Somewhat Positive Press Coverage Somewhat Unlikely to Affect Western Digital (WDC) Stock Price
Press coverage about Western Digital (NASDAQ:WDC) has trended somewhat positive recently, according to Accern Sentiment. The research firm identifies positive and negative media coverage by reviewing more than twenty million blog and news sources in real time. 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 earned a news sentiment score of 0.20 on Accern’s scale. Accern also gave headlines about the data storage provider an impact score of 47.1274765990529 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
These are some of the news headlines that may have effected Accern Sentiment Analysis’s rankings:
- Why Western Digital Corporation’s (NASDAQ:WDC) ROE Of 3.51% Does Not Tell The Whole Story (finance.yahoo.com)
- Short Interest in Western Digital Corp (WDC) Declines By 27.5% (americanbankingnews.com)
- Western Digital to Participate at Investor Conference (finance.yahoo.com)
- Best Stocks to Buy Now That the Dow Has Cratered – TheStreet.com (thestreet.com)
- How Much Have Storage Stocks Such as Western Digital Fallen? (finance.yahoo.com)
Western Digital (NASDAQ:WDC) traded up $1.75 during mid-day trading on Monday, reaching $82.34. The company had a trading volume of 3,296,765 shares, compared to its average volume of 4,530,000. The company has a current ratio of 2.55, a quick ratio of 2.03 and a debt-to-equity ratio of 1.04. Western Digital has a 12 month low of $71.38 and a 12 month high of $95.77. The firm has a market cap of $24,300.00, a PE ratio of 68.05, a price-to-earnings-growth ratio of 0.34 and a beta of 1.13.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.43%. The ex-dividend date is Thursday, March 29th. Western Digital’s payout ratio is 165.29%.
Western Digital announced that its board has initiated a stock buyback program on Thursday, November 9th that permits the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization permits the data storage provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
A number of equities analysts have weighed in on WDC shares. Vetr lowered Western Digital from a “strong-buy” rating to a “buy” rating and set a $97.62 price objective for the company. in a research note on Monday, November 13th. BidaskClub upgraded Western Digital from a “hold” rating to a “buy” rating in a research note on Tuesday, October 17th. Maxim Group restated a “buy” rating and issued a $124.00 price target on shares of Western Digital in a research note on Friday, October 27th. Citigroup lifted their price target on Western Digital from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Finally, Summit Redstone upgraded Western Digital from a “hold” rating to a “buy” rating in a research note on Wednesday, December 13th. Thirteen research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $111.78.
In other news, CEO Stephen D. Milligan sold 90,755 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $88.12, for a total transaction of $7,997,330.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael D. Cordano sold 1,401 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $85.00, for a total value of $119,085.00. Following the transaction, the insider now owns 70,560 shares in the company, valued at $5,997,600. The disclosure for this sale can be found here. Over the last quarter, insiders sold 152,529 shares of company stock worth $13,285,093. 0.31% of the stock is currently owned by insiders.
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About Western Digital
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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