Strategic Financial Concepts LLC Makes New Investment in Western Digital Co. (NASDAQ:WDC)

Strategic Financial Concepts LLC acquired a new position in shares of Western Digital Co. (NASDAQ:WDC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 12,636 shares of the data storage provider’s stock, valued at approximately $957,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in shares of Western Digital during the 1st quarter valued at $25,000. Fidelis Capital Partners LLC bought a new stake in shares of Western Digital during the 1st quarter valued at $30,000. SOA Wealth Advisors LLC. bought a new stake in shares of Western Digital during the 1st quarter valued at $31,000. OFI Invest Asset Management bought a new stake in shares of Western Digital during the 2nd quarter valued at $34,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Western Digital during the 2nd quarter valued at $34,000. Institutional investors own 92.51% of the company’s stock.

Insider Transactions at Western Digital

In other news, SVP Gene M. Zamiska sold 417 shares of the 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 approximately $1,873,374.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 directly owns 28,870 shares in the company, valued at approximately $1,873,374.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Gene M. Zamiska sold 2,169 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were 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 of the company’s stock, valued at $2,019,957.96. The disclosure for this sale can be found here. Insiders sold a total of 18,174 shares of company stock worth $1,070,642 in the last three months. Insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on WDC shares. Loop Capital upped their price objective on shares of Western Digital from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Summit Insights cut shares of Western Digital from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 price objective on shares of Western Digital in a research report on Thursday, August 1st. Mizuho upped their price objective on shares of Western Digital from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, Evercore ISI restated an “outperform” rating and issued a $85.00 price objective on shares of Western Digital in a research report on Thursday, August 15th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.18.

Western Digital Price Performance

Western Digital stock opened at $60.77 on Monday. The firm has a 50-day moving average of $67.41 and a 200-day moving average of $69.22. Western Digital Co. has a one year low of $35.62 and a one year high of $81.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 1.32.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.17. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.77 billion. On average, equities analysts anticipate that Western Digital Co. will post 7.75 earnings per share for the current year.

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.