MML Investors Services LLC Has $1.86 Million Stake in Western Digital Co. (NASDAQ:WDC)

MML Investors Services LLC lifted its stake in Western Digital Co. (NASDAQ:WDC - Free Report) by 62.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,282 shares of the data storage provider's stock after purchasing an additional 10,524 shares during the period. MML Investors Services LLC's holdings in Western Digital were worth $1,863,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of WDC. Eastern Bank bought a new stake in shares of Western Digital during the third quarter worth approximately $27,000. Fairfield Financial Advisors LTD bought a new position in shares of Western Digital in the 2nd quarter worth $29,000. True Wealth Design LLC increased its holdings 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 purchasing an additional 415 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in Western Digital in the second quarter valued at about $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Western Digital during the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 92.51% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Western Digital from $94.00 to $100.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Citigroup lowered their price target on Western Digital from $87.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, December 3rd. BNP Paribas cut their price objective on Western Digital from $95.00 to $90.00 in a report on Thursday, October 24th. Benchmark restated a "buy" rating and set a $92.00 target price on shares of Western Digital in a report on Friday, October 25th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $115.00 price target on shares of Western Digital in a research note on Friday, October 25th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $87.71.

Insider Buying and Selling

In other news, EVP Robert Soderbery sold 30,767 shares of Western Digital 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 completion of the transaction, the executive vice president now directly owns 135,398 shares of the company's stock, valued at approximately $9,208,417.98. This trade represents a 18.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Gene M. Zamiska sold 658 shares of the company's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total value of $46,053.42. Following the sale, the senior vice president now owns 28,863 shares in the company, valued at approximately $2,020,121.37. The trade was a 2.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 184,107 shares of company stock worth $13,042,381 in the last ninety days. Company insiders own 0.30% of the company's stock.

Western Digital Stock Performance

Shares of WDC traded down $0.66 during midday trading on Tuesday, reaching $64.64. 3,916,948 shares of the stock were exchanged, compared to its average volume of 6,012,410. The stock's 50 day simple moving average is $67.61 and its 200 day simple moving average is $68.59. Western Digital Co. has a twelve month low of $48.96 and a twelve month high of $81.55. The company has a quick ratio of 0.91, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The company has a market cap of $22.35 billion, a P/E ratio of 38.02 and a beta of 1.42.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly 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 during the quarter, compared to analysts' expectations of $4.12 billion. Western Digital had a return on equity of 8.57% and a net margin of 4.81%. Western Digital's revenue was up 48.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.97) EPS. On average, sell-side analysts expect that Western Digital Co. will post 6.56 earnings per share for the current year.

Western Digital Company 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.