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11 February 2018, 02:17 | Dale Webster
Western Digital Corp Q2 Profit Advances
Argus reissued a "buy" rating and set a $60.00 price objective on shares of Western Digital Corp.in a research report on Saturday, September 10th. Maxim Group maintained the stock with "Neutral" rating in Wednesday, August 19 report. As per Wednesday, October 21, the company rating was maintained by Deutsche Bank. Finally, Morgan Stanley lowered Western Digital from an "overweight" rating to an "equal weight" rating and set a $120.00 price objective for the company.in a research report on Monday, November 27th. The stock has "Outperform" rating by RBC Capital Markets on Monday, January 18. Needham has "Strong Buy" rating and $106 target. To cut down amount of noise on price chart, shares of firm has 20 days moving average price of 6.01% from last close price of 87.99 and act as support or resistance of price limit. Western Digital has a 12-month low of $71.38 and a 12-month high of $95.77.
Investors sentiment increased to 0.91 in 2017 Q3. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.64 and a quick ratio of 2.13.
Western Digital Corporation (NASDAQ:WDC) that has shown a discernible change in trend levels over the path of recent market activity. Following the completion of the sale, the insider now owns 58,153 shares of the company's stock, valued at approximately $3,439,749.95. Trading volume for Western Digital Corporation was 7 Million in its previous trading session.
Excluding items, the company earned US$3.95 per share, above expectations of US$3.79 per share.
Western Digital said it had a net loss of $823 million, or $2.78 per share on a GAAP basis, compared with a profit of $235 million, or 80 cents per share, last year.
Summit Redstone downgrades Western Digital (NYSE:WDC) from Buy to Hold following yesterday's earnings report.
The company's total revenue is up 9 percent year-over-year and CEO Steve Milligan said in a statement there was a "healthy demand" for Western Digital's enterprise hard drives and flash-based products. State Street Corp now owns 10,767,538 shares of the data storage provider's stock valued at $508,875,000 after buying an additional 772,439 shares in the last quarter. Stock repurchase programs are often an indication that the company's board of directors believes its stock is undervalued. The stock increased 0.90% or $0.79 during the last trading session, reaching $88.78.
Moving average convergence divergence (MACD) shows that the stock is on a PRICE RELATIVITY trend. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Currently, Western Digital Corporation (NASDAQ:WDC) has an average volume of 4.06 Million. Dnb Asset Mngmt As has 38,747 shares. Company insiders own 0.31% of the company's stock. Cerebellum GP LLC bought a new stake in Western Digital during the fourth quarter valued at about $121,000. Netherlands-based Apg Asset Management Nv has invested 0.15% in Western Digital Corporation (NASDAQ:WDC). BlackRock Institutional Trust Company N.A. raised its stake in Western Digital Corp.by 3.2% in the third quarter. The stock of Aetna Inc. Finally, Adviser Investments LLC bought a new stake in Western Digital during the third quarter valued at about $204,000. This gauge is crucial in determining whether investors are moved toward the direction of buying more of the stock, or else doing the contradictory side and selling more of the stock. Citigroup maintained Western Digital Corporation (NASDAQ:WDC) on Friday, May 27 with "Buy" rating.
Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry.
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