Wellington Management Group LLP Has $3.31 Million Stock Position in Western Digital Co. (NASDAQ:WDC)

Wellington Management Group LLP grew its stake in shares of Western Digital Co. (NASDAQ:WDC - Free Report) by 20.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,501 shares of the data storage provider's stock after purchasing an additional 8,217 shares during the quarter. Wellington Management Group LLP's holdings in Western Digital were worth $3,312,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of WDC. Aigen Investment Management LP boosted its position in shares of Western Digital by 124.2% in the 3rd quarter. Aigen Investment Management LP now owns 21,412 shares of the data storage provider's stock valued at $1,462,000 after purchasing an additional 11,860 shares during the period. Avala Global LP lifted its stake in Western Digital by 49.0% in the third quarter. Avala Global LP now owns 1,147,700 shares of the data storage provider's stock valued at $78,376,000 after buying an additional 377,500 shares during the last quarter. Swedbank AB boosted its holdings in shares of Western Digital by 19.7% in the third quarter. Swedbank AB now owns 291,777 shares of the data storage provider's stock valued at $19,925,000 after acquiring an additional 47,965 shares during the period. KBC Group NV boosted its holdings in shares of Western Digital by 11.2% in the third quarter. KBC Group NV now owns 277,010 shares of the data storage provider's stock valued at $18,917,000 after acquiring an additional 27,849 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in shares of Western Digital by 137.9% during the third quarter. Janney Montgomery Scott LLC now owns 43,575 shares of the data storage provider's stock worth $2,976,000 after acquiring an additional 25,262 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company's stock.

Western Digital Stock Down 1.7 %

NASDAQ:WDC traded down $1.10 during mid-day trading on Wednesday, reaching $63.54. The stock had a trading volume of 5,534,506 shares, compared to its average volume of 6,010,456. The stock's 50 day simple moving average is $67.59 and its two-hundred day simple moving average is $68.56. Western Digital Co. has a 1-year low of $48.96 and a 1-year high of $81.55. The company has a market capitalization of $21.97 billion, a price-to-earnings ratio of 37.38 and a beta of 1.42. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.91.

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

Analyst Upgrades and Downgrades

WDC has been the topic of several analyst reports. Rosenblatt Securities reiterated a "buy" rating and issued a $115.00 target price on shares of Western Digital in a research note on Friday, October 25th. Citigroup lowered their target price on shares of Western Digital from $87.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday, December 3rd. The Goldman Sachs Group cut their price target on shares of Western Digital from $79.00 to $72.00 and set a "neutral" rating for the company in a report on Thursday, October 24th. BNP Paribas lowered their price objective on Western Digital from $95.00 to $90.00 in a report on Thursday, October 24th. Finally, Wedbush reissued an "outperform" rating and set a $95.00 target price on shares of Western Digital in a research note on Friday, November 29th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Western Digital currently has an average rating of "Moderate Buy" and an average price target of $87.71.

Insider Activity

In other news, SVP Gene M. Zamiska sold 1,993 shares of the business's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $69.94, for a total transaction of $139,390.42. Following the sale, the senior vice president now directly owns 30,608 shares of the company's stock, valued at $2,140,723.52. The trade was a 6.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Soderbery sold 30,767 shares of the business's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $68.01, for a total transaction of $2,092,463.67. Following the sale, the executive vice president now owns 135,398 shares in the company, valued at $9,208,417.98. This represents a 18.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,107 shares of company stock worth $13,042,381. Corporate insiders own 0.30% of the company's stock.

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.