EverSource Wealth Advisors LLC Grows Stock Holdings in Western Digital Co. (NASDAQ:WDC)

EverSource Wealth Advisors LLC boosted its holdings in Western Digital Co. (NASDAQ:WDC) by 78.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,896 shares of the data storage provider’s stock after buying an additional 1,274 shares during the period. EverSource Wealth Advisors LLC’s holdings in Western Digital were worth $219,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of WDC. Rise Advisors LLC bought a new position in shares of Western Digital in the first quarter worth about $25,000. Fairfield Financial Advisors LTD purchased a new position in Western Digital in the 2nd quarter worth approximately $29,000. Fidelis Capital Partners LLC bought a new position in Western Digital in the 1st quarter worth approximately $30,000. SOA Wealth Advisors LLC. purchased a new stake in Western Digital during the 1st quarter valued at approximately $31,000. Finally, OFI Invest Asset Management bought a new stake in shares of Western Digital during the second quarter valued at approximately $34,000. 92.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Mizuho upped 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. Wedbush raised their price objective on Western Digital from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Evercore ISI reaffirmed an “outperform” rating and issued a $85.00 target price on shares of Western Digital in a report on Thursday, August 15th. Loop Capital increased their price target on Western Digital from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Finally, Benchmark lifted their price objective on Western Digital from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Western Digital currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.24.

Western Digital Trading Down 0.7 %

Shares of WDC opened at $66.00 on Thursday. The firm has a market capitalization of $22.67 billion, a price-to-earnings ratio of -13.28 and a beta of 1.39. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.32 and a quick ratio of 0.78. Western Digital Co. has a 1-year low of $35.62 and a 1-year high of $81.55. The company has a 50-day moving average of $64.10 and a 200 day moving average of $69.54.

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

Insider Transactions at Western Digital

In related news, SVP Gene M. Zamiska sold 2,169 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 32,601 shares of the company’s stock, valued at $2,019,957.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Gene M. Zamiska sold 2,169 shares of the business’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 owns 32,601 shares of the company’s stock, valued at $2,019,957.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert Soderbery sold 12,154 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $57.09, for a total value of $693,871.86. Following the sale, the executive vice president now directly owns 128,413 shares in the company, valued at approximately $7,331,098.17. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,955 shares of company stock valued at $1,053,560. 0.28% of the stock is currently owned by corporate insiders.

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.