Tidal Investments LLC Has $2.80 Million Holdings in Western Digital Co. (NASDAQ:WDC)

Tidal Investments LLC lifted its position in shares of Western Digital Co. (NASDAQ:WDC - Free Report) by 123.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,028 shares of the data storage provider's stock after purchasing an additional 22,670 shares during the quarter. Tidal Investments LLC's holdings in Western Digital were worth $2,802,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fairfield Financial Advisors LTD acquired a new position in Western Digital during the 2nd quarter worth approximately $29,000. Eastern Bank acquired a new position in shares of Western Digital during the 3rd quarter worth about $27,000. True Wealth Design LLC grew its holdings in shares of Western Digital by 2,184.2% in 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 in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Western Digital in the second quarter valued at about $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Western Digital during the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 92.51% of the company's stock.

Insider Transactions at Western Digital

In related news, SVP Gene M. Zamiska sold 658 shares of the business's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total value of $46,053.42. Following the transaction, the senior vice president now owns 28,863 shares in the company, valued at $2,020,121.37. The trade was a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert Soderbery sold 30,767 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $68.01, for a total value of $2,092,463.67. Following the sale, the executive vice president now owns 135,398 shares of the company's stock, valued at approximately $9,208,417.98. The trade was a 18.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 184,107 shares of company stock worth $13,042,381. Insiders own 0.30% of the company's stock.

Western Digital Price Performance

Shares of WDC stock traded up $0.18 during trading hours on Monday, reaching $65.30. The company's stock had a trading volume of 5,392,924 shares, compared to its average volume of 6,021,066. 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 fifty-two week low of $48.96 and a fifty-two week high of $81.55. The company has a market capitalization of $22.57 billion, a price-to-earnings ratio of 38.41 and a beta of 1.42. The firm's 50 day simple moving average is $67.64 and its 200-day simple moving average is $68.67.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The data storage provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.55 by $0.23. The business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.12 billion. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The firm's revenue was up 48.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.97) EPS. Sell-side analysts forecast that Western Digital Co. will post 6.56 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on WDC. Susquehanna increased their price objective on Western Digital from $75.00 to $83.00 and gave the company a "neutral" rating in a report on Friday, October 25th. UBS Group decreased their price objective on shares of Western Digital from $74.00 to $72.00 and set a "neutral" rating for the company in a research report on Thursday, October 24th. BNP Paribas cut their target price on shares of Western Digital from $95.00 to $90.00 in a research note on Thursday, October 24th. Barclays lifted their price target on Western Digital from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Finally, Morgan Stanley upped their price objective on Western Digital from $94.00 to $100.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $87.71.

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.