Shares of Western Digital Corp (NASDAQ:WDC) have been assigned a consensus rating of “Hold” from the twenty-eight research firms that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $61.29.

A number of equities analysts have recently issued reports on WDC shares. Longbow Research restated a “buy” rating on shares of Western Digital in a research note on Tuesday, October 15th. UBS Group set a $63.00 price objective on shares of Western Digital and gave the stock a “hold” rating in a report on Tuesday, September 10th. Cleveland Research reaffirmed a “hold” rating on shares of Western Digital in a report on Monday, October 21st. Mizuho raised their price objective on shares of Western Digital from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, Royal Bank of Canada reduced their price objective on shares of Western Digital to $64.00 and set an “outperform” rating for the company in a report on Thursday, October 31st.

In related news, COO Michael D. Cordano sold 4,640 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $55.35, for a total value of $256,824.00. Following the completion of the sale, the chief operating officer now owns 281,344 shares of the company’s stock, valued at $15,572,390.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction 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 approximately $1,167,929.79. The disclosure for this sale can be found here. Insiders sold a total of 13,375 shares of company stock worth $728,504 over the last three months. 0.44% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of WDC. Eads & Heald Wealth Management acquired a new position in shares of Western Digital in the 3rd quarter valued at approximately $216,000. Keybank National Association OH acquired a new position in Western Digital during the 3rd quarter valued at about $202,000. Wedbush Securities Inc. increased its holdings in Western Digital by 8.9% during the 2nd quarter. Wedbush Securities Inc. now owns 9,280 shares of the data storage provider’s stock worth $441,000 after purchasing an additional 762 shares in the last quarter. Alpha Windward LLC purchased a new stake in shares of Western Digital in the third quarter worth approximately $454,000. Finally, Augustine Asset Management Inc. raised its stake in shares of Western Digital by 0.4% in the third quarter. Augustine Asset Management Inc. now owns 51,445 shares of the data storage provider’s stock worth $3,068,000 after purchasing an additional 197 shares during the last quarter. 84.52% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:WDC traded up $0.59 during trading on Tuesday, reaching $54.32. The stock had a trading volume of 472,033 shares, compared to its average volume of 4,600,491. Western Digital has a 52 week low of $33.83 and a 52 week high of $65.31. The firm has a market capitalization of $15.19 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 15.57 and a beta of 1.79. The company has a quick ratio of 1.22, a current ratio of 1.98 and a debt-to-equity ratio of 1.04. The stock has a fifty day simple moving average of $52.13 and a two-hundred day simple moving average of $52.37.

Western Digital (NASDAQ:WDC) last announced 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 business had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.92 billion. Western Digital had a negative net margin of 9.89% and a positive return on equity of 3.28%. Western Digital’s quarterly revenue was down 19.6% on a year-over-year basis. During the same quarter last year, the company posted $3.04 earnings per share. On average, analysts forecast that Western Digital will post 1.64 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Friday, January 3rd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Thursday, January 2nd. Western Digital’s dividend payout ratio (DPR) is currently 52.49%.

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.

Featured Story: Asset Allocation

Analyst Recommendations for Western Digital (NASDAQ:WDC)

Receive News & Ratings for Western Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Digital and related companies with MarketBeat.com's FREE daily email newsletter.