Western Digital Co. (NASDAQ:WDC) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC boosted its stake in shares of Western Digital Co. (NASDAQ:WDC) by 7.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 7,095 shares of the data storage provider’s stock after purchasing an additional 509 shares during the quarter. GAMMA Investing LLC’s holdings in Western Digital were worth $423,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. State Street Corp increased its holdings in shares of Western Digital by 3.2% during the 3rd quarter. State Street Corp now owns 13,572,686 shares of the data storage provider’s stock valued at $926,879,000 after purchasing an additional 423,651 shares in the last quarter. Geode Capital Management LLC increased its holdings in Western Digital by 1.0% in the third quarter. Geode Capital Management LLC now owns 7,921,608 shares of the data storage provider’s stock valued at $539,355,000 after buying an additional 76,781 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Western Digital by 24.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,711,428 shares of the data storage provider’s stock worth $253,453,000 after acquiring an additional 732,344 shares during the period. Maple Rock Capital Partners Inc. boosted its stake in shares of Western Digital by 13.2% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 3,287,400 shares of the data storage provider’s stock worth $224,497,000 after acquiring an additional 383,390 shares in the last quarter. Finally, Holocene Advisors LP grew its position in shares of Western Digital by 25.7% during the 3rd quarter. Holocene Advisors LP now owns 3,192,762 shares of the data storage provider’s stock valued at $218,034,000 after acquiring an additional 651,847 shares during the period. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital Stock Up 3.6 %

Shares of NASDAQ WDC opened at $64.07 on Monday. The company has a market capitalization of $22.15 billion, a P/E ratio of 37.69 and a beta of 1.42. 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 company has a 50 day simple moving average of $66.19 and a 200-day simple moving average of $67.10. Western Digital Co. has a 1 year low of $48.96 and a 1 year high of $81.55.

Western Digital (NASDAQ:WDC) last posted its earnings results on Thursday, October 24th. The data storage provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.23. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.12 billion. Western Digital had a return on equity of 8.57% and a net margin of 4.81%. The company’s revenue for the quarter was up 48.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.97) earnings per share. On average, equities research analysts predict that Western Digital Co. will post 6.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on WDC shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $95.00 price target on shares of Western Digital in a research report on Tuesday, November 26th. TD Cowen dropped their price target on shares of Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Barclays upped their price objective on shares of Western Digital from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Susquehanna lifted their target price on shares of Western Digital from $75.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Finally, Benchmark downgraded shares of Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price target for the company. in a research report on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Western Digital has an average rating of “Moderate Buy” and an average price target of $85.95.

Insider Buying and Selling at Western Digital

In other Western Digital news, CEO David Goeckeler sold 75,000 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $72.58, for a total transaction of $5,443,500.00. Following the transaction, the chief executive officer now directly owns 821,630 shares in the company, valued at $59,633,905.40. This represents a 8.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Gene M. Zamiska sold 658 shares of Western Digital stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total value of $46,053.42. Following the completion of the sale, the senior vice president now directly owns 28,863 shares of the company’s stock, valued at $2,020,121.37. The trade was a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,107 shares of company stock valued at $7,768,381 over the last 90 days. 0.30% of the stock is 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.