GAMMA Investing LLC Buys 509 Shares of Western Digital Co. (NASDAQ:WDC)

GAMMA Investing LLC increased its stake in shares of Western Digital Co. (NASDAQ:WDC) by 7.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,095 shares of the data storage provider’s stock after purchasing an additional 509 shares during the quarter. GAMMA Investing LLC’s holdings in Western Digital were worth $423,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of WDC. Fairfield Financial Advisors LTD purchased a new stake in shares of Western Digital in the second quarter valued at $29,000. Eastern Bank bought a new position in Western Digital during the 3rd quarter valued at about $27,000. Versant Capital Management Inc raised its position in Western Digital by 278.9% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock worth $25,000 after purchasing an additional 304 shares during the period. True Wealth Design LLC lifted its stake in Western Digital by 2,184.2% in the third quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock worth $30,000 after purchasing an additional 415 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Western Digital during the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Insider Activity

In other Western Digital news, CEO David Goeckeler sold 75,000 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $72.58, for a total transaction of $5,443,500.00. Following the sale, the chief executive officer now owns 821,630 shares in the company, valued at approximately $59,633,905.40. The trade was a 8.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Gene M. Zamiska sold 1,993 shares of Western Digital stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $69.94, for a total value of $139,390.42. Following the sale, the senior vice president now directly owns 30,608 shares of the company’s stock, valued at $2,140,723.52. This trade represents a 6.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,107 shares of company stock worth $7,768,381 over the last 90 days. 0.30% of the stock is currently owned by corporate insiders.

Western Digital Trading Up 3.6 %

NASDAQ:WDC opened at $64.07 on Monday. The firm has a 50 day moving average of $66.19 and a 200 day moving average of $67.10. The company has a quick ratio of 0.91, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. Western Digital Co. has a 52 week low of $48.96 and a 52 week high of $81.55. The stock has a market capitalization of $22.15 billion, a price-to-earnings ratio of 37.69 and a beta of 1.42.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WDC shares. Citigroup reduced their price target on Western Digital from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Wedbush reiterated an “outperform” rating and set a $95.00 target price on shares of Western Digital in a research report on Friday, November 29th. Barclays upped their price target on shares of Western Digital from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Benchmark lowered shares of Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price objective for the company. in a report on Thursday, December 19th. Finally, The Goldman Sachs Group dropped their target price on shares of Western Digital from $79.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Western Digital has a consensus rating of “Moderate Buy” and an average target price of $85.95.

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.