Western Digital Co. (NASDAQ:WDC) Shares Sold by Romano Brothers AND Company

Romano Brothers AND Company lowered its holdings in Western Digital Co. (NASDAQ:WDC) by 32.0% in the first quarter, Holdings Channel.com reports. The fund owned 21,764 shares of the data storage provider’s stock after selling 10,250 shares during the quarter. Romano Brothers AND Company’s holdings in Western Digital were worth $1,485,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rise Advisors LLC purchased a new stake in Western Digital during the 1st quarter worth about $25,000. Naples Money Management LLC purchased a new stake in Western Digital in the 4th quarter valued at about $26,000. SOA Wealth Advisors LLC. purchased a new stake in Western Digital in the 1st quarter valued at about $31,000. Lindbrook Capital LLC grew its holdings in Western Digital by 121.7% in the 4th quarter. Lindbrook Capital LLC now owns 614 shares of the data storage provider’s stock valued at $32,000 after buying an additional 337 shares during the period. Finally, Northwest Financial Advisors purchased a new stake in Western Digital in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insider Buying and Selling at Western Digital

In other Western Digital news, Director Kimberly Alexy sold 2,648 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.95, for a total value of $185,227.60. Following the transaction, the director now directly owns 20,509 shares of the company’s stock, valued at approximately $1,434,604.55. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Robert Soderbery sold 26,853 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $73.48, for a total value of $1,973,158.44. Following the completion of the sale, the executive vice president now directly owns 144,623 shares in the company, valued at approximately $10,626,898.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimberly Alexy sold 2,648 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $69.95, for a total value of $185,227.60. Following the completion of the sale, the director now owns 20,509 shares of the company’s stock, valued at $1,434,604.55. The disclosure for this sale can be found here. Insiders have sold a total of 30,579 shares of company stock valued at $2,238,595 in the last three months. Corporate insiders own 0.28% of the company’s stock.

Western Digital Stock Down 1.1 %

Western Digital stock opened at $75.77 on Friday. The stock’s 50 day moving average price is $74.26 and its 200 day moving average price is $64.39. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.86 and a quick ratio of 1.07. Western Digital Co. has a one year low of $35.62 and a one year high of $81.55.

Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, April 25th. The data storage provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.42. Western Digital had a negative return on equity of 13.75% and a negative net margin of 12.87%. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.37 billion. During the same period in the prior year, the company posted ($1.57) EPS. Western Digital’s quarterly revenue was up 23.3% on a year-over-year basis. Research analysts forecast that Western Digital Co. will post -1.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on WDC shares. Morgan Stanley lifted their price target on Western Digital from $83.00 to $86.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Robert W. Baird lifted their price target on Western Digital from $65.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, April 26th. StockNews.com cut Western Digital from a “hold” rating to a “sell” rating in a report on Friday. The Goldman Sachs Group lifted their price objective on Western Digital from $58.00 to $76.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, Susquehanna lifted their price objective on Western Digital from $80.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, June 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.09.

Western Digital 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.