Western Digital Co. (NASDAQ:WDC) Stock Holdings Lifted by Cwm LLC

Cwm LLC raised its position in shares of Western Digital Co. (NASDAQ:WDC) by 63.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,464 shares of the data storage provider’s stock after purchasing an additional 5,974 shares during the period. Cwm LLC’s holdings in Western Digital were worth $1,056,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. HighPoint Advisor Group LLC bought a new position in shares of Western Digital during the 4th quarter valued at $379,000. Los Angeles Capital Management LLC bought a new position in Western Digital during the first quarter valued at about $273,000. GAMMA Investing LLC lifted its position in shares of Western Digital by 31.1% in the first quarter. GAMMA Investing LLC now owns 1,953 shares of the data storage provider’s stock worth $133,000 after buying an additional 463 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Western Digital during the 1st quarter worth about $136,000. Finally, Rise Advisors LLC acquired a new position in shares of Western Digital during the 1st quarter valued at about $25,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Summit Insights cut Western Digital from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $80.00 price objective on shares of Western Digital in a report on Tuesday, September 10th. StockNews.com upgraded shares of Western Digital from a “sell” rating to a “hold” rating in a report on Saturday, July 6th. Wedbush upped their price target on shares of Western Digital from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Finally, Susquehanna lowered their price target on Western Digital from $88.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.24.

Western Digital Price Performance

Shares of WDC stock opened at $67.35 on Friday. The stock’s fifty day simple moving average is $64.75 and its 200 day simple moving average is $69.87. Western Digital Co. has a one year low of $35.62 and a one year high of $81.55. The firm has a market cap of $23.28 billion, a price-to-earnings ratio of -37.01 and a beta of 1.39. 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 (NASDAQ:WDC) last issued its earnings results 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. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. The company had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.77 billion. On average, analysts expect that Western Digital Co. will post 7.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Gene M. Zamiska sold 417 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 28,870 shares of the company’s stock, valued at $1,873,374.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Western Digital news, SVP Gene M. Zamiska sold 417 shares of the stock in a transaction dated Wednesday, August 21st. The shares were 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 of the company’s stock, valued at $1,873,374.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Goeckeler sold 75,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now 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. Over the last ninety days, insiders have sold 92,955 shares of company stock valued at $6,327,560. 0.30% of the stock is currently owned by insiders.

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.