Western Digital Co. (NASDAQ:WDC) Shares Bought by D.A. Davidson & CO.

D.A. Davidson & CO. raised its holdings in Western Digital Co. (NASDAQ:WDC) by 19.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,235 shares of the data storage provider’s stock after acquiring an additional 1,000 shares during the quarter. D.A. Davidson & CO.’s holdings in Western Digital were worth $426,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. B. Riley Wealth Advisors Inc. raised its position in Western Digital by 6.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 4,401 shares of the data storage provider’s stock valued at $300,000 after acquiring an additional 280 shares in the last quarter. Tidal Investments LLC lifted its holdings in Western Digital by 25.4% during the 1st quarter. Tidal Investments LLC now owns 4,916 shares of the data storage provider’s stock valued at $335,000 after purchasing an additional 997 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Western Digital by 15.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,527 shares of the data storage provider’s stock worth $116,000 after buying an additional 206 shares in the last quarter. Mather Group LLC. boosted its position in Western Digital by 10.7% in the 2nd quarter. Mather Group LLC. now owns 2,203 shares of the data storage provider’s stock valued at $167,000 after buying an additional 213 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new position in shares of Western Digital in the 2nd quarter valued at about $710,000. 92.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wedbush restated an “outperform” rating and issued a $95.00 price target on shares of Western Digital in a report on Friday, November 29th. Citigroup reduced their target price on shares of Western Digital from $87.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $95.00 price target on shares of Western Digital in a research report on Tuesday, November 26th. BNP Paribas reduced their price objective on Western Digital from $95.00 to $90.00 in a research note on Thursday, October 24th. Finally, TD Cowen dropped their price objective 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. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $87.71.

Western Digital Stock Performance

Western Digital stock opened at $71.69 on Wednesday. Western Digital Co. has a 1-year low of $46.47 and a 1-year high of $81.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.91. The firm has a market capitalization of $24.78 billion, a P/E ratio of 43.19 and a beta of 1.42. The company’s 50-day moving average is $67.25 and its 200 day moving average is $69.04.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data 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. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The company had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period in the prior year, the firm earned ($1.97) earnings per share. The firm’s revenue for the quarter was up 48.9% compared to the same quarter last year. Research analysts forecast that Western Digital Co. will post 6.56 EPS for the current year.

Insider Transactions at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 1,993 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $69.94, for a total value of $139,390.42. Following the completion of the sale, the senior vice president now owns 30,608 shares in the company, valued at approximately $2,140,723.52. This represents a 6.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Goeckeler sold 75,000 shares of the business’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 transaction, the chief executive officer now directly owns 896,630 shares in the company, valued at approximately $63,051,021.60. The trade was a 7.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 184,107 shares of company stock worth $13,042,381 over the last three months. 0.30% of the stock is currently owned by 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.