International Assets Investment Management LLC Boosts Position in Western Digital Co. (NASDAQ:WDC)

International Assets Investment Management LLC lifted its position in Western Digital Co. (NASDAQ:WDC - Free Report) by 3,705.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 38,584 shares of the data storage provider's stock after purchasing an additional 37,570 shares during the period. International Assets Investment Management LLC's holdings in Western Digital were worth $2,635,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AGF Management Ltd. lifted its position in Western Digital by 28,925.8% in the 2nd quarter. AGF Management Ltd. now owns 2,202,190 shares of the data storage provider's stock valued at $166,860,000 after acquiring an additional 2,194,603 shares in the last quarter. 1832 Asset Management L.P. lifted its stake in Western Digital by 247.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,446,509 shares of the data storage provider's stock worth $109,602,000 after purchasing an additional 1,029,658 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Western Digital by 1,089.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,071,600 shares of the data storage provider's stock worth $73,126,000 after buying an additional 981,527 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Western Digital by 39.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,861,229 shares of the data storage provider's stock valued at $216,795,000 after buying an additional 810,977 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in Western Digital by 304.9% in the 2nd quarter. Marshall Wace LLP now owns 709,386 shares of the data storage provider's stock worth $53,750,000 after acquiring an additional 534,168 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Robert Soderbery sold 12,154 shares of the business's stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $57.09, for a total value of $693,871.86. Following the sale, the executive vice president now directly owns 128,413 shares in the company, valued at $7,331,098.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Robert Soderbery sold 12,154 shares of Western Digital stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $57.09, for a total transaction of $693,871.86. Following the completion of the sale, the executive vice president now owns 128,413 shares in the company, valued at approximately $7,331,098.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Gene M. Zamiska sold 2,900 shares of the business's stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $61.48, for a total transaction of $178,292.00. Following the completion of the transaction, the senior vice president now directly owns 37,448 shares of the company's stock, valued at approximately $2,302,303.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 200,715 shares of company stock worth $14,002,914. Company insiders own 0.30% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. The Goldman Sachs Group dropped their price target on Western Digital from $79.00 to $72.00 and set a "neutral" rating for the company in a research report on Thursday, October 24th. Citigroup cut their target price on Western Digital from $95.00 to $85.00 and set a "buy" rating on the stock in a research report on Thursday, October 24th. Cantor Fitzgerald raised their price target on Western Digital from $80.00 to $95.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Susquehanna boosted their price objective on shares of Western Digital from $75.00 to $83.00 and gave the company a "neutral" rating in a research report on Friday, October 25th. Finally, Summit Insights lowered shares of Western Digital from a "buy" rating to a "hold" rating in a report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $87.71.

Western Digital Stock Performance

Shares of Western Digital stock traded up $0.57 during trading on Friday, reaching $65.88. The company's stock had a trading volume of 3,824,525 shares, compared to its average volume of 5,591,910. The company has a 50-day moving average price of $65.69 and a two-hundred day moving average price of $69.52. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49. The firm has a market cap of $22.77 billion, a PE ratio of 38.75 and a beta of 1.40. Western Digital Co. has a fifty-two week low of $41.78 and a fifty-two week high of $81.55.

Western Digital (NASDAQ:WDC - Get Free Report) last released its earnings results on Thursday, October 24th. The data storage provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.55 by $0.23. The company had revenue of $4.10 billion during the quarter, compared to analysts' expectations of $4.12 billion. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The business's revenue was up 48.9% on a year-over-year basis. During the same quarter last year, the business earned ($1.97) EPS. On average, analysts forecast that Western Digital Co. will post 6.56 EPS for the current year.

About Western Digital

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.