Summit Trail Advisors LLC Invests $1.52 Million in Western Digital Co. (NASDAQ:WDC)

Summit Trail Advisors LLC bought a new position in Western Digital Co. (NASDAQ:WDC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 20,095 shares of the data storage provider’s stock, valued at approximately $1,523,000.

Several other hedge funds have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of Western Digital by 1.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 15,962 shares of the data storage provider’s stock worth $1,209,000 after buying an additional 203 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in Western Digital by 15.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,527 shares of the data storage provider’s stock worth $116,000 after purchasing an additional 206 shares during the last quarter. Mather Group LLC. increased its position in Western Digital by 10.7% in the second quarter. Mather Group LLC. now owns 2,203 shares of the data storage provider’s stock worth $167,000 after purchasing an additional 213 shares during the last quarter. Lindbrook Capital LLC increased its position in Western Digital by 37.3% in the first quarter. Lindbrook Capital LLC now owns 843 shares of the data storage provider’s stock worth $58,000 after purchasing an additional 229 shares during the last quarter. Finally, Hanseatic Management Services Inc. increased its position in Western Digital by 2.3% in the second quarter. Hanseatic Management Services Inc. now owns 10,344 shares of the data storage provider’s stock worth $784,000 after purchasing an additional 236 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Insider Buying and Selling at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 417 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total transaction of $27,059.13. Following the transaction, the senior vice president now owns 28,870 shares of the company’s stock, valued at approximately $1,873,374.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Western Digital news, SVP Gene M. Zamiska sold 417 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total transaction of $27,059.13. Following the transaction, the senior vice president now owns 28,870 shares of the company’s stock, valued at approximately $1,873,374.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Gene M. Zamiska sold 2,169 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $61.96, for a total transaction of $134,391.24. Following the completion of the sale, the senior vice president now owns 32,601 shares in the company, valued at $2,019,957.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,955 shares of company stock valued at $1,053,560. Company insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Mizuho boosted their price target on shares of Western Digital from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Benchmark boosted their price target on shares of Western Digital from $85.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Rosenblatt Securities restated a “buy” rating and issued a $115.00 price target on shares of Western Digital in a research report on Thursday, August 1st. Evercore ISI reiterated an “outperform” rating and set a $85.00 price objective on shares of Western Digital in a research report on Thursday, August 15th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $80.00 target price on shares of Western Digital in a research note on Tuesday, September 10th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $84.24.

Western Digital Trading Up 1.2 %

WDC stock opened at $66.75 on Friday. The company has a market capitalization of $21.80 billion, a PE ratio of -13.43 and a beta of 1.39. Western Digital Co. has a 12 month low of $35.62 and a 12 month high of $81.55. The firm’s 50-day moving average is $64.68 and its 200 day moving average is $69.49. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.32 and a quick ratio of 0.78.

Western Digital (NASDAQ:WDC) last posted its earnings results on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.17. The business had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.77 billion. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. On average, research analysts anticipate that Western Digital Co. will post 7.75 EPS for the current year.

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.