Western Digital Co. (NASDAQ:WDC) SVP Sells $19,776.72 in Stock

Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska sold 456 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $43.37, for a total transaction of $19,776.72. Following the completion of the sale, the senior vice president now owns 43,320 shares in the company, valued at approximately $1,878,788.40. The trade was a 1.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Western Digital Trading Up 2.8 %

WDC traded up $1.16 during trading hours on Wednesday, reaching $42.96. 5,998,287 shares of the company’s stock traded hands, compared to its average volume of 9,312,417. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $60.58 and a 200 day moving average price of $64.06. Western Digital Co. has a 52-week low of $39.42 and a 52-week high of $61.16. The firm has a market capitalization of $14.94 billion, a PE ratio of 10.23 and a beta of 1.42.

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

Hedge Funds Weigh In On Western Digital

A number of institutional investors have recently modified their holdings of the stock. First Horizon Advisors Inc. grew its stake in Western Digital by 5.4% in the third quarter. First Horizon Advisors Inc. now owns 2,929 shares of the data storage provider’s stock worth $200,000 after purchasing an additional 149 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Western Digital by 7.0% in the 4th quarter. Mather Group LLC. now owns 2,416 shares of the data storage provider’s stock worth $144,000 after buying an additional 159 shares during the period. Vontobel Holding Ltd. grew its position in shares of Western Digital by 1.4% during the 4th quarter. Vontobel Holding Ltd. now owns 11,804 shares of the data storage provider’s stock worth $704,000 after buying an additional 164 shares in the last quarter. BNP Paribas increased its stake in shares of Western Digital by 0.6% during the fourth quarter. BNP Paribas now owns 26,415 shares of the data storage provider’s stock valued at $1,575,000 after buying an additional 166 shares during the period. Finally, Quarry LP raised its holdings in shares of Western Digital by 22.6% in the third quarter. Quarry LP now owns 932 shares of the data storage provider’s stock valued at $64,000 after acquiring an additional 172 shares in the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WDC has been the subject of a number of research reports. The Goldman Sachs Group increased their price target on Western Digital from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Rosenblatt Securities lowered their target price on Western Digital from $115.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Benchmark lowered shares of Western Digital from a “buy” rating to a “hold” rating and set a $70.00 target price for the company. in a report on Thursday, December 19th. Morgan Stanley decreased their price target on shares of Western Digital from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, Barclays dropped their price objective on shares of Western Digital from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $81.47.

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.