Versor Investments LP Takes Position in Western Digital Co. (NASDAQ:WDC)

Versor Investments LP acquired a new position in shares of Western Digital Co. (NASDAQ:WDC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,148 shares of the data storage provider’s stock, valued at approximately $390,000.

Several other institutional investors have also recently modified their holdings of the stock. Oppenheimer & Co. Inc. acquired a new stake in Western Digital during the first quarter worth approximately $1,242,000. Bessemer Group Inc. lifted its stake in shares of Western Digital by 28.6% during the 1st quarter. Bessemer Group Inc. now owns 2,619 shares of the data storage provider’s stock worth $179,000 after purchasing an additional 583 shares during the period. AGF Management Ltd. acquired a new stake in shares of Western Digital during the fourth quarter worth $480,000. Gerber LLC purchased a new stake in shares of Western Digital in the fourth quarter valued at $567,000. Finally, State Board of Administration of Florida Retirement System grew its position in shares of Western Digital by 6.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 382,071 shares of the data storage provider’s stock valued at $26,073,000 after purchasing an additional 23,781 shares during the period. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Price Performance

WDC opened at $62.61 on Friday. The stock has a market cap of $20.44 billion, a P/E ratio of -12.60 and a beta of 1.39. Western Digital Co. has a 12 month low of $35.62 and a 12 month high of $81.55. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.53. The company has a fifty day simple moving average of $67.71 and a 200 day simple moving average of $68.96.

Western Digital (NASDAQ:WDC) last announced its earnings results on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.08 by $0.17. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. The firm had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.77 billion. On average, research analysts expect that Western Digital Co. will post 8.73 EPS for the current year.

Insider Activity

In other news, EVP Robert Soderbery sold 12,154 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $57.09, for a total transaction of $693,871.86. Following the completion of the transaction, the executive vice president now directly owns 128,413 shares in the company, valued at approximately $7,331,098.17. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Robert Soderbery sold 12,154 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $57.09, for a total value of $693,871.86. Following the completion of the sale, the executive vice president now owns 128,413 shares of the company’s stock, valued at approximately $7,331,098.17. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Gene M. Zamiska sold 2,900 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $61.48, for a total transaction of $178,292.00. Following the completion of the sale, the senior vice president now owns 37,448 shares of the company’s stock, valued at approximately $2,302,303.04. The disclosure for this sale can be found here. Insiders have sold 18,174 shares of company stock worth $1,070,642 over the last ninety days. Insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WDC shares. Wedbush boosted their price target on Western Digital from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Citigroup lifted their price objective on shares of Western Digital from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Summit Insights cut Western Digital from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Rosenblatt Securities reiterated a “buy” rating and set a $115.00 price objective on shares of Western Digital in a research note on Thursday, August 1st. Finally, Benchmark increased their target price on Western Digital from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $84.18.

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.