Nisa Investment Advisors LLC Purchases 2,508 Shares of Western Digital Co. (NASDAQ:WDC)

Nisa Investment Advisors LLC lifted its position in shares of Western Digital Co. (NASDAQ:WDC) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,967 shares of the data storage provider’s stock after purchasing an additional 2,508 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Western Digital were worth $6,007,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WDC. Eastern Bank bought a new stake in Western Digital during the 3rd quarter worth approximately $27,000. Fairfield Financial Advisors LTD bought a new stake in shares of Western Digital during the second quarter worth $29,000. Fidelis Capital Partners LLC acquired a new stake in shares of Western Digital during the first quarter worth $30,000. OFI Invest Asset Management bought a new stake in Western Digital in the 2nd quarter valued at $34,000. Finally, 1620 Investment Advisors Inc. acquired a new position in Western Digital in the 2nd quarter worth $34,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Wall Street Analysts Forecast Growth

WDC has been the subject of several recent research reports. Evercore ISI reaffirmed an “outperform” rating and set a $85.00 price objective on shares of Western Digital in a research report on Thursday, August 15th. Summit Insights downgraded Western Digital from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Barclays lifted their price objective on shares of Western Digital from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, October 25th. TD Cowen reduced their target price 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. Finally, BNP Paribas lowered their price target on shares of Western Digital from $95.00 to $90.00 in a research note on Thursday, October 24th. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Western Digital has a consensus rating of “Moderate Buy” and a consensus target price of $87.71.

Western Digital Stock Down 2.6 %

Shares of WDC opened at $65.31 on Friday. The firm has a market cap of $22.58 billion, a P/E ratio of 38.42 and a beta of 1.39. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.47. Western Digital Co. has a 52 week low of $38.43 and a 52 week high of $81.55. The firm’s 50-day simple moving average is $65.66 and its 200 day simple moving average is $69.56.

Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, October 24th. The data storage provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.23. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.12 billion. Western Digital had a return on equity of 8.57% and a net margin of 4.81%. The firm’s quarterly revenue was up 48.9% compared to the same quarter last year. During the same quarter last year, the company earned ($1.97) earnings per share. On average, analysts forecast that Western Digital Co. will post 7.16 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Gene M. Zamiska sold 417 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total value of $27,059.13. Following the completion of the sale, the senior vice president now owns 28,870 shares of the company’s stock, valued at approximately $1,873,374.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO David Goeckeler sold 75,000 shares of Western Digital 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 completion of the sale, the chief executive officer now directly owns 896,630 shares in the company, valued at approximately $63,051,021.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Gene M. Zamiska sold 417 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total value of $27,059.13. Following the sale, the senior vice president now directly owns 28,870 shares in the company, valued at $1,873,374.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 200,715 shares of company stock worth $14,002,914 in the last 90 days. Company insiders own 0.30% of the company’s stock.

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.