Vanguard Personalized Indexing Management LLC Increases Stake in Western Digital Co. (NASDAQ:WDC)

Vanguard Personalized Indexing Management LLC grew its position in Western Digital Co. (NASDAQ:WDC) by 16.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,711 shares of the data storage provider’s stock after acquiring an additional 3,274 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Western Digital were worth $1,754,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in WDC. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Western Digital by 17.1% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,331 shares of the data storage provider’s stock valued at $404,000 after buying an additional 777 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd lifted its holdings in Western Digital by 238.3% in the second quarter. Central Asset Investments & Management Holdings HK Ltd now owns 317,455 shares of the data storage provider’s stock valued at $24,054,000 after acquiring an additional 223,623 shares during the period. E Fund Management Co. Ltd. acquired a new stake in Western Digital in the second quarter valued at $287,000. L & S Advisors Inc purchased a new stake in shares of Western Digital during the 2nd quarter worth $2,881,000. Finally, Virtu Financial LLC acquired a new position in shares of Western Digital during the 2nd quarter worth $1,197,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Trading Up 1.2 %

Shares of Western Digital stock opened at $66.75 on Friday. Western Digital Co. has a fifty-two week low of $35.62 and a fifty-two week high of $81.55. The business’s fifty day moving average is $64.68 and its two-hundred day moving average is $69.49. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.53. The firm has a market cap of $21.80 billion, a PE ratio of -13.43 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 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.77 billion. Analysts anticipate that Western Digital Co. will post 7.75 earnings per share for the current year.

Insider Activity at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 2,169 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $61.96, for a total transaction of $134,391.24. Following the transaction, the senior vice president now owns 32,601 shares of the company’s stock, valued at $2,019,957.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Western Digital news, SVP Gene M. Zamiska sold 2,169 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $61.96, for a total transaction of $134,391.24. Following the completion of the sale, the senior vice president now owns 32,601 shares of the company’s stock, valued at $2,019,957.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Gene M. Zamiska sold 2,900 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $61.48, for a total value of $178,292.00. Following the completion of the transaction, the senior vice president now owns 37,448 shares in the company, valued at $2,302,303.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,955 shares of company stock worth $1,053,560. 0.28% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

WDC has been the topic of a number of research analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $115.00 price objective on shares of Western Digital in a report on Thursday, August 1st. Benchmark boosted their price target on Western Digital from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Summit Insights downgraded Western Digital from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Wedbush boosted their target price on Western Digital from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Finally, Loop Capital raised their price target on Western Digital from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $84.24.

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.