Western Digital (WDC) Getting Somewhat Critical News Coverage, Analysis Shows

News stories about Western Digital (NASDAQ:WDC) have trended somewhat negative recently, Accern Sentiment reports. The research firm scores the sentiment of media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Western Digital earned a media sentiment score of 0.00 on Accern’s scale. Accern also assigned press coverage about the data storage provider an impact score of 45.4097849549689 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near term.

These are some of the news stories that may have impacted Accern Sentiment Analysis’s scoring:

Western Digital (NASDAQ WDC) traded up $1.45 on Wednesday, hitting $78.56. The stock had a trading volume of 4,598,100 shares, compared to its average volume of 4,170,178. Western Digital has a 52 week low of $61.85 and a 52 week high of $95.77. The firm has a market capitalization of $22,808.10, a PE ratio of 7.74 and a beta of 1.10. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.13 and a current ratio of 2.64.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, October 26th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.01 by $0.55. The company had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.13 billion. Western Digital had a return on equity of 26.48% and a net margin of 7.38%. The business’s revenue was up 9.9% on a year-over-year basis. During the same period last year, the firm posted $1.18 earnings per share. analysts forecast that Western Digital will post 12.01 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.00 dividend on an annualized basis and a yield of 2.55%. Western Digital’s dividend payout ratio is currently 41.75%.

Western Digital declared that its Board of Directors has approved a stock buyback program on Thursday, November 9th that authorizes the company to buyback $2.10 billion in outstanding shares. This buyback authorization authorizes the data storage provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Several brokerages have issued reports on WDC. Jefferies Group reaffirmed a “hold” rating and issued a $90.00 price objective on shares of Western Digital in a research report on Friday, August 18th. Vetr downgraded shares of Western Digital from a “strong-buy” rating to a “buy” rating and set a $95.94 price target for the company. in a research report on Wednesday, August 16th. Summit Redstone restated a “hold” rating on shares of Western Digital in a research note on Wednesday, September 13th. UBS reiterated an “add” rating on shares of Western Digital in a research note on Wednesday, September 20th. Finally, Benchmark reiterated a “buy” rating and issued a $135.00 target price on shares of Western Digital in a research note on Monday, September 25th. Nine research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $114.50.

In other news, Director Henry T. Denero sold 4,097 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $85.97, for a total transaction of $352,219.09. Following the transaction, the director now directly owns 10,834 shares of the company’s stock, valued at $931,398.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew E. Massengill sold 2,677 shares of Western Digital stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $86.53, for a total transaction of $231,640.81. Following the transaction, the director now owns 17,759 shares of the company’s stock, valued at $1,536,686.27. The disclosure for this sale can be found here. Insiders have sold a total of 25,488 shares of company stock worth $2,242,856 over the last ninety days. Company insiders own 0.31% of the company’s stock.

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About Western Digital

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. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions).

Insider Buying and Selling by Quarter for Western Digital (NASDAQ:WDC)

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