Virtu Financial LLC Purchases New Shares in Western Digital Co. (NASDAQ:WDC)

Virtu Financial LLC bought a new position in Western Digital Co. (NASDAQ:WDC) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 15,801 shares of the data storage provider’s stock, valued at approximately $1,197,000.

Other large investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its stake in Western Digital by 1.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 15,962 shares of the data storage provider’s stock worth $1,209,000 after purchasing an additional 203 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in shares of Western Digital by 15.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,527 shares of the data storage provider’s stock worth $116,000 after acquiring an additional 206 shares in the last quarter. Mather Group LLC. lifted its position in Western Digital by 10.7% during the 2nd quarter. Mather Group LLC. now owns 2,203 shares of the data storage provider’s stock valued at $167,000 after acquiring an additional 213 shares during the period. Lindbrook Capital LLC boosted its stake in Western Digital by 37.3% during the first quarter. Lindbrook Capital LLC now owns 843 shares of the data storage provider’s stock worth $58,000 after acquiring an additional 229 shares in the last quarter. Finally, Hanseatic Management Services Inc. grew its holdings in Western Digital by 2.3% in the second quarter. Hanseatic Management Services Inc. now owns 10,344 shares of the data storage provider’s stock worth $784,000 after purchasing an additional 236 shares during the period. Institutional investors own 92.51% of the company’s stock.

Western Digital Trading Down 2.2 %

Shares of WDC stock opened at $64.42 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 has a market cap of $22.13 billion, a price-to-earnings ratio of -12.96 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. The firm has a fifty day moving average price of $65.47 and a 200-day moving average price of $69.50.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Wednesday, July 31st. The data storage provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.77 billion. As a group, equities analysts predict that Western Digital Co. will post 7.75 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on WDC shares. StockNews.com raised Western Digital from a “sell” rating to a “hold” rating in a research report on Saturday, July 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $80.00 target price on shares of Western Digital in a research note on Tuesday, September 10th. Loop Capital lifted their price target on Western Digital from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Wedbush increased their price objective on shares of Western Digital from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $115.00 target price on shares of Western Digital in a report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Western Digital currently has an average rating of “Moderate Buy” and a consensus price target of $83.05.

Insider Buying and Selling

In other Western Digital news, SVP Gene M. Zamiska sold 2,169 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $61.96, for a total value of $134,391.24. Following the completion of the transaction, the senior vice president now directly owns 32,601 shares in the company, valued at $2,019,957.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Robert Soderbery sold 12,154 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $57.09, for a total value of $693,871.86. Following the transaction, the executive vice president now directly owns 128,413 shares of the company’s stock, valued at approximately $7,331,098.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Gene M. Zamiska sold 2,169 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $61.96, for a total transaction of $134,391.24. Following the sale, the senior vice president now directly owns 32,601 shares of the company’s stock, valued at $2,019,957.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,955 shares of company stock valued at $1,053,560. 0.28% of the stock is owned by corporate insiders.

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.