Silver Oak Securities Incorporated Purchases New Position in Western Digital Co. (NASDAQ:WDC)

Silver Oak Securities Incorporated acquired a new stake in shares of Western Digital Co. (NASDAQ:WDC) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,635 shares of the data storage provider’s stock, valued at approximately $217,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Eastern Bank bought a new position in shares of Western Digital in the 3rd quarter valued at approximately $27,000. Versant Capital Management Inc grew its holdings in Western Digital by 278.9% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock valued at $25,000 after purchasing an additional 304 shares during the last quarter. True Wealth Design LLC raised its holdings in Western Digital by 2,184.2% in the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock worth $30,000 after acquiring an additional 415 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Western Digital during the 3rd quarter worth about $41,000. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of Western Digital during the third quarter worth approximately $42,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Gene M. Zamiska sold 658 shares of Western Digital stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total transaction of $46,053.42. Following the completion of the sale, the senior vice president now owns 28,863 shares in the company, valued at $2,020,121.37. The trade was a 2.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 1,347 shares of company stock worth $93,027 in the last 90 days. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WDC. 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 research report on Friday, January 17th. BNP Paribas dropped their price objective on shares of Western Digital from $95.00 to $90.00 in a report on Thursday, October 24th. UBS Group decreased their target price on Western Digital from $78.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Susquehanna reduced their price objective on Western Digital from $83.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Finally, Rosenblatt Securities lowered their price objective on Western Digital from $115.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.21.

Western Digital Stock Performance

NASDAQ:WDC opened at $64.46 on Monday. The stock has a market capitalization of $22.42 billion, a P/E ratio of 15.35 and a beta of 1.44. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60. Western Digital Co. has a 1 year low of $52.77 and a 1 year high of $81.55. The firm has a 50 day moving average of $64.94 and a 200-day moving average of $65.14.

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

Western Digital 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.