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.

Western Digital Stock Performance

NASDAQ:WDC traded up $1.37 during trading hours on Wednesday, reaching $47.68. 2,631,464 shares of the stock were exchanged, compared to its average volume of 3,986,987. Western Digital has a 52 week low of $41.63 and a 52 week 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 stock has a market capitalization of $14.93 billion, a P/E ratio of 9.75 and a beta of 1.49. The firm has a 50 day simple moving average of $48.89 and a 200-day simple moving average of $51.26.

Western Digital (NASDAQ:WDC - Get Rating) last released its quarterly earnings data on Friday, August 5th. The data storage provider reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.51 by $0.27. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.57 billion. Western Digital had a net margin of 7.98% and a return on equity of 19.15%. The firm's revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.96 earnings per share. As a group, sell-side analysts forecast that Western Digital will post 7.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on WDC shares. Robert W. Baird dropped their price target on Western Digital from $75.00 to $55.00 in a research note on Monday. Cowen increased their target price on shares of Western Digital from $60.00 to $65.00 in a research report on Friday, April 29th. Citigroup reduced their price target on shares of Western Digital from $75.00 to $60.00 and set a "buy" rating on the stock in a research report on Monday. Craig Hallum dropped their price objective on shares of Western Digital to $85.00 in a research report on Tuesday. Finally, Susquehanna Bancshares lowered shares of Western Digital from a "positive" rating to a "neutral" rating and reduced their target price for the company from $80.00 to $50.00 in a report on Thursday, April 14th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $63.47.