SteelPeak Wealth LLC Acquires 13,624 Shares of Western Digital Co. (NASDAQ:WDC)

SteelPeak Wealth LLC grew its holdings in Western Digital Co. (NASDAQ:WDC - Free Report) by 434.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,760 shares of the data storage provider's stock after purchasing an additional 13,624 shares during the quarter. SteelPeak Wealth LLC's holdings in Western Digital were worth $1,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Western Digital by 8.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 822,281 shares of the data storage provider's stock worth $56,112,000 after buying an additional 64,980 shares during the period. First Trust Direct Indexing L.P. raised its stake in Western Digital by 14.9% during the 1st quarter. First Trust Direct Indexing L.P. now owns 5,688 shares of the data storage provider's stock worth $388,000 after buying an additional 737 shares during the period. Sequoia Financial Advisors LLC acquired a new position in Western Digital during the 1st quarter worth approximately $236,000. Janney Montgomery Scott LLC raised its stake in Western Digital by 19.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 18,717 shares of the data storage provider's stock worth $1,277,000 after buying an additional 3,094 shares during the period. Finally, Wakefield Asset Management LLLP acquired a new position in Western Digital during the 1st quarter worth approximately $2,209,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, 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 value of $27,059.13. Following the sale, the senior vice president now owns 28,870 shares in the company, valued at approximately $1,873,374.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, 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 value of $27,059.13. Following the sale, the senior vice president now owns 28,870 shares in the company, valued at approximately $1,873,374.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Robert Soderbery sold 12,154 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $57.09, for a total value of $693,871.86. Following the completion of the transaction, the executive vice president now directly owns 128,413 shares in the company, valued at approximately $7,331,098.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 200,715 shares of company stock worth $14,002,914. Corporate insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

WDC has been the subject of a number of recent research reports. Susquehanna boosted their price objective on Western Digital from $75.00 to $83.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. StockNews.com raised Western Digital from a "sell" rating to a "hold" rating in a report on Saturday, July 6th. Cantor Fitzgerald boosted their price objective on Western Digital from $80.00 to $95.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Benchmark reaffirmed a "buy" rating and issued a $92.00 target price on shares of Western Digital in a report on Friday, October 25th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $115.00 target price on shares of Western Digital in a report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $86.09.

Western Digital Stock Performance

Shares of NASDAQ:WDC traded down $1.71 during trading on Thursday, hitting $65.31. 4,571,511 shares of the company were exchanged, compared to its average volume of 6,173,312. The company has a market cap of $22.58 billion, a PE ratio of 38.42 and a beta of 1.39. The stock has a 50 day moving average of $65.66 and a 200 day moving average of $69.56. Western Digital Co. has a 52-week low of $38.43 and a 52-week high of $81.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.91.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its earnings results on Thursday, October 24th. The data storage provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.23. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.12 billion. Western Digital had a return on equity of 8.57% and a net margin of 4.81%. The business's quarterly revenue was up 48.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.97) earnings per share. As a group, equities research analysts predict that Western Digital Co. will post 7.16 EPS for the current 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.