Reaffirmed: Western Digital (NASDAQ:WDC) Buy Rating Reiterated by Analysts at Mizuho Securities; $110.0000 Target in Place

May 17, 2018 - By Ann Prendergast

Western Digital Corporation (NASDAQ:WDC) Logo

Investors sentiment decreased to 1.07 in Q4 2017. Its down 0.05, from 1.12 in 2017Q3. It dropped, as 68 investors sold Western Digital Corporation shares while 219 reduced holdings. 82 funds opened positions while 224 raised stakes. 243.21 million shares or 1.21% more from 240.32 million shares in 2017Q3 were reported.

Leavell Investment Mngmt invested 0.13% in Western Digital Corporation (NASDAQ:WDC). Acadian Asset invested in 0% or 1,660 shares. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Invest Corporation has invested 0.1% in Western Digital Corporation (NASDAQ:WDC). Oppenheimer Asset Management holds 21,153 shares or 0.05% of its portfolio. Maverick Ltd stated it has 93,040 shares or 0.09% of all its holdings. Quantbot Ltd Partnership owns 0.29% invested in Western Digital Corporation (NASDAQ:WDC) for 39,876 shares. Centre Asset Mngmt invested in 89,140 shares or 1.73% of the stock. Boston Prtn stated it has 0.06% of its portfolio in Western Digital Corporation (NASDAQ:WDC). 8,000 are held by New Jersey Better Educational Savings Tru. Jaffetilchin Inv Ptnrs Ltd Llc invested in 3,189 shares or 0.08% of the stock. First Citizens Retail Bank And Trust accumulated 3,826 shares. Metropolitan Life Ins Ny accumulated 47,781 shares or 0.05% of the stock. Stone Ridge Asset Management Limited Liability accumulated 0.83% or 158,686 shares. Primecap Mngmt Com Ca has 872,706 shares. Ngam Advsr Limited Partnership reported 0.07% in Western Digital Corporation (NASDAQ:WDC).

Since January 29, 2018, it had 0 insider purchases, and 12 selling transactions for $24.43 million activity. 90,755 Western Digital Corporation (NASDAQ:WDC) shares with value of $8.00M were sold by MILLIGAN STEPHEN D. 4,466 shares were sold by LONG MARK P, worth $376,037. $942,109 worth of Western Digital Corporation (NASDAQ:WDC) was sold by Sivaram Srinivasan on Friday, February 16.

Western Digital (NASDAQ:WDC) Rating Reaffirmed

In analysts note issued to investors and clients on Tuesday, 15 May, The Buy rating of Western Digital (NASDAQ:WDC) shares was reconfirmed at Mizuho Securities, who now has a $110.0000 target on the stock. Mizuho Securities’s target suggests a possible upside of 27.14 % from the previous close of the company.

Western Digital Corporation (NASDAQ:WDC) Ratings Coverage

Among 20 analysts covering Western Digital (NASDAQ:WDC), 15 have Buy rating, 0 Sell and 5 Hold. Therefore 75% are positive. Western Digital has $15000 highest and $84.0 lowest target. $116.06’s average target is 34.14% above currents $86.52 stock price. Western Digital had 32 analyst reports since November 27, 2017 according to SRatingsIntel. The stock has “Overweight” rating by Barclays Capital on Friday, April 27. As per Friday, April 27, the company rating was maintained by Benchmark. On Wednesday, December 13 the stock rating was maintained by KeyBanc Capital Markets with “Hold”. The stock of Western Digital Corporation (NASDAQ:WDC) has “Buy” rating given on Friday, April 27 by Maxim Group. As per Tuesday, March 13, the company rating was maintained by Guggenheim. Mizuho maintained the stock with “Buy” rating in Friday, January 26 report. On Friday, March 16 the stock rating was upgraded by Robert W. Baird to “Outperform”. The stock has “Buy” rating by Loop Capital Markets on Wednesday, December 13. On Monday, March 5 the stock rating was maintained by Craig Hallum with “Buy”. The stock has “Buy” rating by Stifel Nicolaus on Friday, February 23.

The stock decreased 0.57% or $0.5 during the last trading session, reaching $86.52. About 3.84M shares traded. Western Digital Corporation (NASDAQ:WDC) has risen 17.32% since May 18, 2017 and is uptrending. It has outperformed by 5.77% the S&P500.

Analysts await Western Digital Corporation (NASDAQ:WDC) to report earnings on July, 26. They expect $3.19 earnings per share, up 21.29 % or $0.56 from last year’s $2.63 per share. WDC’s profit will be $954.57 million for 6.78 P/E if the $3.19 EPS becomes a reality. After $3.36 actual earnings per share reported by Western Digital Corporation for the previous quarter, Wall Street now forecasts -5.06 % negative EPS growth.

Western Digital Corporation, together with its subsidiaries, develops, makes, and sells data storage devices and solutions worldwide. The company has market cap of $25.89 billion. It offers performance hard disk drives that are used in enterprise servers, data analysis, and other enterprise applications; capacity HDDs and drive configurations for use in data storage systems and tiered storage models; and enterprise solid state drives (SSDs), including NAND-flash SSDs and software solutions that are designed to enhance the performance in various enterprise workload environments. It has a 67.44 P/E ratio. The firm also provides system solutions that offer petabyte scalable capacity; data storage platforms and systems; datacenter software and systems; and HDDs and SSDs for desktop and notebook PCs, gaming consoles, security surveillance systems, and set top boxes.

More notable recent Western Digital Corporation (NASDAQ:WDC) news were published by: Streetinsider.com which released: “Viking Global’s 13F Shows New Stakes in Alibaba (BABA), BioMarin (BMRN) and Western Digital (WDC), Increase in …” on May 15, 2018, also Streetinsider.com with their article: “Western Digital (WDC) Plans Stock Buyback up to $1 Billion; Announces Repricing of $2.455 Billion of USD Term B …” published on May 15, 2018, Investorplace.com published: “3 Stocks to Buy Before They Break Out” on May 14, 2018. More interesting news about Western Digital Corporation (NASDAQ:WDC) were released by: Nasdaq.com and their article: “China Eases the Pressure on Qualcomm’s NXP Deal” published on May 15, 2018 as well as Fool.com‘s news article titled: “Why Shares of Western Digital Corporation Fell 14.6% in April” with publication date: May 11, 2018.

Western Digital Corporation (NASDAQ:WDC) Institutional Positions Chart

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