Western Digital Co. (NASDAQ:WDC) Shares Bought by Private Advisor Group LLC

Private Advisor Group LLC raised its holdings in Western Digital Co. (NASDAQ:WDC) by 27.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,317 shares of the data storage provider’s stock after purchasing an additional 936 shares during the quarter. Private Advisor Group LLC’s holdings in Western Digital were worth $295,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of WDC. Eastern Bank purchased a new stake in Western Digital during the third quarter worth about $27,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Western Digital by 82.4% in the third quarter. Sequoia Financial Advisors LLC now owns 7,108 shares of the data storage provider’s stock valued at $485,000 after purchasing an additional 3,211 shares in the last quarter. Palouse Capital Management Inc. purchased a new stake in shares of Western Digital in the third quarter valued at about $68,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Western Digital by 14.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 18,268 shares of the data storage provider’s stock valued at $1,248,000 after purchasing an additional 2,306 shares in the last quarter. Finally, Cadent Capital Advisors LLC purchased a new stake in shares of Western Digital in the third quarter valued at about $566,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Stock Performance

Western Digital stock opened at $69.91 on Thursday. The firm’s 50 day simple moving average is $65.82 and its 200-day simple moving average is $69.50. The company has a market cap of $24.17 billion, a P/E ratio of 41.12 and a beta of 1.40. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.91. Western Digital Co. has a fifty-two week low of $42.44 and a fifty-two week high of $81.55.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Thursday, October 24th. The data storage provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.23. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.12 billion. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The firm’s revenue was up 48.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.97) earnings per share. As a group, equities research analysts predict that Western Digital Co. will post 6.56 EPS for the current year.

Insider Buying and Selling at Western Digital

In other news, EVP Robert Soderbery sold 30,767 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $68.01, for a total value of $2,092,463.67. Following the completion of the sale, the executive vice president now directly owns 135,398 shares in the company, valued at approximately $9,208,417.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Western Digital news, SVP Gene M. Zamiska sold 1,993 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $69.94, for a total value of $139,390.42. Following the sale, the senior vice president now owns 30,608 shares of the company’s stock, valued at $2,140,723.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert Soderbery sold 30,767 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $68.01, for a total transaction of $2,092,463.67. Following the completion of the sale, the executive vice president now directly owns 135,398 shares in the company, valued at $9,208,417.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 188,561 shares of company stock worth $13,309,042 over the last ninety days. 0.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on WDC shares. Barclays boosted their price objective on shares of Western Digital from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. The Goldman Sachs Group decreased their target price on shares of Western Digital from $79.00 to $72.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Cantor Fitzgerald increased their price objective on shares of Western Digital from $80.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Rosenblatt Securities reissued a “buy” rating and set a $115.00 target price on shares of Western Digital in a report on Friday, October 25th. Finally, Wedbush reissued an “outperform” rating and set a $95.00 target price on shares of Western Digital in a report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $87.71.

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.