Czech National Bank Increases Holdings in Western Digital Co. (NASDAQ:WDC)

Czech National Bank lifted its position in shares of Western Digital Co. (NASDAQ:WDC) by 0.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,050 shares of the data storage provider’s stock after acquiring an additional 261 shares during the quarter. Czech National Bank’s holdings in Western Digital were worth $3,893,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Signaturefd LLC boosted its stake in shares of Western Digital by 10.9% during the 4th quarter. Signaturefd LLC now owns 2,577 shares of the data storage provider’s stock worth $135,000 after acquiring an additional 254 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Western Digital by 79.1% during the 3rd quarter. Parkside Financial Bank & Trust now owns 747 shares of the data storage provider’s stock worth $34,000 after acquiring an additional 330 shares in the last quarter. Lindbrook Capital LLC boosted its stake in shares of Western Digital by 121.7% during the 4th quarter. Lindbrook Capital LLC now owns 614 shares of the data storage provider’s stock worth $32,000 after acquiring an additional 337 shares in the last quarter. Natixis Advisors L.P. lifted its stake in Western Digital by 0.9% in the 3rd quarter. Natixis Advisors L.P. now owns 37,156 shares of the data storage provider’s stock valued at $1,695,000 after buying an additional 338 shares in the last quarter. Finally, Wahed Invest LLC lifted its stake in Western Digital by 7.3% in the 3rd quarter. Wahed Invest LLC now owns 5,010 shares of the data storage provider’s stock valued at $229,000 after buying an additional 340 shares in the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital Trading Down 0.7 %

WDC stock opened at $75.77 on Friday. The company has a market cap of $24.74 billion, a price-to-earnings ratio of -15.25 and a beta of 1.45. The company has a quick ratio of 1.07, a current ratio of 1.86 and a debt-to-equity ratio of 0.72. The business has a fifty day simple moving average of $73.58 and a 200-day simple moving average of $63.30. Western Digital Co. has a 52 week low of $35.62 and a 52 week high of $81.55.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, April 25th. The data storage provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.42. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.37 billion. Western Digital had a negative return on equity of 13.75% and a negative net margin of 12.87%. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.57) EPS. On average, equities research analysts expect that Western Digital Co. will post -1.44 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Argus upped their target price on Western Digital from $68.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Citigroup assumed coverage on Western Digital in a research note on Tuesday, May 14th. They issued a “buy” rating and a $90.00 target price on the stock. Mizuho upped their target price on Western Digital from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, May 31st. StockNews.com raised Western Digital from a “sell” rating to a “hold” rating in a research note on Tuesday, June 4th. Finally, Loop Capital upped their target price on Western Digital from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Six analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $82.09.

Insider Activity at Western Digital

In related news, SVP Gene M. Zamiska sold 443 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $75.00, for a total value of $33,225.00. Following the completion of the sale, the senior vice president now directly owns 30,958 shares in the company, valued at approximately $2,321,850. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Gene M. Zamiska sold 443 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $75.00, for a total value of $33,225.00. Following the completion of the sale, the senior vice president now directly owns 30,958 shares in the company, valued at approximately $2,321,850. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kimberly Alexy sold 2,648 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $69.95, for a total value of $185,227.60. Following the completion of the sale, the director now owns 20,509 shares of the company’s stock, valued at $1,434,604.55. The disclosure for this sale can be found here. In the last three months, insiders sold 30,579 shares of company stock worth $2,238,595. Corporate insiders own 0.28% of the company’s stock.

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.