GAMMA Investing LLC Buys 1,252 Shares of Western Digital Co. (NASDAQ:WDC)

GAMMA Investing LLC grew its stake in shares of Western Digital Co. (NASDAQ:WDC) by 23.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 6,586 shares of the data storage provider’s stock after acquiring an additional 1,252 shares during the quarter. GAMMA Investing LLC’s holdings in Western Digital were worth $450,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Rise Advisors LLC acquired a new position in Western Digital during the first quarter valued at approximately $25,000. Fairfield Financial Advisors LTD bought a new position in shares of Western Digital in the 2nd quarter valued at $29,000. Fidelis Capital Partners LLC acquired a new position in shares of Western Digital during the 1st quarter worth $30,000. 1620 Investment Advisors Inc. bought a new stake in shares of Western Digital during the 2nd quarter worth $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Western Digital in the second quarter valued at about $34,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on WDC shares. TD Cowen dropped their target price on shares of Western Digital from $95.00 to $80.00 and set a “buy” rating for the company in a report on Friday, September 13th. Wedbush raised their price objective on Western Digital from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Citigroup lowered their target price on Western Digital from $95.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Susquehanna cut their price target on Western Digital from $88.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, Summit Insights downgraded Western Digital from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Western Digital has a consensus rating of “Moderate Buy” and a consensus target price of $84.24.

Western Digital Price Performance

WDC stock opened at $64.48 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.32 and a quick ratio of 0.78. The company’s 50-day moving average is $63.74 and its 200-day moving average is $69.93. The stock has a market capitalization of $22.15 billion, a PE ratio of -12.97 and a beta of 1.39. Western Digital Co. has a 1 year low of $35.62 and a 1 year high of $81.55.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.17. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.75%. The firm had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Equities research analysts expect that Western Digital Co. will post 7.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Gene M. Zamiska sold 417 shares of Western Digital stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total transaction of $27,059.13. Following the completion of the transaction, the senior vice president now directly owns 28,870 shares in the company, valued at $1,873,374.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Western Digital news, CEO David Goeckeler sold 75,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $70.32, for a total transaction of $5,274,000.00. Following the transaction, the chief executive officer now directly owns 896,630 shares in the company, valued at approximately $63,051,021.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Gene M. Zamiska sold 417 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total transaction of $27,059.13. Following the completion of the sale, the senior vice president now owns 28,870 shares of the company’s stock, valued at approximately $1,873,374.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,955 shares of company stock worth $6,327,560. 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.