Carnegie Investment Counsel Sells 1,000 Shares of Western Digital Co. (NASDAQ:WDC)

Carnegie Investment Counsel decreased its position in shares of Western Digital Co. (NASDAQ:WDC) by 20.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,990 shares of the data storage provider’s stock after selling 1,000 shares during the period. Carnegie Investment Counsel’s holdings in Western Digital were worth $272,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of WDC. AGF Management Ltd. lifted its holdings in shares of Western Digital by 28,925.8% during the 2nd quarter. AGF Management Ltd. now owns 2,202,190 shares of the data storage provider’s stock valued at $166,860,000 after purchasing an additional 2,194,603 shares during the last quarter. 1832 Asset Management L.P. increased its position in Western Digital by 247.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,446,509 shares of the data storage provider’s stock valued at $109,602,000 after buying an additional 1,029,658 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Western Digital by 1,089.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,071,600 shares of the data storage provider’s stock valued at $73,126,000 after buying an additional 981,527 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Western Digital by 39.6% in the second quarter. Bank of New York Mellon Corp now owns 2,861,229 shares of the data storage provider’s stock valued at $216,795,000 after buying an additional 810,977 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in Western Digital by 304.9% in the second quarter. Marshall Wace LLP now owns 709,386 shares of the data storage provider’s stock worth $53,750,000 after acquiring an additional 534,168 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Western Digital

In other Western Digital news, EVP Robert Soderbery sold 12,154 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $57.09, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Western Digital 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 transaction of $693,871.86. Following the completion of the sale, the executive vice president now directly owns 128,413 shares in the company, valued at approximately $7,331,098.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Goeckeler sold 75,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $70.32, for a total value of $5,274,000.00. Following the transaction, the chief executive officer now directly owns 896,630 shares of the company’s stock, valued at $63,051,021.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,955 shares of company stock valued at $6,327,560. 0.28% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on WDC shares. Susquehanna decreased their price objective 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. TD Cowen decreased their price target on shares of Western Digital from $95.00 to $80.00 and set a “buy” rating for the company in a report on Friday, September 13th. Citigroup dropped their price objective on shares of Western Digital from $95.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Benchmark restated a “buy” rating and issued a $92.00 target price on shares of Western Digital in a research note on Thursday, September 26th. Finally, Wedbush boosted their price target on Western Digital from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Western Digital currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.24.

Western Digital Trading Up 0.2 %

WDC stock opened at $66.95 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.53. Western Digital Co. has a 52-week low of $35.62 and a 52-week high of $81.55. The company’s 50-day simple moving average is $64.35 and its 200-day simple moving average is $69.90. The firm has a market cap of $21.86 billion, a P/E ratio of -13.47 and a beta of 1.39.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.08 by $0.17. The company had revenue of $3.76 billion for 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%. As a group, equities analysts forecast that Western Digital Co. will post 7.75 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.