TB Alternative Assets Ltd. purchased a new stake in Western Digital Co. (NASDAQ:WDC) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,800 shares of the data storage provider’s stock, valued at approximately $322,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. IFM Investors Pty Ltd lifted its position in shares of Western Digital by 8.4% during the 3rd quarter. IFM Investors Pty Ltd now owns 24,456 shares of the data storage provider’s stock valued at $894,000 after acquiring an additional 1,899 shares during the period. Coastline Trust Co lifted its position in shares of Western Digital by 54.4% during the 3rd quarter. Coastline Trust Co now owns 16,284 shares of the data storage provider’s stock valued at $595,000 after acquiring an additional 5,740 shares during the period. Avantax Advisory Services Inc. bought a new stake in shares of Western Digital during the 3rd quarter valued at $243,000. DNB Asset Management AS lifted its position in shares of Western Digital by 39.2% during the 3rd quarter. DNB Asset Management AS now owns 4,254,140 shares of the data storage provider’s stock valued at $155,489,000 after acquiring an additional 1,198,307 shares during the period. Finally, Regentatlantic Capital LLC lifted its position in shares of Western Digital by 38.0% during the 3rd quarter. Regentatlantic Capital LLC now owns 28,328 shares of the data storage provider’s stock valued at $1,036,000 after acquiring an additional 7,797 shares during the period. Institutional investors and hedge funds own 78.49% of the company’s stock.
Shares of WDC stock traded down $0.06 on Friday, hitting $37.94. The company had a trading volume of 17,427,812 shares, compared to its average volume of 6,080,970. Western Digital Co. has a twelve month low of $27.40 and a twelve month high of $72.00. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.36 and a current ratio of 2.05. The stock’s 50-day moving average is $37.58 and its two-hundred day moving average is $40.78. The firm has a market cap of $11.54 billion, a P/E ratio of -44.63 and a beta of 1.49.
Western Digital (NASDAQ:WDC) last released its earnings results on Wednesday, August 5th. The data storage provider reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.22. Western Digital had a positive return on equity of 6.72% and a negative net margin of 1.49%. The business had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.35 billion. During the same period last year, the business posted $0.17 earnings per share. Equities research analysts predict that Western Digital Co. will post 1.69 EPS for the current year.
A number of research firms have recently weighed in on WDC. Benchmark cut their target price on Western Digital from $60.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Wells Fargo & Company dropped their price objective on Western Digital from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. Loop Capital dropped their price objective on Western Digital from $70.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Cowen dropped their price objective on Western Digital from $70.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Finally, Zacks Investment Research upgraded Western Digital from a “strong sell” rating to a “hold” rating and set a $38.00 price objective for the company in a research report on Friday, October 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $61.56.
Western Digital Profile
Western Digital Corporation develops, manufactures, and sells data storage devices and solutions. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook personal computers (PCs), smart video systems, gaming consoles, and set top boxes; 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; flash-based memory wafers; and embedded storage solutions and flash products.
Read More: Example of operating income, EBIT and EBITDA
Want to see what other hedge funds are holding WDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Digital Co. (NASDAQ:WDC).
Receive News & Ratings for Western Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Digital and related companies with MarketBeat.com's FREE daily email newsletter.