Western Digital Corporation (WDC) Receiving Somewhat Favorable Media Coverage, Study Shows
Media stories about Western Digital Corporation (NASDAQ:WDC) have been trending somewhat positive this week, according to Accern Sentiment Analysis. The research group identifies positive and negative news coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Western Digital Corporation earned a media sentiment score of 0.13 on Accern’s scale. Accern also assigned news articles about the data storage provider an impact score of 45.2897345073509 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Here are some of the news articles that may have impacted Accern Sentiment’s analysis:
- Toshiba to continue talks with bidders for chip unit – Jiji (feeds.reuters.com)
- Western Digital and Toshiba Could Go Down to the Wire, Says Susquehanna (barrons.com)
- Western Digital (WDC) to Acquire Tegile Systems (streetinsider.com)
- Western Digital Buys Flash Vendor Tegile (enterprisetech.com)
- Western Digital strikes again, buys Newark flash storage startup (bizjournals.com)
Western Digital Corporation (NASDAQ WDC) opened at 90.30 on Thursday. Western Digital Corporation has a one year low of $45.70 and a one year high of $95.77. The company has a 50 day moving average of $87.79 and a 200-day moving average of $84.86. The firm has a market cap of $26.37 billion, a PE ratio of 67.39 and a beta of 1.22.
Western Digital Corporation (NASDAQ:WDC) last issued its quarterly 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. Western Digital Corporation had a return on equity of 21.23% and a net margin of 2.08%. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period in the previous year, the company earned $0.79 earnings per share. The company’s quarterly revenue was up 38.5% compared to the same quarter last year. On average, equities research analysts predict that Western Digital Corporation will post $12.54 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.21%. Western Digital Corporation’s dividend payout ratio (DPR) is presently 156.25%.
WDC has been the topic of several research analyst reports. BidaskClub lowered shares of Western Digital Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $140.00 target price on shares of Western Digital Corporation in a research report on Wednesday, May 17th. Jefferies Group LLC reiterated a “hold” rating and issued a $90.00 target price on shares of Western Digital Corporation in a research report on Wednesday, June 28th. Vetr upgraded shares of Western Digital Corporation from a “buy” rating to a “strong-buy” rating and set a $101.80 target price on the stock in a research report on Monday, June 12th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $115.00 target price on shares of Western Digital Corporation in a research report on Monday, May 22nd. Eight investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $104.51.
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In related news, EVP Michael Charles Ray sold 524 shares of the company’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark P. Long sold 1,517 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $88.49, for a total value of $134,239.33. Following the completion of the transaction, the insider now owns 88,207 shares of the company’s stock, valued at $7,805,437.43. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,291 shares of company stock valued at $12,738,849. Corporate 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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