Western Digital Co. (NASDAQ:WDC) Shares Acquired by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. boosted its stake in shares of Western Digital Co. (NASDAQ:WDC) by 5.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 132,201 shares of the data storage provider’s stock after purchasing an additional 6,762 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Western Digital were worth $9,028,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Eastern Bank bought a new stake in Western Digital during the 3rd quarter valued at $27,000. Fairfield Financial Advisors LTD bought a new stake in Western Digital during the 2nd quarter valued at $29,000. OFI Invest Asset Management bought a new stake in Western Digital during the 2nd quarter valued at $34,000. 1620 Investment Advisors Inc. bought a new stake in Western Digital during the 2nd quarter valued at $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Western Digital during the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Western Digital Price Performance

Shares of NASDAQ:WDC opened at $70.44 on Friday. Western Digital Co. has a fifty-two week low of $42.65 and a fifty-two week high of $81.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.91. The stock has a market capitalization of $24.35 billion, a P/E ratio of 41.44 and a beta of 1.40. The business has a 50-day moving average of $66.12 and a two-hundred day moving average of $69.51.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, October 24th. The data storage provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.23. Western Digital had a return on equity of 8.57% and a net margin of 4.81%. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the previous year, the firm earned ($1.97) EPS. The firm’s revenue was up 48.9% compared to the same quarter last year. On average, equities research analysts predict that Western Digital Co. will post 6.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Gene M. Zamiska sold 2,900 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $61.48, for a total transaction of $178,292.00. Following the completion of the transaction, the senior vice president now owns 37,448 shares of the company’s stock, valued at approximately $2,302,303.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Western Digital news, SVP Gene M. Zamiska sold 417 shares of the firm’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 value of $27,059.13. Following the completion of the sale, the senior vice president now owns 28,870 shares in the company, valued at approximately $1,873,374.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Gene M. Zamiska sold 2,900 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $61.48, for a total value of $178,292.00. Following the completion of the sale, the senior vice president now owns 37,448 shares of the company’s stock, valued at $2,302,303.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 188,561 shares of company stock valued at $13,309,042. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

WDC has been the topic of a number of research reports. Rosenblatt Securities reissued a “buy” rating and issued a $115.00 price objective on shares of Western Digital in a research note on Friday, October 25th. Benchmark reissued a “buy” rating and issued a $92.00 price objective on shares of Western Digital in a research note on Friday, October 25th. Barclays boosted their price objective on Western Digital from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Susquehanna boosted their target price on Western Digital from $75.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Finally, Cantor Fitzgerald boosted their target price on Western Digital from $80.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $87.71.

Western Digital Company 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.