SVP Gene M. Zamiska Sells Shares in Western Digital Co.

On March 7th, Gene M. Zamiska, the Senior Vice President of Western Digital Co. (NASDAQ:WDC), sold 1,659 shares of the company’s stock. The shares were sold at an average price of $41.36, resulting in a total sale value of $68,616.24. After this transaction, Zamiska now holds a total of 43,776 shares in Western Digital, which are valued at approximately $1,810,575.36. The sale reflects a decrease of 3.65% in his ownership of the company’s stock. This transaction was documented in a filing with the Securities and Exchange Commission (SEC) that is publicly accessible.

Western Digital Stock Performance

On the following Monday, the stock traded down by $1.16 to reach $40.54, with a trading volume of 10,562,520 shares, which is higher than the average volume of 9,386,635 shares. Western Digital's stock has a 52-week low of $39.42 and a high of $61.16. Currently, the company's 50-day moving average stands at $61.27, while the 200-day moving average is $64.37. Western Digital has a market capitalization of $14.10 billion, a price-to-earnings ratio of 9.65, and a beta of 1.42. The company also shows a debt-to-equity ratio of 0.60, a quick ratio of 1.26, and a current ratio of 1.99.

Recently, Western Digital released its earnings results on January 29th, reporting earnings of $1.55 per share for the quarter, which fell short of the consensus estimate of $1.91 by $0.36. The company achieved a return on equity of 15.68% and a net margin of 9.95%. Analysts project that Western Digital will report earnings per share of 4.89 for the current fiscal year.

Institutional Investment Changes

There have been notable changes in institutional investment in Western Digital. For instance, Versant Capital Management Inc increased its position by 278.9% in the fourth quarter, now owning 413 shares worth $25,000 after acquiring an additional 304 shares during that period. Sierra Ocean LLC established a new position in Western Digital worth about $29,000 in the same quarter. True Wealth Design LLC also expanded its holdings by 2,184.2% during the third quarter, possessing 434 shares valued at $30,000 after purchasing 415 additional shares. Overall, institutional investors and hedge funds own approximately 92.51% of the company’s stock.

Analyst Ratings on Western Digital

Several brokerages have recently revised their ratings for Western Digital. For example, Morgan Stanley lowered its price target from $100.00 to $93.00 while maintaining an “overweight” rating on the stock. Bank of America also reduced its target from $89.00 to $80.00 and assigned a “buy” rating. Meanwhile, Wells Fargo adjusted its price target from $85.00 to $75.00, continuing to classify the stock as “overweight.” Currently, six analysts recommend holding the stock, while fifteen recommend buying it, leading to a consensus rating of “Moderate Buy” with an average price target of $81.47.

About Western Digital

Western Digital Corporation develops, manufactures, and sells data storage devices in various regions, including the United States, China, and Europe. The company provides a range of products, such as hard disk drives (HDDs) and solid-state drives (SSDs) intended for personal computers, gaming consoles, and other digital devices.

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