Oppenheimer & Co. Inc. Has $462,000 Stock Holdings in Western Digital Co. (NASDAQ:WDC)

Oppenheimer & Co. Inc. reduced its holdings in shares of Western Digital Co. (NASDAQ:WDC) by 5.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,758 shares of the data storage provider’s stock after selling 366 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Western Digital were worth $462,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. DNB Asset Management AS increased its position in shares of Western Digital by 2.7% during the second quarter. DNB Asset Management AS now owns 7,857,586 shares of the data storage provider’s stock valued at $595,369,000 after acquiring an additional 206,756 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Western Digital by 5.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,881,847 shares of the data storage provider’s stock worth $218,400,000 after acquiring an additional 143,074 shares during the period. Bank of New York Mellon Corp lifted its holdings in Western Digital by 39.6% during the second quarter. Bank of New York Mellon Corp now owns 2,861,229 shares of the data storage provider’s stock valued at $216,795,000 after purchasing an additional 810,977 shares during the last quarter. AGF Management Ltd. raised its position in shares of Western Digital by 28,925.8% in the second quarter. AGF Management Ltd. now owns 2,202,190 shares of the data storage provider’s stock valued at $166,860,000 after purchasing an additional 2,194,603 shares during the period. Finally, 1832 Asset Management L.P. grew its stake in Western Digital by 247.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,446,509 shares of the data storage provider’s stock valued at $109,602,000 after buying an additional 1,029,658 shares in the last quarter. 92.51% of the stock is owned by institutional investors.

Western Digital Trading Down 2.2 %

NASDAQ:WDC opened at $63.84 on Thursday. Western Digital Co. has a one year low of $46.05 and a one year high of $81.55. The company’s 50-day simple moving average is $66.40 and its 200 day simple moving average is $69.18. The firm has a market capitalization of $22.07 billion, a P/E ratio of 37.55 and a beta of 1.40. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.91.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results 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 company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the prior year, the business posted ($1.97) EPS. The firm’s quarterly revenue was up 48.9% compared to the same quarter last year. As a group, analysts forecast that Western Digital Co. will post 6.56 EPS for the current fiscal year.

Insider Buying and Selling

In other Western Digital news, EVP Robert Soderbery sold 30,767 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $68.01, for a total transaction of $2,092,463.67. Following the transaction, the executive vice president now owns 135,398 shares in the company, valued at approximately $9,208,417.98. This represents a 18.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Gene M. Zamiska sold 2,900 shares of Western Digital stock in a transaction that occurred on 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 sale, the senior vice president now owns 37,448 shares of the company’s stock, valued at $2,302,303.04. This represents a 7.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 188,144 shares of company stock worth $13,281,983 in the last quarter. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Evercore ISI restated an “outperform” rating and issued a $85.00 target price on shares of Western Digital in a research note on Thursday, August 15th. The Goldman Sachs Group lowered their price objective on shares of Western Digital from $79.00 to $72.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. UBS Group dropped their target price on Western Digital from $74.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. BNP Paribas cut their price target on shares of Western Digital from $95.00 to $90.00 in a research report on Thursday, October 24th. Finally, Benchmark reiterated a “buy” rating and issued a $92.00 price objective on shares of Western Digital in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.71.

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.