Quantinno Capital Management LP boosted its holdings in Western Digital Co. (NASDAQ:WDC - Free Report) by 68.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,570 shares of the data storage provider's stock after acquiring an additional 8,378 shares during the quarter. Quantinno Capital Management LP's holdings in Western Digital were worth $1,405,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Fairfield Financial Advisors LTD purchased a new position in shares of Western Digital during the second quarter valued at approximately $29,000. Eastern Bank purchased a new stake in Western Digital during the 3rd quarter valued at $27,000. True Wealth Design LLC raised its stake in Western Digital by 2,184.2% during the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider's stock valued at $30,000 after buying an additional 415 shares during the last quarter. 1620 Investment Advisors Inc. bought a new position in shares of Western Digital during the 2nd quarter valued at $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Western Digital in the 2nd quarter worth $34,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts recently commented on WDC shares. Citigroup reduced their price objective on Western Digital from $87.00 to $85.00 and set a "buy" rating for the company in a research report on Tuesday, December 3rd. The Goldman Sachs Group decreased their price target on shares of Western Digital from $79.00 to $72.00 and set a "neutral" rating on the stock in a research report on Thursday, October 24th. Barclays upped their price objective on Western Digital from $80.00 to $90.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Morgan Stanley lifted their target price on Western Digital from $94.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $115.00 price target on shares of Western Digital in a research report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.71.
Read Our Latest Stock Analysis on Western Digital
Insider Activity
In other news, SVP Gene M. Zamiska sold 658 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total value of $46,053.42. Following the completion of the sale, the senior vice president now directly owns 28,863 shares of the company's stock, valued at $2,020,121.37. This trade represents a 2.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David Goeckeler sold 75,000 shares of the business's stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $72.58, for a total value of $5,443,500.00. Following the transaction, the chief executive officer now directly owns 821,630 shares in the company, valued at approximately $59,633,905.40. This represents a 8.36 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 184,107 shares of company stock worth $13,042,381. 0.30% of the stock is currently owned by insiders.
Western Digital Price Performance
WDC stock traded down $0.87 during mid-day trading on Friday, hitting $65.12. The company had a trading volume of 7,996,631 shares, compared to its average volume of 6,023,671. The company has a market capitalization of $22.51 billion, a price-to-earnings ratio of 38.31 and a beta of 1.42. The company has a 50-day moving average price of $67.67 and a 200 day moving average price of $68.85. The company has a quick ratio of 0.91, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. Western Digital Co. has a 12-month low of $48.96 and a 12-month high of $81.55.
Western Digital (NASDAQ:WDC - Get Free Report) last posted its earnings results on Thursday, October 24th. The data storage provider reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.23. The company 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 firm's revenue for the quarter was up 48.9% on a year-over-year basis. During the same period in the previous year, the business earned ($1.97) earnings per share. On average, research analysts anticipate that Western Digital Co. will post 6.56 earnings per share for the current year.
Western Digital Company Profile
(
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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