Ashton Thomas Private Wealth LLC Buys New Stake in Western Digital Co. (NASDAQ:WDC)

Ashton Thomas Private Wealth LLC acquired a new stake in Western Digital Co. (NASDAQ:WDC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 449 shares of the data storage provider’s stock, valued at approximately $34,000.

A number of other large investors have also recently bought and sold shares of WDC. Rise Advisors LLC purchased a new stake in shares of Western Digital during the first quarter worth approximately $25,000. Fidelis Capital Partners LLC purchased a new position in Western Digital in the first quarter worth $30,000. SOA Wealth Advisors LLC. acquired a new stake in Western Digital in the first quarter valued at $31,000. OFI Invest Asset Management purchased a new stake in shares of Western Digital during the 2nd quarter worth $34,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Western Digital during the 2nd quarter worth $34,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Western Digital Price Performance

WDC opened at $64.09 on Tuesday. 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’s 50-day moving average price is $65.72 and its 200 day moving average price is $69.48. Western Digital Co. has a fifty-two week low of $35.62 and a fifty-two week high of $81.55. The firm has a market cap of $20.93 billion, a price-to-earnings ratio of -12.90 and a beta of 1.39.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Wednesday, July 31st. The data storage provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.17. The business had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.75%. As a group, sell-side analysts expect that Western Digital Co. will post 7.75 earnings per share for the current year.

Analysts Set New Price Targets

WDC has been the subject of several recent research reports. Loop Capital raised their price target on Western Digital from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Wedbush raised their target price on shares of Western Digital from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Citigroup lowered their target price on shares of Western Digital from $95.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Benchmark boosted their target price on shares of Western Digital from $85.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Susquehanna lowered their target price on shares of Western Digital from $88.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $83.05.

Insider Transactions at Western Digital

In related news, SVP Gene M. Zamiska sold 417 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total value of $27,059.13. Following the sale, the senior vice president now owns 28,870 shares of the company’s stock, valued at approximately $1,873,374.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Western Digital news, SVP Gene M. Zamiska sold 417 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total transaction of $27,059.13. Following the completion of the transaction, the senior vice president now directly owns 28,870 shares of the company’s stock, valued at approximately $1,873,374.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Soderbery sold 12,154 shares of the business’s 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 transaction, the executive vice president now directly owns 128,413 shares of the company’s stock, valued at $7,331,098.17. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,955 shares of company stock worth $1,053,560. 0.28% of the stock is currently owned by company insiders.

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.