OneDigital Investment Advisors LLC Acquires 317 Shares of Western Digital Co. (NASDAQ:WDC)

OneDigital Investment Advisors LLC grew its holdings in Western Digital Co. (NASDAQ:WDC) by 9.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,665 shares of the data storage provider’s stock after purchasing an additional 317 shares during the period. OneDigital Investment Advisors LLC’s holdings in Western Digital were worth $250,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of WDC. ING Groep NV raised its holdings in Western Digital by 796.9% during the 3rd quarter. ING Groep NV now owns 49,670 shares of the data storage provider’s stock valued at $3,392,000 after acquiring an additional 44,132 shares during the period. Metis Global Partners LLC grew its position in shares of Western Digital by 8.2% in the third quarter. Metis Global Partners LLC now owns 15,387 shares of the data storage provider’s stock valued at $1,051,000 after purchasing an additional 1,162 shares in the last quarter. Huntington National Bank raised its stake in shares of Western Digital by 67.4% during the 3rd quarter. Huntington National Bank now owns 1,296 shares of the data storage provider’s stock valued at $89,000 after purchasing an additional 522 shares during the period. KBC Group NV lifted its holdings in Western Digital by 11.2% during the 3rd quarter. KBC Group NV now owns 277,010 shares of the data storage provider’s stock worth $18,917,000 after purchasing an additional 27,849 shares in the last quarter. Finally, Kovack Advisors Inc. bought a new position in Western Digital in the 3rd quarter worth about $262,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Western Digital Stock Up 0.8 %

Shares of NASDAQ:WDC opened at $66.43 on Friday. Western Digital Co. has a 1 year low of $46.05 and a 1 year high of $81.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.91. The stock’s 50-day moving average is $66.48 and its 200 day moving average is $69.12. The company has a market cap of $22.97 billion, a PE ratio of 39.08 and a beta of 1.40.

Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, October 24th. The data storage provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.23. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.12 billion. Western Digital had a return on equity of 8.57% and a net margin of 4.81%. The firm’s revenue for the quarter was up 48.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.97) earnings per share. Sell-side analysts anticipate that Western Digital Co. will post 6.56 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WDC shares. TD Cowen lowered their price target on shares of Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Citigroup cut their price target on shares of Western Digital from $95.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, October 24th. The Goldman Sachs Group decreased their price target on shares of Western Digital from $79.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Evercore ISI reaffirmed an “outperform” rating and issued a $85.00 target price on shares of Western Digital in a research note on Thursday, August 15th. Finally, Wedbush restated an “outperform” rating and set a $95.00 price target on shares of Western Digital in a research report on Friday, October 25th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $87.71.

Insider Transactions at Western Digital

In related news, SVP Gene M. Zamiska sold 2,900 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $61.48, for a total value of $178,292.00. Following the sale, the senior vice president now directly owns 37,448 shares of the company’s stock, valued at $2,302,303.04. This represents a 7.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Soderbery sold 30,767 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $68.01, for a total value of $2,092,463.67. Following the completion of the transaction, the executive vice president now owns 135,398 shares of the company’s stock, valued at approximately $9,208,417.98. This trade represents a 18.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 188,520 shares of company stock valued at $13,306,224. Company insiders own 0.30% of the company’s stock.

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.