Dynamic Advisor Solutions LLC Sells 687 Shares of Western Digital Co. (NASDAQ:WDC)

Dynamic Advisor Solutions LLC decreased its holdings in Western Digital Co. (NASDAQ:WDC) by 15.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,889 shares of the data storage provider’s stock after selling 687 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Western Digital were worth $266,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Rise Advisors LLC bought a new position in Western Digital during the 1st quarter valued at about $25,000. Fairfield Financial Advisors LTD purchased a new stake in Western Digital in the second quarter worth $29,000. Fidelis Capital Partners LLC bought a new stake in shares of Western Digital during the first quarter worth $30,000. SOA Wealth Advisors LLC. purchased a new stake in shares of Western Digital during the first quarter valued at $31,000. Finally, OFI Invest Asset Management bought a new position in shares of Western Digital in the second quarter worth about $34,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital Trading Up 1.3 %

Shares of Western Digital stock opened at $64.88 on Monday. Western Digital Co. has a 12-month low of $35.62 and a 12-month high of $81.55. The firm’s 50 day simple moving average is $63.96 and its two-hundred day simple moving average is $69.92. 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 firm has a market capitalization of $22.43 billion, a price-to-earnings ratio of -35.65 and a beta of 1.39.

Western Digital (NASDAQ:WDC) last issued its earnings results on Wednesday, July 31st. The data storage provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.17. The company had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.77 billion. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.75%. Analysts predict that Western Digital Co. will post 7.75 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. StockNews.com upgraded shares of Western Digital from a “sell” rating to a “hold” rating in a research note on Saturday, July 6th. Citigroup dropped their price objective on Western Digital from $95.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Summit Insights lowered Western Digital from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Evercore ISI reissued an “outperform” rating and set a $85.00 price target on shares of Western Digital in a research report on Thursday, August 15th. Finally, Susquehanna decreased their price objective on Western Digital from $88.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $84.24.

Insider Buying and Selling

In other Western Digital news, CEO David Goeckeler sold 75,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 896,630 shares of the company’s stock, valued at approximately $63,051,021.60. This trade represents a 0.00 % decrease in their position. 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 Western Digital 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 completion of the transaction, the chief executive officer now owns 896,630 shares in the company, valued at approximately $63,051,021.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Gene M. Zamiska sold 2,169 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $61.96, for a total value of $134,391.24. Following the completion of the sale, the senior vice president now owns 32,601 shares in the company, valued at approximately $2,019,957.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,955 shares of company stock valued at $6,327,560 over the last quarter. 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.