Farther Finance Advisors LLC Has $209,000 Stock Position in Western Digital Co. (NASDAQ:WDC)

Farther Finance Advisors LLC lessened its stake in shares of Western Digital Co. (NASDAQ:WDC - Free Report) by 80.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,053 shares of the data storage provider's stock after selling 12,682 shares during the period. Farther Finance Advisors LLC's holdings in Western Digital were worth $209,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Eastern Bank acquired a new position in shares of Western Digital during the 3rd quarter worth about $27,000. Fairfield Financial Advisors LTD purchased a new stake in Western Digital during the 2nd quarter valued at about $29,000. OFI Invest Asset Management purchased a new stake in Western Digital during the 2nd quarter valued at about $34,000. 1620 Investment Advisors Inc. purchased a new stake in Western Digital during the 2nd quarter valued at about $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Western Digital in the 2nd quarter valued at approximately $34,000. Institutional investors and hedge funds own 92.51% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on WDC shares. TD Cowen lowered their price objective on shares of Western Digital from $95.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, September 13th. Benchmark reiterated a "buy" rating and issued a $92.00 price objective on shares of Western Digital in a research note on Friday, October 25th. Wedbush reiterated an "outperform" rating and issued a $95.00 price objective on shares of Western Digital in a research note on Friday, October 25th. UBS Group reduced their price objective on shares of Western Digital from $74.00 to $72.00 and set a "neutral" rating for the company in a research note on Thursday, October 24th. Finally, Morgan Stanley raised their price objective on shares of Western Digital from $94.00 to $100.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Western Digital presently has a consensus rating of "Moderate Buy" and an average price target of $87.71.

Insider Transactions at Western Digital

In related news, SVP Gene M. Zamiska sold 417 shares of the company's 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 of the company's stock, valued at approximately $1,873,374.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 stock was sold at an average price of $64.89, for a total value of $27,059.13. Following the transaction, the senior vice president now directly owns 28,870 shares of the company's stock, valued at $1,873,374.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert Soderbery sold 30,767 shares of the company's stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 135,398 shares in the company, valued at approximately $9,208,417.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 188,561 shares of company stock valued at $13,309,042 over the last three months. Company insiders own 0.30% of the company's stock.

Western Digital Price Performance

Shares of Western Digital stock traded down $0.83 during trading on Friday, hitting $69.61. The stock had a trading volume of 3,517,578 shares, compared to its average volume of 5,619,176. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.91. The firm has a market cap of $24.06 billion, a P/E ratio of 40.95 and a beta of 1.40. The business has a fifty day moving average of $66.20 and a two-hundred day moving average of $69.52. Western Digital Co. has a fifty-two week low of $43.58 and a fifty-two week high of $81.55.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The data storage provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.23. The business had revenue of $4.10 billion during 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 revenue was up 48.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.97) earnings per share. On average, sell-side analysts expect that Western Digital Co. will post 6.56 earnings per share for the current fiscal year.

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.