Western Digital (NASDAQ:WDC) was upgraded by stock analysts at Deutsche Bank from a “hold” rating to a “buy” rating in a research report issued on Monday, The Fly reports.

WDC has been the topic of a number of other research reports. Stifel Nicolaus lowered their target price on shares of Western Digital from $60.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, January 25th. Zacks Investment Research upgraded shares of Western Digital from a “strong sell” rating to a “hold” rating in a report on Monday, December 31st. BidaskClub lowered shares of Western Digital from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. Royal Bank of Canada lowered their target price on shares of Western Digital to $40.00 and set a “sector perform” rating on the stock in a report on Friday, January 18th. Finally, ValuEngine lowered shares of Western Digital from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $65.00.

Shares of NASDAQ WDC traded up $0.03 during trading on Monday, hitting $51.86. 4,566,671 shares of the company traded hands, compared to its average volume of 7,178,522. Western Digital has a fifty-two week low of $33.83 and a fifty-two week high of $92.06. The firm has a market capitalization of $15.07 billion, a P/E ratio of 3.84, a P/E/G ratio of 0.58 and a beta of 1.48. The company has a current ratio of 2.24, a quick ratio of 1.45 and a debt-to-equity ratio of 0.95.

Western Digital (NASDAQ:WDC) last posted its earnings results on Thursday, January 24th. The data storage provider reported $1.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.18. Western Digital had a net margin of 4.34% and a return on equity of 28.88%. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the prior year, the business posted $3.95 EPS. The firm’s revenue was down 20.7% compared to the same quarter last year. Equities research analysts forecast that Western Digital will post 4.64 EPS for the current year.

In other news, insider Mark P. Long sold 17,623 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $50.00, for a total transaction of $881,150.00. Following the completion of the transaction, the insider now directly owns 158,744 shares of the company’s stock, valued at approximately $7,937,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.36% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Sciencast Management LP bought a new position in shares of Western Digital during the 1st quarter valued at approximately $258,000. Retirement Systems of Alabama grew its position in shares of Western Digital by 0.8% during the 1st quarter. Retirement Systems of Alabama now owns 135,433 shares of the data storage provider’s stock valued at $6,509,000 after acquiring an additional 1,071 shares during the period. Louisiana State Employees Retirement System grew its position in shares of Western Digital by 1.3% during the 1st quarter. Louisiana State Employees Retirement System now owns 15,400 shares of the data storage provider’s stock valued at $740,000 after acquiring an additional 200 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in shares of Western Digital during the 1st quarter valued at approximately $254,000. Finally, Truvestments Capital LLC bought a new position in shares of Western Digital during the 1st quarter valued at approximately $614,000. 85.39% of the stock is owned by hedge funds and other institutional investors.

About Western Digital

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.

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Analyst Recommendations for Western Digital (NASDAQ:WDC)

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