Claro Advisors LLC Makes New Investment in Western Digital Co. (NASDAQ:WDC)

Claro Advisors LLC bought a new position in shares of Western Digital Co. (NASDAQ:WDC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,463 shares of the data storage provider’s stock, valued at approximately $262,000.

Other large investors also recently modified their holdings of the company. Hanseatic Management Services Inc. grew its position in shares of Western Digital by 2.3% during the 2nd quarter. Hanseatic Management Services Inc. now owns 10,344 shares of the data storage provider’s stock valued at $784,000 after buying an additional 236 shares during the last quarter. nVerses Capital LLC boosted its stake in Western Digital by 314.3% in the second quarter. nVerses Capital LLC now owns 11,600 shares of the data storage provider’s stock valued at $879,000 after acquiring an additional 8,800 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Western Digital by 460.8% during the second quarter. Farther Finance Advisors LLC now owns 15,735 shares of the data storage provider’s stock valued at $1,202,000 after purchasing an additional 12,929 shares during the last quarter. Van ECK Associates Corp acquired a new stake in shares of Western Digital during the 2nd quarter worth approximately $336,000. Finally, Banque Cantonale Vaudoise raised its position in shares of Western Digital by 28.7% during the 2nd quarter. Banque Cantonale Vaudoise now owns 39,747 shares of the data storage provider’s stock worth $3,011,000 after purchasing an additional 8,852 shares during the period. 92.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WDC shares. Summit Insights downgraded Western Digital from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Benchmark boosted their price target on shares of Western Digital from $85.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Western Digital in a report on Thursday, August 1st. Citigroup boosted their target price on shares of Western Digital from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Finally, Susquehanna decreased their target price on shares of Western Digital from $88.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $84.18.

Insider Activity

In related news, SVP Gene M. Zamiska sold 417 shares of Western Digital stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total value of $27,059.13. Following the transaction, the senior vice president now directly owns 28,870 shares in the company, valued at approximately $1,873,374.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Gene M. Zamiska sold 2,900 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $61.48, for a total transaction of $178,292.00. Following the sale, the senior vice president now owns 37,448 shares in the company, valued at $2,302,303.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Gene M. Zamiska sold 417 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total transaction of $27,059.13. Following the completion of the transaction, the senior vice president now directly owns 28,870 shares of the company’s stock, valued at approximately $1,873,374.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,005 shares of company stock worth $936,251. Insiders own 0.28% of the company’s stock.

Western Digital Price Performance

Shares of Western Digital stock opened at $65.59 on Tuesday. Western Digital Co. has a 52 week low of $35.62 and a 52 week high of $81.55. The company has a current ratio of 1.32, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53. The company’s 50-day moving average price is $68.52 and its two-hundred day moving average price is $68.98. The stock has a market cap of $22.53 billion, a PE ratio of -13.20 and a beta of 1.39.

Western Digital (NASDAQ:WDC) last released its earnings results on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.17. The business had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.77 billion. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. As a group, sell-side analysts anticipate that Western Digital Co. will post 8.73 EPS for the current fiscal year.

Western Digital Company Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.