International Assets Investment Management LLC Acquires 37,570 Shares of Western Digital Co. (NASDAQ:WDC)

International Assets Investment Management LLC raised its holdings in Western Digital Co. (NASDAQ:WDC) by 3,705.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,584 shares of the data storage provider’s stock after purchasing an additional 37,570 shares during the period. International Assets Investment Management LLC’s holdings in Western Digital were worth $2,635,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Fairfield Financial Advisors LTD bought a new stake in shares of Western Digital during the 2nd quarter worth approximately $29,000. Eastern Bank bought a new stake in shares of Western Digital during the 3rd quarter worth approximately $27,000. Fidelis Capital Partners LLC bought a new stake in shares of Western Digital during the 1st quarter worth approximately $30,000. 1620 Investment Advisors Inc. bought a new stake in shares of Western Digital during the 2nd quarter worth approximately $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Western Digital during the 2nd quarter worth approximately $34,000. Institutional investors own 92.51% of the company’s stock.

Insider Transactions at Western Digital

In other news, CEO David Goeckeler sold 75,000 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 896,630 shares in the company, valued at $63,051,021.60. 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 the SEC website. In related news, CEO David Goeckeler sold 75,000 shares of the stock in a transaction on 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 of the company’s stock, valued at $63,051,021.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $27,059.13. Following the transaction, the senior vice president now directly owns 28,870 shares in the company, valued at approximately $1,873,374.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,715 shares of company stock worth $14,002,914 over the last three months. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

WDC has been the subject of a number of recent analyst reports. TD Cowen cut their price target 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. Morgan Stanley upped their price target on shares of Western Digital from $94.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. The Goldman Sachs Group lowered their price objective on shares of Western Digital from $79.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Evercore ISI reiterated an “outperform” rating and set a $85.00 price objective on shares of Western Digital in a research report on Thursday, August 15th. Finally, 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. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.71.

Western Digital Trading Up 0.9 %

Shares of NASDAQ WDC opened at $65.88 on Friday. 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 52-week low of $41.78 and a 52-week high of $81.55. The firm has a 50 day moving average price of $65.69 and a two-hundred day moving average price of $69.53. The stock has a market cap of $22.77 billion, a P/E ratio of 38.75 and a beta of 1.40.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, October 24th. The data storage provider reported $1.78 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $4.12 billion. During the same period in the prior year, the company posted ($1.97) earnings per share. Western Digital’s revenue for the quarter was up 48.9% compared to the same quarter last year. As a group, equities analysts forecast that Western Digital Co. will post 6.56 EPS for the current year.

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.