Samlyn Capital LLC Takes $26.47 Million Position in Western Digital Co. (NASDAQ:WDC)

Samlyn Capital LLC purchased a new stake in shares of Western Digital Co. (NASDAQ:WDC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 349,307 shares of the data storage provider’s stock, valued at approximately $26,467,000.

Several other institutional investors and hedge funds have also recently modified their holdings of WDC. Rise Advisors LLC acquired a new position in Western Digital in the first quarter valued at about $25,000. Fairfield Financial Advisors LTD acquired a new position in Western Digital in the second quarter valued at about $29,000. Fidelis Capital Partners LLC acquired a new position in Western Digital in the first quarter valued at about $30,000. 1620 Investment Advisors Inc. acquired a new position in Western Digital in the second quarter valued at about $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Western Digital in the second quarter valued at about $34,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Western Digital Stock Down 0.7 %

Shares of NASDAQ:WDC opened at $66.29 on Tuesday. The company has a market cap of $21.65 billion, a price-to-earnings ratio of -13.34 and a beta of 1.39. The firm’s 50-day simple moving average is $64.43 and its 200-day simple moving average is $69.54. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.53. Western Digital Co. has a fifty-two week low of $35.62 and a fifty-two week high of $81.55.

Western Digital (NASDAQ:WDC) last issued its earnings results on Wednesday, July 31st. The data storage provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.17. The business had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.77 billion. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. As a group, equities research analysts predict that Western Digital Co. will post 7.75 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on WDC shares. Citigroup reduced their price target on shares of Western Digital from $95.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $80.00 price target on shares of Western Digital in a research report on Tuesday, September 10th. Wedbush increased their price target on shares of Western Digital from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Mizuho upped their target price on shares of Western Digital from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Finally, Rosenblatt Securities restated a “buy” rating and set a $115.00 target price on shares of Western Digital in a research note on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.24.

Insider Activity at Western Digital

In related news, SVP Gene M. Zamiska sold 417 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total value of $27,059.13. Following the completion of the sale, the senior vice president now owns 28,870 shares in the company, valued at $1,873,374.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Gene M. Zamiska sold 417 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total value of $27,059.13. Following the completion of the sale, the senior vice president now owns 28,870 shares in the company, valued at $1,873,374.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Soderbery sold 12,154 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $57.09, for a total transaction of $693,871.86. Following the completion of the sale, the executive vice president now owns 128,413 shares of the company’s stock, valued at approximately $7,331,098.17. The disclosure for this sale can be found here. Insiders sold 17,955 shares of company stock worth $1,053,560 over the last 90 days. Company insiders own 0.28% of the company’s stock.

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.