Nisa Investment Advisors LLC Acquires 1,530 Shares of Western Digital Corporation $WDC

Nisa Investment Advisors LLC raised its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 1.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 88,115 shares of the data storage provider’s stock after purchasing an additional 1,530 shares during the period. Nisa Investment Advisors LLC’s holdings in Western Digital were worth $5,638,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in WDC. Wealth Enhancement Advisory Services LLC increased its stake in shares of Western Digital by 52.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,838 shares of the data storage provider’s stock valued at $1,166,000 after purchasing an additional 9,974 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in Western Digital by 617.0% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 125,971 shares of the data storage provider’s stock valued at $5,093,000 after buying an additional 108,403 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Western Digital by 0.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,395 shares of the data storage provider’s stock valued at $1,835,000 after buying an additional 264 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Western Digital by 2.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,344 shares of the data storage provider’s stock valued at $668,000 after buying an additional 406 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of Western Digital by 3.4% during the first quarter. KBC Group NV now owns 289,693 shares of the data storage provider’s stock valued at $11,712,000 after acquiring an additional 9,577 shares in the last quarter. Institutional investors own 92.51% of the company’s stock.

Insider Transactions at Western Digital

In other Western Digital news, insider Cynthia L. Tregillis sold 14,067 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $74.78, for a total transaction of $1,051,930.26. Following the completion of the sale, the insider directly owned 135,351 shares in the company, valued at $10,121,547.78. The trade was a 9.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Vidyadhara K. Gubbi sold 11,343 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $90.29, for a total transaction of $1,024,159.47. Following the sale, the insider owned 151,596 shares of the company’s stock, valued at $13,687,602.84. This trade represents a 6.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 49,730 shares of company stock valued at $3,921,594. 0.18% of the stock is owned by company insiders.

Western Digital Trading Down 1.4%

NASDAQ:WDC opened at $124.92 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. Western Digital Corporation has a 12 month low of $28.83 and a 12 month high of $137.40. The company has a market cap of $42.82 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 1.03 and a beta of 1.77. The company has a 50 day simple moving average of $106.15 and a two-hundred day simple moving average of $74.56.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Monday, April 7th. The data storage provider reported $1.78 EPS for the quarter. Western Digital had a return on equity of 24.93% and a net margin of 14.13%.The company had revenue of $4.10 billion during the quarter. Research analysts forecast that Western Digital Corporation will post 4.89 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on WDC. The Goldman Sachs Group raised their price target on Western Digital from $78.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. Sanford C. Bernstein upgraded shares of Western Digital to a “hold” rating in a research note on Tuesday, September 16th. UBS Group raised their price target on shares of Western Digital from $85.00 to $135.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. Mizuho raised their price target on shares of Western Digital from $120.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Finally, TD Cowen lifted their target price on Western Digital from $58.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.84.

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.