Bryce Point Capital LLC acquired a new position in Western Digital Co. (NASDAQ:WDC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 8,548 shares of the data storage provider's stock, valued at approximately $510,000.
Other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc lifted its position in shares of Western Digital by 278.9% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider's stock worth $25,000 after buying an additional 304 shares during the last quarter. Sierra Ocean LLC bought a new position in shares of Western Digital in the fourth quarter worth about $29,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Western Digital in the 4th quarter valued at approximately $30,000. OFI Invest Asset Management bought a new stake in shares of Western Digital during the 4th quarter valued at approximately $36,000. Finally, S.A. Mason LLC acquired a new position in Western Digital during the 4th quarter worth approximately $45,000. Institutional investors own 92.51% of the company's stock.
Analyst Ratings Changes
WDC has been the topic of a number of research analyst reports. Wells Fargo & Company cut their target price on shares of Western Digital from $85.00 to $75.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 25th. UBS Group cut their price objective on Western Digital from $74.00 to $50.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Barclays lowered their target price on Western Digital from $90.00 to $80.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Wedbush reissued an "outperform" rating and set a $95.00 price target on shares of Western Digital in a research note on Monday, February 10th. Finally, Robert W. Baird dropped their price objective on shares of Western Digital from $100.00 to $80.00 and set an "outperform" rating for the company in a report on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, Western Digital presently has a consensus rating of "Moderate Buy" and an average target price of $80.21.
View Our Latest Stock Analysis on Western Digital
Western Digital Trading Up 1.1 %
WDC stock traded up $0.33 during mid-day trading on Tuesday, reaching $31.49. The company's stock had a trading volume of 12,424,812 shares, compared to its average volume of 6,209,384. Western Digital Co. has a 12 month low of $28.83 and a 12 month high of $81.55. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60. The business's 50 day moving average price is $52.04 and its 200 day moving average price is $61.21. The company has a market cap of $10.95 billion, a price-to-earnings ratio of 7.54 and a beta of 1.39.
Western Digital (NASDAQ:WDC - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a net margin of 9.95% and a return on equity of 15.68%. On average, equities research analysts predict that Western Digital Co. will post 4.89 EPS for the current year.
Insider Transactions at Western Digital
In other news, SVP Gene M. Zamiska sold 1,659 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $41.36, for a total transaction of $68,616.24. Following the transaction, the senior vice president now directly owns 43,776 shares of the company's stock, valued at $1,810,575.36. This represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.30% of the company's stock.
About Western Digital
(
Free Report)
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.
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