Proficio Capital Partners LLC purchased a new stake in Western Digital Co. (NASDAQ:WDC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 59,391 shares of the data storage provider's stock, valued at approximately $3,541,000.
Several other institutional investors and hedge funds have also made changes to their positions in WDC. Versant Capital Management Inc increased its stake 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 purchasing an additional 304 shares during the last quarter. Sierra Ocean LLC purchased a new stake in Western Digital in the fourth quarter valued at $29,000. True Wealth Design LLC lifted its position in Western Digital by 2,184.2% in the third quarter. True Wealth Design LLC now owns 434 shares of the data storage provider's stock valued at $30,000 after acquiring an additional 415 shares during the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in Western Digital in the fourth quarter valued at $30,000. Finally, Brooklyn Investment Group purchased a new position in shares of Western Digital during the third quarter worth about $45,000. 92.51% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts recently issued reports on the company. Citigroup raised their price target on Western Digital from $60.45 to $64.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Mizuho cut their target price on shares of Western Digital from $90.00 to $82.00 and set an "outperform" rating on the stock in a report on Friday, January 3rd. The Goldman Sachs Group raised their price objective on shares of Western Digital from $70.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Cantor Fitzgerald lowered their price target on Western Digital from $95.00 to $65.00 and set an "overweight" rating on the stock in a report on Friday, March 7th. Finally, Wedbush reaffirmed an "outperform" rating and set a $95.00 price objective on shares of Western Digital in a research report on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Western Digital has a consensus rating of "Moderate Buy" and a consensus price target of $80.21.
Check Out Our Latest Stock Analysis on Western Digital
Western Digital Price Performance
NASDAQ:WDC traded down $0.85 during mid-day trading on Friday, hitting $43.66. 7,640,459 shares of the company's stock traded hands, compared to its average volume of 5,982,052. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99. The company has a market cap of $15.19 billion, a PE ratio of 10.40 and a beta of 1.42. The firm's 50 day simple moving average is $58.19 and its 200 day simple moving average is $63.26. Western Digital Co. has a 1 year low of $39.42 and a 1 year high of $81.55.
Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share for the quarter, missing analysts' consensus estimates of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. Sell-side analysts expect that Western Digital Co. will post 4.89 EPS for the current year.
Insider Transactions at Western Digital
In other news, SVP Gene M. Zamiska sold 1,659 shares of Western Digital stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $41.36, for a total transaction of $68,616.24. Following the completion of the sale, the senior vice president now directly owns 43,776 shares in the company, valued at $1,810,575.36. The trade was a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.30% of the company's stock.
About Western Digital
(
Free Report)
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.
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