In a report released today, Mehdi Hosseini from Susquehanna reiterated a Hold rating on Western Digital (WDC), with a price target of $35. The company’s shares closed on Friday at $36.33, close to its 52-week low of $33.83.
According to TipRanks.com, Hosseini is a 4-star analyst with an average return of 9.7% and a 47.4% success rate. Hosseini covers the Consumer Goods sector, focusing on stocks such as Advanced Energy Industries, Hewlett Packard Enterprise, and Applied Materials Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Western Digital with a $55.75 average price target, a 53.5% upside from current levels. In a report issued on June 7, Cleveland Research also initiated coverage with a Hold rating on the stock.
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Based on Western Digital’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.67 billion and GAAP net loss of $581 million. In comparison, last year the company earned revenue of $5.01 billion and had a net profit of $61 million.
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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.
