Toronto Dominion Bank Has $13.22 Million Holdings in Western Digital Co. (NASDAQ:WDC)

Toronto Dominion Bank raised its stake in Western Digital Co. (NASDAQ:WDC) by 55.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,505 shares of the data storage provider’s stock after acquiring an additional 62,211 shares during the period. Toronto Dominion Bank’s holdings in Western Digital were worth $13,222,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Rise Advisors LLC acquired a new stake in Western Digital during the 1st quarter valued at approximately $25,000. Fairfield Financial Advisors LTD bought a new stake in shares of Western Digital during the 2nd quarter valued at about $29,000. Fidelis Capital Partners LLC acquired a new stake in Western Digital during the first quarter worth approximately $30,000. 1620 Investment Advisors Inc. bought a new stake in Western Digital in the second quarter worth approximately $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Western Digital in the second quarter valued at approximately $34,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on WDC. Evercore ISI reiterated an “outperform” rating and issued a $85.00 price objective on shares of Western Digital in a research note on Thursday, August 15th. Mizuho upped their price target on Western Digital from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. StockNews.com raised Western Digital from a “sell” rating to a “hold” rating in a research note on Saturday, July 6th. Wedbush upped 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 lifted their price target on shares of Western Digital from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Western Digital has a consensus rating of “Moderate Buy” and an average target price of $84.24.

Western Digital Stock Performance

WDC stock opened at $69.42 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.32 and a quick ratio of 0.78. Western Digital Co. has a 1 year low of $35.62 and a 1 year high of $81.55. The company has a market cap of $23.84 billion, a P/E ratio of -13.97 and a beta of 1.39. The stock’s fifty day moving average price is $64.09 and its 200-day moving average price is $69.60.

Western Digital (NASDAQ:WDC) last issued its quarterly 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. The business had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. On average, equities analysts forecast that Western Digital Co. will post 7.75 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO David Goeckeler sold 75,000 shares of Western Digital stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $70.32, for a total transaction of $5,274,000.00. Following the transaction, the chief executive officer now owns 896,630 shares in the company, valued at approximately $63,051,021.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Western Digital news, CEO David Goeckeler sold 75,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $70.32, for a total transaction of $5,274,000.00. Following the sale, the chief executive officer now directly owns 896,630 shares of the company’s stock, valued at $63,051,021.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Robert Soderbery sold 12,154 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $7,331,098.17. The disclosure for this sale can be found here. Insiders sold a total of 92,955 shares of company stock worth $6,327,560 over the last three months. 0.28% of the stock is currently owned by company insiders.

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.