Mizuho Securities analyst Vijay Rakesh maintained a Hold rating on Western Digital (WDC) today and set a price target of $47. The company’s shares opened today at $49.15.
According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 20.7% and a 61.4% 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 $54, a 9.9% upside from current levels. In a report issued on March 1, Benchmark Co. also maintained a Hold rating on the stock.
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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 $5.34 billion and had a GAAP net loss of $823 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.
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