6,845 Shares in Western Digital Co. (NASDAQ:WDC) Acquired by Seelaus Asset Management LLC

Seelaus Asset Management LLC bought a new position in shares of Western Digital Co. (NASDAQ:WDC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,845 shares of the data storage provider's stock, valued at approximately $408,000.

A number of other hedge funds have also added to or reduced their stakes in WDC. Versant Capital Management Inc raised its holdings in shares of Western Digital by 278.9% during 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 period. Eastern Bank purchased a new stake in Western Digital in the 3rd quarter valued at about $27,000. True Wealth Design LLC grew its position in shares of 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 acquiring an additional 415 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Western Digital during the 3rd quarter valued at approximately $41,000. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of Western Digital during the 3rd quarter valued at approximately $42,000. 92.51% of the stock is owned by institutional investors.

Western Digital Stock Down 2.4 %

Western Digital stock traded down $1.64 during midday trading on Wednesday, hitting $67.28. 8,269,489 shares of the company were exchanged, compared to its average volume of 6,689,878. The company's fifty day moving average price is $64.69 and its 200-day moving average price is $65.18. The company has a market cap of $23.40 billion, a PE ratio of 16.02 and a beta of 1.44. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26. Western Digital Co. has a fifty-two week low of $52.77 and a fifty-two week high of $81.55.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (EPS) 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, research analysts predict that Western Digital Co. will post 4.89 EPS for the current fiscal year.

Insider Transactions at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 658 shares of the company's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total value of $46,053.42. Following the transaction, the senior vice president now directly owns 28,863 shares of the company's stock, valued at $2,020,121.37. This represents a 2.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 1,347 shares of company stock valued at $93,027. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WDC. Benchmark downgraded shares of Western Digital from a "buy" rating to a "hold" rating and set a $70.00 price objective for the company. in a report on Thursday, December 19th. Wedbush restated an "outperform" rating and set a $95.00 price objective on shares of Western Digital in a research report on Monday. Cantor Fitzgerald reiterated an "overweight" rating and issued a $95.00 target price on shares of Western Digital in a research report on Monday. Morgan Stanley cut their price target on shares of Western Digital from $100.00 to $93.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Finally, Rosenblatt Securities cut their target price on shares of Western Digital from $115.00 to $95.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $84.42.

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.