Inspire Investing LLC Has $261,000 Position in Western Digital Co. (NASDAQ:WDC)

Inspire Investing LLC trimmed its holdings in Western Digital Co. (NASDAQ:WDC) by 46.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,443 shares of the data storage provider’s stock after selling 3,020 shares during the quarter. Inspire Investing LLC’s holdings in Western Digital were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on WDC shares. Summit Insights downgraded Western Digital from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. StockNews.com upgraded Western Digital from a “sell” rating to a “hold” rating in a report on Saturday, July 6th. Citigroup cut their target price on Western Digital from $95.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Cantor Fitzgerald restated an “overweight” rating and set a $80.00 price target on shares of Western Digital in a research note on Tuesday, September 10th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Western Digital in a research note on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $84.24.

Insiders Place Their Bets

In other news, SVP Gene M. Zamiska sold 2,169 shares of the company’s 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 transaction, the senior vice president now owns 32,601 shares of the company’s stock, valued at approximately $2,019,957.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Gene M. Zamiska sold 2,900 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $61.48, for a total value of $178,292.00. Following the sale, the senior vice president now owns 37,448 shares of the company’s stock, valued at $2,302,303.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Gene M. Zamiska sold 2,169 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 32,601 shares of the company’s stock, valued at $2,019,957.96. The disclosure for this sale can be found here. Insiders sold 17,955 shares of company stock valued at $1,053,560 over the last ninety days. 0.28% of the stock is currently owned by insiders.

Western Digital Trading Up 0.3 %

Shares of Western Digital stock opened at $66.46 on Wednesday. The stock has a fifty day moving average price of $64.21 and a 200-day moving average price of $69.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.32 and a quick ratio of 0.78. The firm has a market cap of $21.70 billion, a PE ratio of -13.37 and a beta of 1.39. Western Digital Co. has a 1 year low of $35.62 and a 1 year high of $81.55.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, topping 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 business had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.77 billion. Equities research analysts anticipate that Western Digital Co. will post 7.75 EPS for the current year.

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.