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Western Digital (WDC) Gets a Hold Rating from Benchmark Co.


Benchmark Co. analyst Mark Miller maintained a Hold rating on Western Digital (WDC) today. The company’s shares closed on Tuesday at $43.04, close to its 52-week low of $40.58.

Miller observed:

“Western Digital has a 15 TB drive currently in production and a 16 TB drive featuring MAMR technology is currently sampling. Production is expected to ramp next year. A 20 TB drive, featuring multiple energy assist technologies, is planned for 2020.”

According to TipRanks.com, Miller is a top 100 analyst with an average return of 21.0% and a 65.6% success rate. Miller covers the Consumer Goods sector, focusing on stocks such as IPG Photonics Corporation, Axcelis Technologies, and MKS Instruments.

Currently, the analyst consensus on Western Digital is a Moderate Buy with an average price target of $64.88, implying a 50.7% upside from current levels. In a report issued on December 3, RBC Capital also maintained a Hold rating on the stock with a $54 price target.

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Western Digital’s market cap is currently $12.44B and has a P/E ratio of 26.99. The company has a Price to Book ratio of 1.09.

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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.

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