Western Digital Co. (NASDAQ:WDC) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its stake in Western Digital Co. (NASDAQ:WDC) by 14.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,268 shares of the data storage provider’s stock after acquiring an additional 2,306 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Western Digital were worth $1,248,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oppenheimer & Co. Inc. acquired a new position in Western Digital in the first quarter worth approximately $1,242,000. Bessemer Group Inc. grew its position in Western Digital by 28.6% in the first quarter. Bessemer Group Inc. now owns 2,619 shares of the data storage provider’s stock valued at $179,000 after purchasing an additional 583 shares in the last quarter. Ghisallo Capital Management LLC acquired a new stake in shares of Western Digital in the second quarter valued at approximately $13,260,000. State Board of Administration of Florida Retirement System raised 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 buying an additional 23,781 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Western Digital by 1,089.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,071,600 shares of the data storage provider’s stock worth $73,126,000 after buying an additional 981,527 shares in the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insider Transactions at Western Digital

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 value of $27,059.13. Following the transaction, the senior vice president now directly owns 28,870 shares in the company, valued at $1,873,374.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $27,059.13. Following the transaction, the senior vice president now owns 28,870 shares in the company, valued at approximately $1,873,374.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 200,715 shares of company stock valued at $14,002,914 over the last ninety days. 0.30% of the stock is currently owned by insiders.

Western Digital Price Performance

NASDAQ:WDC opened at $65.31 on Friday. The firm’s 50-day simple moving average is $65.66 and its 200 day simple moving average is $69.56. The firm has a market cap of $22.58 billion, a price-to-earnings ratio of 38.42 and a beta of 1.39. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.47. Western Digital Co. has a 52 week low of $38.43 and a 52 week high of $81.55.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, October 24th. The data storage provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.23. Western Digital had a return on equity of 8.57% and a net margin of 4.81%. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter last year, the business posted ($1.97) EPS. Western Digital’s revenue for the quarter was up 48.9% on a year-over-year basis. As a group, sell-side analysts predict that Western Digital Co. will post 7.16 earnings per share for the current year.

Analyst Ratings Changes

WDC has been the subject of a number of analyst reports. Summit Insights downgraded Western Digital from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Wedbush reaffirmed an “outperform” rating and issued a $95.00 price target on shares of Western Digital in a research note on Friday, October 25th. Evercore ISI reiterated an “outperform” rating and issued a $85.00 target price on shares of Western Digital in a research note on Thursday, August 15th. Barclays boosted their target price on shares of Western Digital from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Citigroup dropped their price target on Western Digital from $95.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.71.

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.