LPL Financial LLC Has $7.77 Million Holdings in Western Digital Co. (NASDAQ:WDC)

LPL Financial LLC lessened its holdings in Western Digital Co. (NASDAQ:WDC - Free Report) by 11.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 130,322 shares of the data storage provider's stock after selling 17,226 shares during the period. LPL Financial LLC's holdings in Western Digital were worth $7,771,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Versant Capital Management Inc boosted its position in Western Digital by 278.9% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider's stock valued at $25,000 after buying an additional 304 shares in the last quarter. Sierra Ocean LLC acquired a new position in Western Digital in the 4th quarter worth about $29,000. Comprehensive Financial Planning Inc. PA bought a new position in Western Digital in the fourth quarter valued at about $30,000. OFI Invest Asset Management acquired a new stake in shares of Western Digital during the fourth quarter valued at about $36,000. Finally, S.A. Mason LLC bought a new stake in shares of Western Digital during the fourth quarter worth about $45,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on WDC. Wells Fargo & Company decreased their price target on shares of Western Digital from $85.00 to $75.00 and set an "overweight" rating for the company in a research report on Tuesday, February 25th. UBS Group lowered their target price on Western Digital from $74.00 to $50.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Susquehanna cut their target price on Western Digital from $83.00 to $72.00 and set a "neutral" rating on the stock in a report on Thursday, January 30th. Rosenblatt Securities decreased their price target on Western Digital from $115.00 to $95.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $95.00 price objective on shares of Western Digital in a research note on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $80.21.

Remove Ads

Western Digital Stock Down 10.6 %

Western Digital stock opened at $30.54 on Friday. 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 firm's fifty day moving average price is $52.70 and its two-hundred day moving average price is $61.48. The firm has a market capitalization of $10.62 billion, a price-to-earnings ratio of 7.27 and a beta of 1.39. Western Digital Co. has a 1-year low of $29.76 and a 1-year high of $81.55.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its quarterly earnings results 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 earnings per share for the current fiscal year.

Insider Activity

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $41.36, for a total value of $68,616.24. Following the completion of the transaction, the senior vice president now owns 43,776 shares in the company, valued at $1,810,575.36. This represents a 3.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is currently owned by corporate 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.

Want to see what other hedge funds are holding WDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Digital Co. (NASDAQ:WDC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.