Versor Investments LP Takes Position in Western Digital Co. (NASDAQ:WDC)

Versor Investments LP purchased a new position in shares of Western Digital Co. (NASDAQ:WDC) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,148 shares of the data storage provider’s stock, valued at approximately $390,000.

Several other large investors have also made changes to their positions in the company. Rise Advisors LLC acquired a new position in Western Digital during the first quarter worth about $25,000. Fidelis Capital Partners LLC acquired a new stake in Western Digital in the first quarter valued at approximately $30,000. 1620 Investment Advisors Inc. bought a new stake in shares of Western Digital during the second quarter worth $34,000. SOA Wealth Advisors LLC. acquired a new position in shares of Western Digital during the first quarter worth $31,000. Finally, OFI Invest Asset Management bought a new position in shares of Western Digital in the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wedbush upped their target price on Western Digital from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Summit Insights downgraded Western Digital from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Mizuho lifted their target price on shares of Western Digital from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Rosenblatt Securities restated a “buy” rating and issued a $115.00 price target on shares of Western Digital in a research report on Thursday, August 1st. Finally, StockNews.com upgraded shares of Western Digital from a “sell” rating to a “hold” rating in a report on Saturday, July 6th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.18.

Western Digital Stock Down 0.5 %

Shares of NASDAQ WDC opened at $62.61 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.53. The firm has a market cap of $20.44 billion, a PE ratio of -12.60 and a beta of 1.39. The company’s fifty day simple moving average is $67.71 and its 200 day simple moving average is $68.96. Western Digital Co. has a 12-month low of $35.62 and a 12-month 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 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.17. The firm had revenue of $3.76 billion for the quarter, compared to analyst estimates 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, sell-side analysts forecast that Western Digital Co. will post 8.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Western Digital

In other news, SVP Gene M. Zamiska sold 417 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 28,870 shares of the company’s stock, valued at $1,873,374.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Gene M. Zamiska sold 2,169 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $61.96, for a total transaction of $134,391.24. Following the completion of the sale, the senior vice president now owns 32,601 shares in the company, valued at approximately $2,019,957.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,174 shares of company stock valued at $1,070,642. 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.