Western Digital Co. (NASDAQ:WDC) Shares Sold by Waterloo Capital L.P.

Waterloo Capital L.P. decreased its holdings in Western Digital Co. (NASDAQ:WDC) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,760 shares of the data storage provider’s stock after selling 178 shares during the quarter. Waterloo Capital L.P.’s holdings in Western Digital were worth $209,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in WDC. Kodai Capital Management LP acquired a new stake in shares of Western Digital in the 4th quarter valued at approximately $212,900,000. Norges Bank purchased a new stake in shares of Western Digital during the fourth quarter worth about $150,958,000. AGF Management Ltd. grew its stake in Western Digital by 28,925.8% in the 2nd quarter. AGF Management Ltd. now owns 2,202,190 shares of the data storage provider’s stock worth $166,860,000 after acquiring an additional 2,194,603 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Western Digital by 1,089.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,071,600 shares of the data storage provider’s stock valued at $73,126,000 after purchasing an additional 981,527 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Western Digital during the 4th quarter valued at about $48,466,000. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital Stock Performance

Shares of NASDAQ WDC opened at $65.97 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 1.32. The firm has a market cap of $21.54 billion, a P/E ratio of -13.27 and a beta of 1.39. The stock has a fifty day moving average price of $65.15 and a two-hundred day moving average price of $69.46. Western Digital Co. has a 1 year low of $35.62 and a 1 year high of $81.55.

Western Digital (NASDAQ:WDC) last released its earnings results on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.08 by $0.17. The business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.77 billion. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. Research analysts forecast that Western Digital Co. will post 7.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WDC has been the subject of a number of research analyst reports. Mizuho upped their price objective on Western Digital from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Western Digital in a research report on Thursday, August 1st. Evercore ISI reiterated an “outperform” rating and issued a $85.00 price target on shares of Western Digital in a research note on Thursday, August 15th. Wedbush upped their price target on shares of Western Digital from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Finally, Summit Insights cut Western Digital from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $83.05.

Insiders Place Their Bets

In other Western Digital news, EVP Robert Soderbery sold 12,154 shares of Western Digital stock in a transaction that occurred on 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 in the company, valued at approximately $7,331,098.17. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Robert Soderbery sold 12,154 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $7,331,098.17. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Gene M. Zamiska sold 417 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total value of $27,059.13. Following the completion of the transaction, the senior vice president now directly owns 28,870 shares in the company, valued at $1,873,374.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,955 shares of company stock worth $1,053,560. Company 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.