Davidson Kempner Capital Management LP Has $105.94 Million Stock Holdings in Western Digital Co. (NASDAQ:WDC)

Davidson Kempner Capital Management LP cut its stake in shares of Western Digital Co. (NASDAQ:WDC) by 9.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,398,358 shares of the data storage provider’s stock after selling 152,950 shares during the quarter. Western Digital makes up about 2.2% of Davidson Kempner Capital Management LP’s portfolio, making the stock its 8th largest position. Davidson Kempner Capital Management LP owned approximately 0.43% of Western Digital worth $105,940,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. Oppenheimer & Co. Inc. bought a new stake in shares of Western Digital during the first quarter valued at approximately $1,242,000. Bessemer Group Inc. raised its holdings in Western Digital by 28.6% during the first quarter. Bessemer Group Inc. now owns 2,619 shares of the data storage provider’s stock worth $179,000 after buying an additional 583 shares during the last quarter. Gerber LLC bought a new position in shares of Western Digital in the fourth quarter valued at $567,000. State Board of Administration of Florida Retirement System grew its holdings in shares of Western Digital by 6.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 382,071 shares of the data storage provider’s stock valued at $26,073,000 after buying an additional 23,781 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Western Digital by 1,089.7% during the first quarter. Canada Pension Plan Investment Board now owns 1,071,600 shares of the data storage provider’s stock worth $73,126,000 after acquiring an additional 981,527 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Western Digital

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

Western Digital Stock Up 1.2 %

WDC stock opened at $66.75 on Monday. The stock has a 50-day simple moving average of $64.68 and a two-hundred day simple moving average of $69.53. Western Digital Co. has a twelve month low of $35.62 and a twelve month high of $81.55. The firm has a market capitalization of $21.80 billion, a PE ratio of -13.43 and a beta of 1.39. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.53.

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

Wall Street Analysts Forecast Growth

WDC has been the topic of several recent research reports. StockNews.com raised shares of Western Digital from a “sell” rating to a “hold” rating in a research report on Saturday, July 6th. Susquehanna dropped their target price on Western Digital from $88.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $80.00 price target on shares of Western Digital in a report on Tuesday, September 10th. Citigroup dropped their price objective on Western Digital from $95.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $85.00 price objective on shares of Western Digital in a report on Thursday, August 15th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Western Digital has a consensus rating of “Moderate Buy” and a consensus price target of $84.24.

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.