Western Digital (WDC) Receives a Rating Update from a Top Analyst

Mizuho Securities analyst Vijay Rakesh maintained a Buy rating on Western Digital (WDCResearch Report) today and set a price target of $180. The company’s shares closed yesterday at $51.86.

According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 22.2% and a 64.0% success rate. Rakesh covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Synaptics Inc.

Western Digital has an analyst consensus of Moderate Buy, with a price target consensus of $56.27, which is an 8.5% upside from current levels. In a report issued on April 9, RBC Capital also maintained a Buy rating on the stock with a $60 price target.

See today’s analyst top recommended stocks >>

Based on Western Digital’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $4.23 billion and GAAP net loss of $487 million. In comparison, last year the company earned revenue of $5.01 billion and had a net profit of $61 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Western Digital Corp. engages in the manufacture, market, and sale of data storage devices and solutions. Its product portfolio includes hard disk drives, solid-state drives marketed under the HGST, WD and G-Technology brands.