Vetr lowered shares of Western Digital Corporation (NASDAQ:WDC) from a strong-buy rating to a buy rating in a report issued on Monday morning. The brokerage currently has $98.49 price target on the data storage provider’s stock.

A number of other equities research analysts have also commented on WDC. UBS AG increased their price objective on shares of Western Digital Corporation from $93.00 to $97.00 and gave the stock a neutral rating in a report on Friday, October 27th. KeyCorp reissued a hold rating on shares of Western Digital Corporation in a report on Friday, October 27th. Maxim Group reissued a buy rating and set a $124.00 price objective on shares of Western Digital Corporation in a report on Friday, October 27th. Jefferies Group LLC reissued a hold rating and set a $90.00 price objective on shares of Western Digital Corporation in a report on Friday, August 18th. Finally, Barclays PLC increased their price objective on shares of Western Digital Corporation from $131.00 to $133.00 and gave the stock an overweight rating in a report on Friday, October 27th. Nine research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and three have given a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $113.95.

Western Digital Corporation (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, October 26th. The data storage provider reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.01 by $0.55. Western Digital Corporation had a net margin of 7.38% and a return on equity of 26.48%. The firm had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same quarter in the prior year, the firm earned $1.18 EPS. The company’s revenue was up 9.9% on a year-over-year basis.

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In related news, insider Mark P. Long sold 19,777 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $84.50, for a total transaction of $1,671,156.50. Following the transaction, the insider now directly owns 90,683 shares in the company, valued at $7,662,713.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mark P. Long sold 1,517 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $80.97, for a total transaction of $122,831.49. Following the transaction, the chief financial officer now owns 88,207 shares in the company, valued at $7,142,120.79. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,418 shares of company stock worth $5,881,436. 0.31% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Accredited Investors Inc. increased its holdings in Western Digital Corporation by 0.4% during the second quarter. Accredited Investors Inc. now owns 2,713 shares of the data storage provider’s stock worth $240,000 after buying an additional 11 shares during the last quarter. Cookson Peirce & Co. Inc. increased its holdings in Western Digital Corporation by 0.6% during the second quarter. Cookson Peirce & Co. Inc. now owns 3,600 shares of the data storage provider’s stock worth $319,000 after buying an additional 20 shares during the last quarter. Honkamp Krueger Financial Services Inc. increased its holdings in Western Digital Corporation by 0.5% during the second quarter. Honkamp Krueger Financial Services Inc. now owns 4,571 shares of the data storage provider’s stock worth $405,000 after buying an additional 25 shares during the last quarter. Barry Investment Advisors LLC increased its holdings in Western Digital Corporation by 0.4% during the second quarter. Barry Investment Advisors LLC now owns 6,331 shares of the data storage provider’s stock worth $561,000 after buying an additional 26 shares during the last quarter. Finally, People s United Financial Inc. increased its holdings in Western Digital Corporation by 0.3% during the second quarter. People s United Financial Inc. now owns 12,689 shares of the data storage provider’s stock worth $1,124,000 after buying an additional 41 shares during the last quarter. Institutional investors and hedge funds own 82.72% of the company’s stock.

Western Digital Corporation Company Profile

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).

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Western Digital Corporation (NASDAQ:WDC)

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