Portolan Capital Management LLC Has $7.71 Million Stock Position in Western Digital Co. (NASDAQ:WDC)

Portolan Capital Management LLC lessened its position in shares of Western Digital Co. (NASDAQ:WDC) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 129,245 shares of the data storage provider’s stock after selling 5,982 shares during the quarter. Portolan Capital Management LLC’s holdings in Western Digital were worth $7,707,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in Western Digital by 278.9% during the 4th 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 period. Sierra Ocean LLC acquired a new stake in shares of Western Digital during the fourth quarter worth $29,000. Comprehensive Financial Planning Inc. PA acquired a new position in Western Digital in the fourth quarter valued at about $30,000. OFI Invest Asset Management bought a new position in Western Digital during the fourth quarter worth about $36,000. Finally, S.A. Mason LLC bought a new position in Western Digital during the fourth quarter worth about $45,000. Institutional investors own 92.51% of the company’s stock.

Western Digital Trading Down 1.3 %

Shares of NASDAQ:WDC opened at $34.40 on Monday. The stock has a market capitalization of $11.97 billion, a PE ratio of 8.19 and a beta of 1.39. The company’s 50-day moving average price is $48.44 and its two-hundred day moving average price is $59.87. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26. Western Digital Co. has a one year low of $28.83 and a one year high of $81.55.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 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%. On average, equities analysts forecast that Western Digital Co. will post 4.89 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Gene M. Zamiska sold 1,659 shares of Western Digital stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $41.36, for a total transaction of $68,616.24. Following the completion of the transaction, the senior vice president now owns 43,776 shares in the company, valued at approximately $1,810,575.36. This trade represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Western Digital from $85.00 to $75.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Robert W. Baird reduced their price target on shares of Western Digital from $100.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Citigroup raised their price objective on Western Digital from $60.45 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Rosenblatt Securities decreased their target price on Western Digital from $115.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, Mizuho dropped their price target on Western Digital from $82.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

Western Digital Company 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.