Stocks of Western Digital Corp. (NASDAQ:WDC) traded higher last session on Wall Street, up 1.52% to $60.72.
WDC stock price is now 5.59% away from the 50-day moving average and 29.09% away from the 200-day moving average. The market capitalization of the company currently stands at $19.79B.
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With the price target enhanced from $50 to $75, TD Cowen maintained Outperform rating for Western Digital Corp. (NASDAQ: WDC). On January 23, 2024, Cantor Fitzgerald recently initiated its ‘Overweight’ rating on the stock quoting a target price of $70, while ‘Morgan Stanley’ rates the stock as ‘Overweight’
In other news, Zamiska Gene M., SVP & Princ. Acctg Officer sold 10,768 shares of the company’s stock on Mar 01 ’24. The stock was sold for $660,223 at an average price of $61.31. Upon completion of the transaction, the SVP & Princ. Acctg Officer now directly owns 31,401 shares in the company, valued at $1.91 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 01 ’24, Director Alexy Kimberly sold 3,000 shares of the business’s stock. A total of $188,250 was realized by selling the stock at an average price of $62.75. This leaves the insider owning 23,157 shares of the company worth $1.41 million. A total of 1.57% of the company’s stock is owned by insiders.
During the past 12 months, Western Digital Corp. has had a low of $31.97 and a high of $65.92. As of last week, the company has a debt-to-equity ratio of 0.96, a current ratio of 1.67, and a quick ratio of 0.98. The fifty day moving average price for WDC is $57.72 and a two-hundred day moving average price translates $47.14 for the stock.
The latest earnings results from Western Digital Corp. (NASDAQ: WDC) was released for Oct, 2021. According to the Computer Hardware Company, earnings per share came in at -$0.69, beating analysts’ expectations of -$1.13 by 0.44. This compares to -$1.42 EPS in the same period last year. The net profit margin was -20.54% and return on equity was -20.37% for WDC. The company reported revenue of $3.03 billion for the quarter, compared to $3.11 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -2.41 percent. For the current quarter, analysts expect WDC to generate $3.33B in revenue.
