Caprock Group LLC Has $643,000 Holdings in Western Digital Co. (NASDAQ:WDC)

Caprock Group LLC increased its stake in shares of Western Digital Co. (NASDAQ:WDC) by 114.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,481 shares of the data storage provider’s stock after acquiring an additional 4,525 shares during the quarter. Caprock Group LLC’s holdings in Western Digital were worth $643,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Rise Advisors LLC bought a new stake in shares of Western Digital during the first quarter valued at approximately $25,000. Fidelis Capital Partners LLC acquired a new position in shares of Western Digital in the 1st quarter valued at $30,000. 1620 Investment Advisors Inc. bought a new position in shares of Western Digital during the 2nd quarter worth about $34,000. SOA Wealth Advisors LLC. acquired a new stake in shares of Western Digital during the 1st quarter valued at about $31,000. Finally, OFI Invest Asset Management bought a new stake in Western Digital in the second quarter valued at about $34,000. 92.51% of the stock is owned by institutional investors.

Western Digital Stock Performance

Shares of Western Digital stock opened at $63.31 on Thursday. Western Digital Co. has a 52 week low of $35.62 and a 52 week high of $81.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 1.32. The stock has a market capitalization of $21.74 billion, a price-to-earnings ratio of -12.74 and a beta of 1.39. The firm has a fifty day moving average of $66.54 and a two-hundred day moving average of $69.27.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.17. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.75%. The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.77 billion. As a group, equities research analysts predict that Western Digital Co. will post 7.75 EPS for the current year.

Insider Activity at Western Digital

In other news, SVP Gene M. Zamiska sold 417 shares of Western Digital stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total transaction of $27,059.13. Following the transaction, the senior vice president now directly owns 28,870 shares of the company’s stock, valued at $1,873,374.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Robert Soderbery sold 12,154 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $57.09, for a total value of $693,871.86. Following the completion of the transaction, the executive vice president now directly owns 128,413 shares in the company, valued at approximately $7,331,098.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the senior vice president now owns 28,870 shares in the company, valued at $1,873,374.30. The disclosure for this sale can be found here. Insiders have sold 18,174 shares of company stock worth $1,070,642 in the last ninety days. Company insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on WDC shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $80.00 price objective on shares of Western Digital in a report on Tuesday. Wedbush increased their price objective on Western Digital from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Benchmark upped their target price on shares of Western Digital from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Susquehanna cut their price target on shares of Western Digital from $88.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $115.00 price objective on shares of Western Digital in a research note on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.82.

Western Digital 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.