Western Digital Co. (NASDAQ:WDC) Declares $0.10 Quarterly Dividend

Western Digital Co. (NASDAQ:WDC - Get Free Report) declared a quarterly dividend on Wednesday, April 30th, RTT News reports. Shareholders of record on Wednesday, June 4th will be given a dividend of 0.10 per share by the data storage provider on Wednesday, June 18th. This represents a $0.40 dividend on an annualized basis and a yield of 0.95%.

Western Digital Stock Performance

Shares of WDC traded up $1.53 during trading hours on Wednesday, reaching $42.15. 2,438,053 shares of the company's stock traded hands, compared to its average volume of 8,890,799. The business's fifty day simple moving average is $41.14 and its two-hundred day simple moving average is $57.53. The firm has a market capitalization of $14.66 billion, a price-to-earnings ratio of 10.04 and a beta of 1.39. Western Digital has a twelve month low of $28.83 and a twelve month high of $61.16. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26.

Insider Buying and Selling

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of Western Digital stock in a transaction on Friday, March 7th. The shares were sold at an average price of $41.36, for a total value of $68,616.24. Following the sale, the senior vice president now directly owns 43,776 shares in the company, valued at approximately $1,810,575.36. The trade was a 3.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on WDC shares. Robert W. Baird reduced their price target on shares of Western Digital from $100.00 to $80.00 and set an "outperform" rating for the company in a research report on Thursday, January 30th. Cantor Fitzgerald dropped their price target on shares of Western Digital from $95.00 to $65.00 and set an "overweight" rating on the stock in a research report on Friday, March 7th. Wells Fargo & Company reaffirmed a "neutral" rating on shares of Western Digital in a research report on Friday, April 11th. The Goldman Sachs Group lifted their price target on shares of Western Digital from $70.00 to $80.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Finally, Citigroup decreased their price target on shares of Western Digital from $64.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $70.39.

Western Digital Company Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.

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