The stock of Western Digital Corp. (NASDAQ:WDC) last traded at $75.69, up 2.92% from the previous session.
WDC stock price is now 11.03% away from the 50-day moving average and 42.67% away from the 200-day moving average. The market capitalization of the company currently stands at $24.71B.
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With the price target of $90, Citigroup recently initiated with Buy rating for Western Digital Corp. (NASDAQ: WDC). On April 26, 2024, The Benchmark Company Upgraded its previous ‘Hold’ rating to ‘Buy’ on the stock keeping its target price maintained at $85, while ‘Raymond James’ rates the stock as ‘Mkt Perform’
In other news, Zamiska Gene M., SVP & Princ. Acctg Officer sold 443 shares of the company’s stock on Apr 08 ’24. The stock was sold for $33,225 at an average price of $75.00. Upon completion of the transaction, the SVP & Princ. Acctg Officer now directly owns 30,958 shares in the company, valued at $2.34 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 01 ’24, Director Alexy Kimberly sold 2,648 shares of the business’s stock. A total of $185,228 was realized by selling the stock at an average price of $69.95. This leaves the insider owning 20,509 shares of the company worth $1.55 million. A total of 1.72% of the company’s stock is owned by insiders.
During the past 12 months, Western Digital Corp. has had a low of $34.56 and a high of $76.92. As of last week, the company has a debt-to-equity ratio of 0.90, a current ratio of 1.86, and a quick ratio of 1.07.
According to the Computer Hardware Company, earnings per share came in at -1.98, beating analysts’ expectations of -2.01 by 0.03. This compares to -$1.79 EPS in the same period last year. The net profit margin was -13.58% and return on equity was -14.28% for WDC. The company reported revenue of $3.46 billion for the quarter, compared to $2.8 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 23.33 percent. For the current quarter, analysts expect WDC to generate $3.73B in revenue.
