Huntington National Bank Has $89,000 Stock Holdings in Western Digital Co. (NASDAQ:WDC)

Huntington National Bank boosted its stake in shares of Western Digital Co. (NASDAQ:WDC) by 67.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,296 shares of the data storage provider’s stock after purchasing an additional 522 shares during the quarter. Huntington National Bank’s holdings in Western Digital were worth $89,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of WDC. Bessemer Group Inc. increased its stake in shares of Western Digital by 28.6% during the first quarter. Bessemer Group Inc. now owns 2,619 shares of the data storage provider’s stock worth $179,000 after purchasing an additional 583 shares during the period. Aigen Investment Management LP grew its holdings in Western Digital by 124.2% in the 3rd quarter. Aigen Investment Management LP now owns 21,412 shares of the data storage provider’s stock valued at $1,462,000 after buying an additional 11,860 shares in the last quarter. KBC Group NV increased its position in Western Digital by 11.2% during the 3rd quarter. KBC Group NV now owns 277,010 shares of the data storage provider’s stock worth $18,917,000 after buying an additional 27,849 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Western Digital by 137.9% during the third quarter. Janney Montgomery Scott LLC now owns 43,575 shares of the data storage provider’s stock worth $2,976,000 after buying an additional 25,262 shares in the last quarter. Finally, Ghisallo Capital Management LLC bought a new stake in shares of Western Digital in the second quarter valued at about $13,260,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Trading Up 2.8 %

Shares of Western Digital stock opened at $64.58 on Tuesday. The firm has a market capitalization of $22.33 billion, a PE ratio of 37.99 and a beta of 1.40. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49. The firm’s 50 day moving average is $66.34 and its 200 day moving average is $69.26. Western Digital Co. has a 1 year low of $46.05 and a 1 year high of $81.55.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, October 24th. The data storage provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.23. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.12 billion. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The company’s revenue for the quarter was up 48.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.97) earnings per share. Equities research analysts forecast that Western Digital Co. will post 6.56 earnings per share for the current fiscal year.

Insider Activity

In other Western Digital news, EVP Robert Soderbery sold 30,767 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $68.01, for a total value of $2,092,463.67. Following the sale, the executive vice president now owns 135,398 shares in the company, valued at approximately $9,208,417.98. The trade was a 18.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $5,274,000.00. Following the transaction, the chief executive officer now owns 896,630 shares of the company’s stock, valued at $63,051,021.60. This trade represents a 7.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 188,561 shares of company stock valued at $13,309,042. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WDC. Susquehanna raised their price target on shares of Western Digital from $75.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Benchmark reaffirmed a “buy” rating and set a $92.00 target price on shares of Western Digital in a report on Friday, October 25th. Evercore ISI reiterated an “outperform” rating and issued a $85.00 price target on shares of Western Digital in a research note on Thursday, August 15th. Morgan Stanley increased their price target on Western Digital from $94.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, UBS Group dropped their price objective on Western Digital from $74.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.71.

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.