Brighton Jones LLC Invests $267,000 in Western Digital Co. (NASDAQ:WDC)

Brighton Jones LLC acquired a new stake in Western Digital Co. (NASDAQ:WDC) in the second quarter, Holdings Channel reports. The firm acquired 3,527 shares of the data storage provider’s stock, valued at approximately $267,000.

Other large investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC increased its holdings in Western Digital by 47.6% during the 2nd quarter. Intech Investment Management LLC now owns 9,631 shares of the data storage provider’s stock worth $730,000 after purchasing an additional 3,104 shares during the period. Leuthold Group LLC acquired a new position in shares of Western Digital during the second quarter worth about $222,000. XTX Topco Ltd increased its stake in shares of Western Digital by 225.4% during the second quarter. XTX Topco Ltd now owns 43,788 shares of the data storage provider’s stock worth $3,318,000 after buying an additional 30,331 shares during the period. Blair William & Co. IL raised its holdings in Western Digital by 7.7% in the second quarter. Blair William & Co. IL now owns 19,270 shares of the data storage provider’s stock valued at $1,460,000 after acquiring an additional 1,375 shares in the last quarter. Finally, O Brien Greene & Co. Inc lifted its stake in Western Digital by 151.5% in the second quarter. O Brien Greene & Co. Inc now owns 116,786 shares of the data storage provider’s stock worth $8,849,000 after acquiring an additional 70,353 shares during the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Susquehanna reduced their price objective on shares of Western Digital from $88.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Evercore ISI reaffirmed an “outperform” rating and set a $85.00 price target on shares of Western Digital in a report on Thursday, August 15th. Mizuho increased their price objective on Western Digital from $80.00 to $90.00 and gave the company a “buy” rating in a report on Friday, May 31st. Loop Capital boosted their target price on Western Digital from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Finally, Summit Insights downgraded Western Digital from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.24.

Western Digital Price Performance

Western Digital stock opened at $66.75 on Monday. The business has a 50 day simple moving average of $64.68 and a 200-day simple moving average of $69.53. Western Digital Co. has a 12 month low of $35.62 and a 12 month high of $81.55. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.32 and a quick ratio of 0.78. The stock has a market capitalization of $21.80 billion, a PE ratio of -13.43 and a beta of 1.39.

Western Digital (NASDAQ:WDC) last issued its earnings results on Wednesday, July 31st. The data storage provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.17. The business had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.77 billion. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. Equities analysts predict that Western Digital Co. will post 7.75 earnings per share for the current year.

Insiders Place Their Bets

In other Western Digital news, SVP Gene M. Zamiska sold 417 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now owns 28,870 shares in the company, valued at $1,873,374.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Western Digital news, SVP Gene M. Zamiska sold 417 shares of the company’s 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 transaction, the senior vice president now directly owns 28,870 shares in the company, valued at $1,873,374.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Soderbery sold 12,154 shares of Western Digital stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $57.09, for a total transaction of $693,871.86. Following the sale, the executive vice president now owns 128,413 shares of the company’s stock, valued at $7,331,098.17. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,955 shares of company stock worth $1,053,560. Company insiders own 0.28% of the company’s stock.

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.