Perigon Wealth Management LLC Has $214,000 Holdings in Western Digital Co. (NASDAQ:WDC)

Perigon Wealth Management LLC lowered its stake in Western Digital Co. (NASDAQ:WDC) by 8.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,326 shares of the data storage provider’s stock after selling 310 shares during the period. Perigon Wealth Management LLC’s holdings in Western Digital were worth $214,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. grew its stake in shares of Western Digital by 5.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,929 shares of the data storage provider’s stock valued at $200,000 after purchasing an additional 149 shares during the period. Quarry LP grew its stake in shares of Western Digital by 22.6% in the 3rd quarter. Quarry LP now owns 932 shares of the data storage provider’s stock valued at $64,000 after purchasing an additional 172 shares during the period. Inspire Investing LLC grew its stake in shares of Western Digital by 4.3% in the 4th quarter. Inspire Investing LLC now owns 4,324 shares of the data storage provider’s stock valued at $258,000 after purchasing an additional 177 shares during the period. Empirical Finance LLC grew its stake in shares of Western Digital by 2.4% in the 3rd quarter. Empirical Finance LLC now owns 10,891 shares of the data storage provider’s stock valued at $744,000 after purchasing an additional 256 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of Western Digital by 6.0% in the 3rd quarter. Van ECK Associates Corp now owns 4,696 shares of the data storage provider’s stock valued at $313,000 after purchasing an additional 267 shares during the period. Institutional investors and hedge funds own 92.51% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on WDC shares. Citigroup reduced their target price on Western Digital from $82.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $95.00 target price on shares of Western Digital in a report on Thursday, January 30th. Benchmark downgraded Western Digital from a “buy” rating to a “hold” rating and set a $70.00 target price on the stock. in a report on Thursday, December 19th. Rosenblatt Securities reduced their target price on Western Digital from $115.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, UBS Group reduced their target price on Western Digital from $78.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.21.

Western Digital Stock Performance

WDC stock opened at $64.42 on Tuesday. The business’s fifty day moving average is $65.57 and its 200-day moving average is $65.36. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. The company has a market cap of $22.27 billion, a P/E ratio of 15.34 and a beta of 1.43. Western Digital Co. has a twelve month low of $52.77 and a twelve month high of $81.55.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.36). Western Digital had a net margin of 9.95% and a return on equity of 15.68%. Equities research analysts forecast that Western Digital Co. will post 5.16 EPS for the current year.

Insider Activity at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 658 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total transaction of $46,053.42. Following the completion of the transaction, the senior vice president now owns 28,863 shares in the company, valued at approximately $2,020,121.37. This represents a 2.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 1,347 shares of company stock worth $93,027 in the last quarter. Corporate insiders own 0.30% of the company’s stock.

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.