Crossmark Global Holdings Inc. Has $16.16 Million Stake in Western Digital Co. (NASDAQ:WDC)

Crossmark Global Holdings Inc. lifted its holdings in Western Digital Co. (NASDAQ:WDC - Free Report) by 6.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 236,672 shares of the data storage provider's stock after buying an additional 14,379 shares during the quarter. Crossmark Global Holdings Inc. owned about 0.07% of Western Digital worth $16,162,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WDC. Eastern Bank acquired a new position in shares of Western Digital during the third quarter valued at $27,000. Fairfield Financial Advisors LTD acquired a new stake in shares of Western Digital during the 2nd quarter worth approximately $29,000. OFI Invest Asset Management acquired a new stake in shares of Western Digital during the 2nd quarter worth approximately $34,000. 1620 Investment Advisors Inc. bought a new stake in shares of Western Digital during the second quarter worth approximately $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Western Digital in the second quarter valued at about $34,000. Institutional investors and hedge funds own 92.51% of the company's stock.

Wall Street Analysts Forecast Growth

WDC has been the topic of several recent analyst reports. Citigroup reduced their price objective on shares of Western Digital from $95.00 to $85.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. Susquehanna raised their target price on shares of Western Digital from $75.00 to $83.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. UBS Group reduced their price target on shares of Western Digital from $74.00 to $72.00 and set a "neutral" rating for the company in a report on Thursday, October 24th. 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. Finally, Cantor Fitzgerald boosted their price target on Western Digital from $80.00 to $95.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $87.71.

Western Digital Stock Performance

WDC stock traded down $0.83 during trading hours on Friday, hitting $69.61. 3,517,578 shares of the stock were exchanged, compared to its average volume of 5,619,176. The company has a 50-day simple moving average of $66.20 and a two-hundred day simple moving average of $69.52. The firm has a market capitalization of $24.06 billion, a P/E ratio of 40.95 and a beta of 1.40. Western Digital Co. has a 12 month low of $43.58 and a 12 month high of $81.55. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49.

Western Digital (NASDAQ:WDC - Get Free Report) last issued 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 business had revenue of $4.10 billion during the quarter, compared to analysts' expectations of $4.12 billion. During the same quarter in the previous year, the company earned ($1.97) EPS. The business's revenue was up 48.9% on a year-over-year basis. On average, analysts forecast that Western Digital Co. will post 6.56 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Robert Soderbery sold 30,767 shares of the firm's stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $68.01, for a total value of $2,092,463.67. Following the transaction, the executive vice president now owns 135,398 shares in the company, valued at approximately $9,208,417.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Western Digital news, CEO David Goeckeler sold 75,000 shares of the company's stock in a transaction on Thursday, September 26th. The stock was 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Soderbery sold 30,767 shares of Western Digital stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $68.01, for a total value of $2,092,463.67. Following the completion of the transaction, the executive vice president now owns 135,398 shares in the company, valued at approximately $9,208,417.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 188,561 shares of company stock worth $13,309,042. 0.30% of the stock is currently owned by company 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.