Western Digital Co. (NASDAQ:WDC) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of Western Digital Co. (NASDAQ:WDC) by 27.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 34,118 shares of the data storage provider’s stock after selling 13,179 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Western Digital were worth $2,330,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Fairfield Financial Advisors LTD purchased a new position in Western Digital during the second quarter valued at approximately $29,000. Eastern Bank acquired a new position in shares of Western Digital in the 3rd quarter valued at $27,000. Fidelis Capital Partners LLC acquired a new position in shares of Western Digital in the 1st quarter valued at $30,000. 1620 Investment Advisors Inc. acquired a new position in shares of Western Digital in the 2nd quarter valued at $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Western Digital during the second quarter worth $34,000. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital Price Performance

NASDAQ:WDC opened at $67.02 on Thursday. The stock has a 50 day moving average price of $65.63 and a 200 day moving average price of $69.59. The stock has a market cap of $23.17 billion, a PE ratio of 39.42 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 one year low of $38.43 and a one year high of $81.55.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, October 24th. The data storage provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.55 by $0.23. The business 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 company’s quarterly revenue was up 48.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.97) EPS. Equities research analysts expect that Western Digital Co. will post 7.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Evercore ISI reiterated an “outperform” rating and issued a $85.00 price objective on shares of Western Digital in a research report on Thursday, August 15th. UBS Group reduced their price target on Western Digital from $74.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Cantor Fitzgerald raised their price objective on Western Digital from $80.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Morgan Stanley upped their target price on Western Digital from $94.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Wedbush reissued an “outperform” rating and issued a $95.00 price target on shares of Western Digital in a research note on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.09.

Insider Buying and Selling at Western Digital

In other news, CEO David Goeckeler sold 75,000 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $72.58, for a total value of $5,443,500.00. Following the completion of the sale, the chief executive officer now owns 821,630 shares of the company’s stock, valued at $59,633,905.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Western Digital news, EVP Robert Soderbery sold 12,154 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $57.09, for a total value of $693,871.86. Following the transaction, the executive vice president now owns 128,413 shares of the company’s stock, valued at $7,331,098.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO David Goeckeler sold 75,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $59,633,905.40. This trade 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 ninety days. 0.30% of the stock is 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.