Western Digital Corp (NASDAQ:WDC) Director Matthew E. Massengill sold 3,110 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $52.17, for a total value of $162,248.70. Following the completion of the sale, the director now directly owns 22,387 shares of the company’s stock, valued at $1,167,929.79. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

WDC stock traded up $0.55 during midday trading on Tuesday, hitting $52.54. 4,203,500 shares of the stock were exchanged, compared to its average volume of 6,009,081. The stock’s 50-day moving average price is $58.02 and its 200-day moving average price is $52.04. The stock has a market cap of $15.40 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 16.26 and a beta of 1.82. Western Digital Corp has a fifty-two week low of $33.83 and a fifty-two week high of $65.31. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.22 and a current ratio of 1.98.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Wednesday, October 30th. The data storage provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.41. The firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Western Digital had a positive return on equity of 3.28% and a negative net margin of 9.89%. Western Digital’s revenue was down 19.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.04 earnings per share. Research analysts anticipate that Western Digital Corp will post 1.6 EPS for the current year.

Several research firms have recently commented on WDC. UBS Group set a $63.00 price target on Western Digital and gave the company a “hold” rating in a report on Tuesday, September 10th. Wedbush raised Western Digital from an “underperform” rating to a “neutral” rating and raised their price target for the company from $32.50 to $54.50 in a report on Thursday, August 1st. Deutsche Bank raised their price target on Western Digital from $55.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Maxim Group set a $126.00 price target on Western Digital and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Barclays began coverage on Western Digital in a report on Wednesday, August 7th. They issued an “equal weight” rating and a $53.00 price target for the company. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company. Western Digital currently has an average rating of “Hold” and a consensus target price of $61.66.

A number of hedge funds have recently modified their holdings of the stock. Amundi Pioneer Asset Management Inc. increased its position in Western Digital by 8.5% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 291,747 shares of the data storage provider’s stock worth $14,022,000 after buying an additional 22,751 shares in the last quarter. DNB Asset Management AS increased its position in Western Digital by 3,652.9% during the second quarter. DNB Asset Management AS now owns 1,288,814 shares of the data storage provider’s stock worth $61,283,000 after buying an additional 1,254,472 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in Western Digital by 8.8% during the second quarter. Crossmark Global Holdings Inc. now owns 44,343 shares of the data storage provider’s stock worth $2,109,000 after buying an additional 3,572 shares in the last quarter. Retirement Systems of Alabama increased its position in Western Digital by 0.9% during the second quarter. Retirement Systems of Alabama now owns 136,634 shares of the data storage provider’s stock worth $6,497,000 after buying an additional 1,201 shares in the last quarter. Finally, Sanders Morris Harris LLC purchased a new position in Western Digital during the second quarter worth $460,000. 84.28% 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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