Deutsche Bank reaffirmed their buy rating on shares of Western Digital Corp (NYSE:WDC) in a research note issued to investors on Sunday, MarketBeat reports. Deutsche Bank currently has a $62.00 price objective on the data storage provider’s stock, down from their prior price objective of $80.00.

Several other equities research analysts also recently commented on the stock. BMO Capital Markets restated a market perform rating and issued a $49.00 target price (down previously from $60.00) on shares of Western Digital Corp in a research note on Sunday. Brean Capital reiterated a buy rating and set a $150.00 price target on shares of Western Digital Corp in a research report on Saturday. Maxim Group reduced their price target on shares of Western Digital Corp from $118.00 to $101.00 and set a buy rating on the stock in a research report on Friday. RBC Capital reduced their price target on shares of Western Digital Corp from $76.00 to $68.00 and set an outperform rating on the stock in a research report on Friday. Finally, Mizuho reduced their price target on shares of Western Digital Corp to $50.00 and set a neutral rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have given a buy rating to the company. The company has an average rating of Buy and an average target price of $88.63.

Western Digital Corp (NYSE:WDC) traded up 5.01% on Friday, hitting $47.98. 11,064,889 shares of the stock traded hands. The stock has a market capitalization of $11.13 billion and a P/E ratio of 9.89. The company’s 50 day moving average price is $54.38 and its 200-day moving average price is $70.04. Western Digital Corp has a 12-month low of $42.28 and a 12-month high of $111.84.

Western Digital Corp (NYSE:WDC) last issued its earnings results on Thursday, January 28th. The data storage provider reported $1.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.06. The firm earned $3.30 billion during the quarter, compared to analyst estimates of $3.37 billion. The firm’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.26 EPS. Analysts predict that Western Digital Corp will post $5.84 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 15th. Stockholders of record on Friday, January 1st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.17%. The ex-dividend date was Tuesday, December 29th.

In other Western Digital Corp news, EVP Michael Charles Ray sold 1,359 shares of the firm’s stock in a transaction on Tuesday, November 17th. The stock was sold at an average price of $61.58, for a total transaction of $83,687.22. Following the completion of the sale, the executive vice president now owns 21,169 shares of the company’s stock, valued at approximately $1,303,587.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen D. Milligan sold 6,239 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $66.33, for a total value of $413,832.87. Following the sale, the chief executive officer now directly owns 104,659 shares of the company’s stock, valued at approximately $6,942,031.47. The disclosure for this sale can be found here.

A number of large investors have made changes to their positions in WDC. Amerigo Asset Management acquired a new stake in shares of Western Digital Corp during the fourth quarter valued at about $164,461,000. Nexus Investment Management increased its stake in shares of Western Digital Corp by 0.8% in the fourth quarter. Nexus Investment Management now owns 180,825 shares of the data storage provider’s stock valued at $10,858,000 after buying an additional 1,400 shares in the last quarter. Benjamin F. Edwards & Company acquired a new stake in shares of Western Digital Corp during the fourth quarter valued at about $0. Charter Trust Company increased its stake in shares of Western Digital Corp by 25.4% in the fourth quarter. Charter Trust Company now owns 4,486 shares of the data storage provider’s stock valued at $269,000 after buying an additional 910 shares in the last quarter. Finally, Creative Planning increased its stake in shares of Western Digital Corp by 45.4% in the fourth quarter. Creative Planning now owns 14,261 shares of the data storage provider’s stock valued at $856,000 after buying an additional 4,450 shares in the last quarter.

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 Company’s 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 Company’s products are marketed under the HGST, WD and G-Technology brand names.

12 Month Chart for NYSE:WDC

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