New Buy Rating for Western Digital (WDC), the Technology Giant

Rosenblatt Securities analyst Kevin Cassidy maintained a Buy rating on Western Digital today and set a price target of $340.00.

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Cassidy covers the Technology sector, focusing on stocks such as Micron, Nvidia, and Seagate Tech. According to TipRanks, Cassidy has an average return of 27.3% and a 60.24% success rate on recommended stocks.

In a report released on April 13, Citi also maintained a Buy rating on the stock with a $405.00 price target.

Based on Western Digital’s latest earnings release for the quarter ending January 2, the company reported a quarterly revenue of $3.02 billion and a net profit of $1.84 billion. In comparison, last year the company earned a revenue of $4.29 billion and had a net profit of $594 million

Based on the recent corporate insider activity of 112 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WDC in relation to earlier this year. Last month, Vidyadhara K Gubbi, the Chief of Global Operations of WDC sold 8,518.00 shares for a total of $2,174,815.76.