Western Digital (WDC) – Research Analysts’ Weekly Ratings Changes

A number of research firms have changed their ratings and price targets for Western Digital (NASDAQ: WDC):

  • 10/26/2018 – Western Digital had its price target lowered by analysts at Royal Bank of Canada to $57.00. They now have a “sector perform” rating on the stock.
  • 10/26/2018 – Western Digital had its price target lowered by analysts at Morgan Stanley from $96.00 to $53.00. They now have a “reduce” rating on the stock.
  • 10/26/2018 – Western Digital had its price target lowered by analysts at Wells Fargo & Co from $115.00 to $75.00. They now have an “outperform” rating on the stock.
  • 10/26/2018 – Western Digital was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating. They now have a $62.00 price target on the stock, down previously from $117.00.
  • 10/26/2018 – Western Digital was downgraded by analysts at Longbow Research from a “buy” rating to a “neutral” rating.
  • 10/26/2018 – Western Digital had its price target lowered by analysts at BMO Capital Markets from $60.00 to $50.00. They now have a “market perform” rating on the stock.
  • 10/26/2018 – Western Digital had its price target lowered by analysts at Cowen Inc from $70.00 to $60.00. They now have a “market perform” rating on the stock.
  • 10/26/2018 – Western Digital was given a new $50.00 price target on by analysts at Macquarie. They now have a “hold” rating on the stock.
  • 10/26/2018 – Western Digital was downgraded by analysts at Craig Hallum from a “buy” rating to a “hold” rating. They now have a $59.00 price target on the stock, down previously from $115.00.
  • 10/26/2018 – Western Digital had its “hold” rating reaffirmed by analysts at Benchmark Co..
  • 10/26/2018 – Western Digital had its price target lowered by analysts at Loop Capital to $80.00. They now have an “average” rating on the stock.
  • 10/25/2018 – Western Digital had its “hold” rating reaffirmed by analysts at BMO Capital Markets. They now have a $60.00 price target on the stock.
  • 10/12/2018 – Western Digital was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.
  • 10/1/2018 – Western Digital had its price target lowered by analysts at Royal Bank of Canada to $68.00. They now have a “sector perform” rating on the stock.
  • 10/1/2018 – Western Digital was downgraded by analysts at Mizuho from a “buy” rating to a “neutral” rating.
  • 9/21/2018 – Western Digital had its price target lowered by analysts at Benchmark Co. from $120.00 to $110.00. They now have a “buy” rating on the stock.
  • 9/17/2018 – Western Digital had its “buy” rating reaffirmed by analysts at Guggenheim. They now have a $125.00 price target on the stock. They wrote, “We continue to estimate WDC’s EPS cycling down to ~$10 in CY19E but believe that is far better than many believe, with risk that sentiment might not trough until NAND margins do in Mar/Jun-19 (our cyclical forecast for a year now), but with today’s stock price more than discounting that.””
  • 9/12/2018 – Western Digital was downgraded by analysts at Goldman Sachs Group Inc to a “hold” rating. They now have a $63.00 price target on the stock.
  • 9/11/2018 – Western Digital was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating. They now have a $70.00 price target on the stock, down previously from $95.00.
  • 9/6/2018 – Western Digital was given a new $100.00 price target on by analysts at Longbow Research. They now have a “buy” rating on the stock.

WDC stock opened at $44.19 on Monday. Western Digital Corp has a 1 year low of $42.00 and a 1 year high of $106.96. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.73 and a current ratio of 2.39. The company has a market capitalization of $12.82 billion, a P/E ratio of 3.27, a P/E/G ratio of 0.22 and a beta of 0.90.

The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date was Thursday, September 27th. Western Digital’s payout ratio is currently 14.80%.



In other Western Digital news, CFO Mark P. Long sold 1,214 shares of the stock in a transaction on Monday, August 6th. The stock was sold at an average price of $67.65, for a total transaction of $82,127.10. Following the transaction, the chief financial officer now owns 191,154 shares of the company’s stock, valued at approximately $12,931,568.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael Charles Ray sold 4,387 shares of the stock in a transaction on Monday, August 6th. The stock was sold at an average price of $67.65, for a total value of $296,780.55. Following the transaction, the executive vice president now directly owns 107,155 shares in the company, valued at approximately $7,249,035.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,834 shares of company stock worth $532,404. 0.36% of the stock is owned by corporate insiders.

Several institutional investors have recently modified their holdings of WDC. Russell Investments Group Ltd. raised its position in shares of Western Digital by 129.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 326,084 shares of the data storage provider’s stock worth $19,072,000 after buying an additional 184,094 shares during the period. Personal Resources Investment & Strategic Management Inc. raised its position in shares of Western Digital by 40.1% in the 3rd quarter. Personal Resources Investment & Strategic Management Inc. now owns 39,899 shares of the data storage provider’s stock worth $2,209,000 after buying an additional 11,415 shares during the period. Alps Advisors Inc. raised its position in shares of Western Digital by 123.9% in the 3rd quarter. Alps Advisors Inc. now owns 39,392 shares of the data storage provider’s stock worth $2,306,000 after buying an additional 21,796 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of Western Digital by 11.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 571,029 shares of the data storage provider’s stock worth $33,485,000 after buying an additional 58,073 shares during the period. Finally, Palo Capital Inc. raised its position in shares of Western Digital by 245.8% in the 3rd quarter. Palo Capital Inc. now owns 26,657 shares of the data storage provider’s stock worth $1,561,000 after buying an additional 18,948 shares during the period. 83.57% of the stock is currently owned by institutional investors.

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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