Western Digital Corporation (NASDAQ:WDC)‘s stock had its “buy” rating reiterated by equities research analysts at Benchmark Co. in a report released on Thursday. They currently have a $135.00 price target on the data storage provider’s stock. Benchmark Co.’s price target points to a potential upside of 55.17% from the stock’s current price.

Other analysts also recently issued reports about the stock. Susquehanna Bancshares Inc restated a “positive” rating and set a $140.00 target price on shares of Western Digital Corporation in a report on Wednesday, May 17th. Maxim Group restated a “buy” rating and set a $108.00 target price on shares of Western Digital Corporation in a report on Wednesday, June 21st. UBS AG restated a “neutral” rating and set a $92.00 target price (up from $90.00) on shares of Western Digital Corporation in a report on Wednesday, June 28th. Royal Bank Of Canada restated a “buy” rating on shares of Western Digital Corporation in a report on Monday, June 12th. Finally, Guggenheim restated a “buy” rating and set a $125.00 target price on shares of Western Digital Corporation in a report on Wednesday, June 14th. Seven equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $107.23.

Western Digital Corporation (NASDAQ:WDC) opened at 87.00 on Thursday. Western Digital Corporation has a 12 month low of $50.10 and a 12 month high of $95.77. The stock has a market capitalization of $25.40 billion, a P/E ratio of 64.93 and a beta of 1.21. The company’s 50-day moving average is $86.77 and its 200-day moving average is $85.65.

Western Digital Corporation (NASDAQ:WDC) last announced its earnings results on Thursday, July 27th. The data storage provider reported $2.93 EPS for the quarter, topping the consensus estimate 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 net margin of 2.08% and a return on equity of 21.23%. The business’s quarterly revenue was up 38.5% on a year-over-year basis. During the same period last year, the company posted $0.79 EPS. Equities analysts anticipate that Western Digital Corporation will post $12.54 earnings per share for the current year.

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In other Western Digital Corporation news, insider Mark P. Long sold 1,517 shares of Western Digital Corporation stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $88.49, for a total value of $134,239.33. Following the transaction, the insider now owns 88,207 shares in the company, valued at $7,805,437.43. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Michael D. Cordano sold 4,954 shares of Western Digital Corporation stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $94.98, for a total value of $470,530.92. Following the completion of the transaction, the chief operating officer now owns 66,092 shares in the company, valued at approximately $6,277,418.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 144,767 shares of company stock valued at $12,690,484. 0.46% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Intl Fcstone Inc. bought a new position in Western Digital Corporation in the second quarter valued at about $862,000. Lord Abbett & CO. LLC grew its position in Western Digital Corporation by 52.6% in the second quarter. Lord Abbett & CO. LLC now owns 464,600 shares of the data storage provider’s stock valued at $41,164,000 after acquiring an additional 160,100 shares during the last quarter. Navellier & Associates Inc bought a new position in Western Digital Corporation in the second quarter valued at about $3,389,000. Toronto Dominion Bank grew its position in Western Digital Corporation by 26.9% in the second quarter. Toronto Dominion Bank now owns 98,623 shares of the data storage provider’s stock valued at $8,737,000 after acquiring an additional 20,917 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. grew its position in Western Digital Corporation by 0.6% in the second quarter. Cookson Peirce & Co. Inc. now owns 3,600 shares of the data storage provider’s stock valued at $319,000 after acquiring an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 82.43% 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).

Analyst Recommendations for Western Digital Corporation (NASDAQ:WDC)

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