Western Digital Corporation (NASDAQ:WDC) stock is expected to deviate a maximum of $17.05 from the average target price of $61 for the short term period. 14 Street Experts have initiated coverage on the stock with the most promising target being $97 and the most muted being $32.
Western Digital Corporation has dropped 5.92% in the last five trading days, however, the shares have posted positive gains of 0.36% in the last 4 weeks. Western Digital Corporation is up 2.58% in the last 3-month period. Year-to-Date the stock performance stands at -19.56%. Also, Equity Analysts at the JP Morgan assumes the rating on Western Digital Corporation (NASDAQ:WDC). The brokerage firm has issued a Neutral rating on the shares. The rating by the firm was issued on June 15, 2016.
Western Digital Corporation (NASDAQ:WDC) : The consensus on Western Digital Corporation (NASDAQ:WDC) based on 23 analyst recommendation on the company stock is 1.83, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 5 which endorses a Strong Sell on the stock. However, 14 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 2 analyst believes that the stock is a Buy, which can produce decent returns in the future. 5 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock. 1 analyst also believes that the downside risk to the stock is higher and suggests a Sell on Western Digital Corporation (NASDAQ:WDC).
Western Digital Corporation (NASDAQ:WDC): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $45.72 and $44.85 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $47.28. The buying momentum continued till the end and the stock did not give up its gains. It closed at $47.26, notching a gain of 3.64% for the day. The total traded volume was 6,241,526 . The stock had closed at $45.60 on the previous day.
In an insider trading activity, Milligan Stephen D, CEO of Western Digital Corp had purchased 22,500 shares on May 31, 2016 in a transaction. The price per share was $45.53 and the total amount of the disclosed transaction was $1,024,425.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.
Western Digital Corporation, is a data storage solutions company. The Company is a developer, manufacturer and provider of data storage solutions that enable consumers, businesses, governments and other organizations to create, manage, experience and preserve digital content. The Companys Technology product includes: Hard Disk Drives and Solid-State Drives. Hard Disk Drives, provide non-volatile data storage. Solid-State Drives, are semiconductor and non-volatile media. The Company offers solutions including: Enterprise Storage Solutions, Client Desktop and Notebook PCs, Branded Product Solutions, Consumer Electronics Solutions. The Companys products are marketed under the HGST, WD and G-Technology brand names.