Western Digital - WDC Stock Forecast, Price & News

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 computing devices, such as desktop and notebook personal computers (PCs), smart video 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, Internet of Things, industrial, and connected home applications; and flash-based memory wafers. The company also provides data center devices and solutions comprising enterprise helium hard drives; enterprise SSDs consisting of flash-based SSDs and software solutions for use in enterprise servers, online transactions, data analysis, and other enterprise applications; data center solutions for data storage systems and tiered storage models; and data storage platforms. In addition, it offers client solutions, such as external HDD storage products in mobile and desktop form; client portable SSDs; removable cards that are used in consumer devices comprising mobile phones, tablets, imaging systems, and cameras and smart video systems; universal serial bus flash drives for use in the computing and consumer markets; and wireless drive products used in-field back up of created content, as well as wireless streaming of high-definition movies, photos, music, and documents to tablets, smartphones, and PCs. The company sells its products under the G-Technology, SanDisk, and WD brands to original equipment manufacturers, distributors, dealers, resellers, and retailers. Western Digital Corporation was founded in 1970 and is headquartered in San Jose, California.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WDC. Robert W. Baird decreased their price objective on Western Digital from $75.00 to $55.00 in a report on Monday, August 8th. Evercore ISI upped their price objective on shares of Western Digital from $60.00 to $80.00 and gave the company an "outperform" rating in a research note on Thursday, June 2nd. Benchmark cut shares of Western Digital to a "hold" rating in a research note on Monday. Craig Hallum dropped their price objective on shares of Western Digital to $85.00 in a research note on Monday. Finally, Stifel Nicolaus dropped their price objective on shares of Western Digital from $85.00 to $77.00 in a research note on Thursday, August 4th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Western Digital currently has a consensus rating of "Moderate Buy" and an average target price of $62.90.

Western Digital Stock Down 2.1 %

Western Digital stock traded down $1.04 during mid-day trading on Wednesday, reaching $48.20. 2,371,694 shares of the company's stock were exchanged, compared to its average volume of 3,939,555. The company has a market cap of $15.09 billion, a P/E ratio of 10.15 and a beta of 1.49. Western Digital has a twelve month low of $41.63 and a twelve month high of $69.99. The company has a quick ratio of 1.28, a current ratio of 2.07 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average of $47.58 and a 200-day moving average of $51.07.

Western Digital (NASDAQ:WDC - Get Rating) last released its earnings results on Friday, August 5th. The data storage provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.51 by $0.27. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.57 billion. Western Digital had a net margin of 7.98% and a return on equity of 19.15%. The firm's quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.96 EPS. Sell-side analysts expect that Western Digital will post 2.62 EPS for the current year.