Commonwealth Equity Services LLC Reduces Stock Position in Western Digital Co. (NASDAQ:WDC)

Commonwealth Equity Services LLC lessened its holdings in shares of Western Digital Co. (NASDAQ:WDC) by 43.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,062 shares of the data storage provider’s stock after selling 7,588 shares during the period. Commonwealth Equity Services LLC’s holdings in Western Digital were worth $600,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of WDC. Versant Capital Management Inc lifted its position in shares of 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. Sierra Ocean LLC bought a new position in Western Digital in the fourth quarter worth about $29,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Western Digital in the fourth quarter worth about $30,000. OFI Invest Asset Management bought a new stake in Western Digital during the 4th quarter valued at approximately $36,000. Finally, S.A. Mason LLC purchased a new position in shares of Western Digital during the 4th quarter worth approximately $45,000. Institutional investors own 92.51% of the company’s stock.

Western Digital Stock Down 10.6 %

WDC opened at $30.54 on Friday. Western Digital Co. has a 1-year low of $29.76 and a 1-year high of $81.55. The firm’s 50 day simple moving average is $52.70 and its two-hundred day simple moving average is $61.51. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $10.62 billion, a PE ratio of 7.27 and a beta of 1.39.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. As a group, equities analysts forecast that Western Digital Co. will post 4.89 EPS for the current year.

Insider Buying and Selling at Western Digital

In other news, SVP Gene M. Zamiska sold 1,659 shares of Western Digital stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $41.36, for a total transaction of $68,616.24. Following the sale, the senior vice president now owns 43,776 shares in the company, valued at $1,810,575.36. This trade represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on WDC shares. Barclays dropped their target price on shares of Western Digital from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Robert W. Baird dropped their price objective on shares of Western Digital from $100.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. Cantor Fitzgerald cut their price objective on shares of Western Digital from $95.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Wells Fargo & Company lowered their target price on shares of Western Digital from $85.00 to $75.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Finally, Citigroup upped their price target on Western Digital from $60.45 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $80.21.

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.