Los Angeles Capital Management LLC Sells 52,362 Shares of Western Digital Co. (NASDAQ:WDC)

Los Angeles Capital Management LLC decreased its holdings in Western Digital Co. (NASDAQ:WDCGet Rating) by 72.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,073 shares of the data storage provider’s stock after selling 52,362 shares during the period. Los Angeles Capital Management LLC’s holdings in Western Digital were worth $900,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Addison Advisors LLC boosted its stake in Western Digital by 6,375.0% during the first quarter. Addison Advisors LLC now owns 518 shares of the data storage provider’s stock valued at $26,000 after buying an additional 510 shares during the last quarter. Clear Street Markets LLC boosted its stake in Western Digital by 411.7% during the second quarter. Clear Street Markets LLC now owns 655 shares of the data storage provider’s stock valued at $29,000 after buying an additional 527 shares during the last quarter. TCI Wealth Advisors Inc. boosted its stake in Western Digital by 368.3% during the second quarter. TCI Wealth Advisors Inc. now owns 679 shares of the data storage provider’s stock valued at $30,000 after buying an additional 534 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in Western Digital during the second quarter valued at approximately $34,000. Finally, Herold Advisors Inc. bought a new position in Western Digital during the first quarter valued at approximately $40,000. Institutional investors own 84.57% of the company’s stock.

Western Digital Trading Down 0.3 %

WDC opened at $36.52 on Wednesday. The stock’s fifty day moving average is $36.42 and its two-hundred day moving average is $46.04. The company has a market capitalization of $11.60 billion, a P/E ratio of 12.59 and a beta of 1.53. Western Digital Co. has a 52 week low of $31.56 and a 52 week high of $69.36. The company has a quick ratio of 1.05, a current ratio of 1.83 and a debt-to-equity ratio of 0.58.

Analysts Set New Price Targets

Several research firms have recently issued reports on WDC. Citigroup lowered their price objective on Western Digital from $60.00 to $45.00 in a research note on Monday, October 31st. The Goldman Sachs Group lowered their price objective on Western Digital from $50.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, September 23rd. Wells Fargo & Company lowered their price objective on Western Digital from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, July 14th. Rosenblatt Securities lowered their price objective on Western Digital from $45.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, September 16th. Finally, BNP Paribas began coverage on Western Digital in a research note on Tuesday, September 13th. They issued an “underperform” rating and a $30.00 price objective for the company. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $49.81.

Insiders Place Their Bets

In other Western Digital news, SVP Gene M. Zamiska sold 2,169 shares of the firm’s 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 directly owns 31,554 shares in the company, valued at approximately $1,290,558.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

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.

See Also

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

Receive News & Ratings for Western Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Digital and related companies with MarketBeat.com's FREE daily email newsletter.