Walleye Capital LLC Buys 1,377 Shares of Western Digital Co. (NASDAQ:WDC)

Walleye Capital LLC raised its stake in shares of Western Digital Co. (NASDAQ:WDCGet Rating) by 5.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 25,501 shares of the data storage provider’s stock after purchasing an additional 1,377 shares during the period. Walleye Capital LLC’s holdings in Western Digital were worth $1,266,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Western Digital by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,414,181 shares of the data storage provider’s stock valued at $157,429,000 after acquiring an additional 93,218 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Western Digital in the 4th quarter worth approximately $17,341,000. Mission Wealth Management LP bought a new position in Western Digital in the 4th quarter worth approximately $219,000. Level Four Advisory Services LLC grew its holdings in Western Digital by 7.7% during the 4th quarter. Level Four Advisory Services LLC now owns 13,287 shares of the data storage provider’s stock valued at $866,000 after buying an additional 949 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Western Digital by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 6,308,135 shares of the data storage provider’s stock valued at $410,390,000 after buying an additional 343,751 shares in the last quarter. Institutional investors own 84.57% of the company’s stock.

Insider Transactions at Western Digital

In other news, SVP Gene M. Zamiska sold 2,169 shares of the stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $40.90, for a total transaction of $88,712.10. Following the transaction, the senior vice president now owns 31,554 shares of the company’s stock, valued at approximately $1,290,558.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.17% of the company’s stock.

Western Digital Trading Down 1.5 %

NASDAQ WDC opened at $37.22 on Monday. The company’s 50-day moving average price is $45.88 and its 200-day moving average price is $49.51. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 0.57. The stock has a market cap of $11.71 billion, a PE ratio of 7.84 and a beta of 1.51. Western Digital Co. has a 12 month low of $36.31 and a 12 month high of $69.36.

Western Digital (NASDAQ:WDCGet Rating) last posted its quarterly earnings results on Friday, August 5th. The data storage provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.27. Western Digital had a net margin of 7.98% and a return on equity of 19.15%. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the previous year, the firm posted $1.96 earnings per share. The company’s revenue was down 8.0% on a year-over-year basis. Equities research analysts forecast that Western Digital Co. will post 2.61 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WDC. Benchmark lowered shares of Western Digital from a “hold” rating to a “sell” rating and set a $34.00 target price for the company. in a research report on Thursday, September 1st. Rosenblatt Securities dropped their price objective on shares of Western Digital from $45.00 to $35.00 and set a “neutral” rating for the company in a report on Friday. Barclays reduced their price objective on Western Digital from $65.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 20th. Robert W. Baird reduced their price objective on Western Digital from $75.00 to $55.00 in a research note on Monday, August 8th. Finally, The Goldman Sachs Group reduced their price objective on Western Digital from $62.00 to $50.00 in a research note on Friday, July 15th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $58.05.

Western Digital Profile

(Get Rating)

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 computing devices, such as desktop and notebook personal computers (PCs), smart video systems, gaming consoles, and set top boxes; 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; and flash-based memory wafers.

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Institutional Ownership by Quarter for Western Digital (NASDAQ:WDC)

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