micron Technology, Inc. (MU) and Western Digital Corp … – Yahoo Finance (finance.yahoo.com)
- Fort Pitt Capital Group, LLC Buys A Little More Western Digital Corporation (WDC) Stock – Modern Readers (modernreaders.com)
- Western Digital Corporation (WDC) Rating Increased to Hold at BidaskClub (americanbankingnews.com)
Shares of Western Digital Corporation (WDC) traded up 0.87% during mid-day trading on Friday, reaching $83.20. The company’s stock had a trading volume of 3,002,888 shares. The company’s 50-day moving average price is $87.67 and its 200-day moving average price is $84.55. The stock has a market capitalization of $24.29 billion, a P/E ratio of 62.09 and a beta of 1.22. Western Digital Corporation has a 12-month low of $45.25 and a 12-month high of $95.77.
Western Digital Corporation (NASDAQ:WDC) last issued its earnings results on Thursday, July 27th. The data storage provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.42. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.82 billion. Western Digital Corporation had a return on equity of 21.23% and a net margin of 2.08%. The company’s revenue was up 38.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 earnings per share. On average, equities research analysts forecast that Western Digital Corporation will post $12.54 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a yield of 2.40%. Western Digital Corporation’s dividend payout ratio is currently 156.25%.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Western Digital Corporation from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research report on Friday, April 21st. Vetr lowered shares of Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $94.27 price target on the stock. in a research report on Monday, April 24th. Raymond James Financial, Inc. reiterated an “outperform” rating and set a $96.00 price objective on shares of Western Digital Corporation in a research note on Tuesday, April 25th. BMO Capital Markets reiterated a “buy” rating and set a $104.00 price objective on shares of Western Digital Corporation in a research note on Thursday, April 27th. Finally, Cowen and Company raised their price target on shares of Western Digital Corporation from $90.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, April 28th. Eight analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. Western Digital Corporation currently has an average rating of “Buy” and an average price target of $104.66.
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In related news, COO Michael D. Cordano sold 4,954 shares of the stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $94.98, for a total value of $470,530.92. Following the completion of the sale, the chief operating officer now owns 66,092 shares of the company’s stock, valued at $6,277,418.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michael Charles Ray sold 524 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $92.30, for a total value of $48,365.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 123,644 shares of company stock worth $10,946,300. Company insiders own 0.46% of the company’s stock.
About Western Digital Corporation
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).
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