Western Digital Co. (NASDAQ:WDC) Shares Sold by Kestra Advisory Services LLC

Kestra Advisory Services LLC decreased its holdings in shares of Western Digital Co. (NASDAQ:WDCGet Rating) by 5.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 32,579 shares of the data storage provider’s stock after selling 1,952 shares during the quarter. Kestra Advisory Services LLC’s holdings in Western Digital were worth $1,060,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in shares of Western Digital by 292.1% in the first quarter. American Century Companies Inc. now owns 30,302 shares of the data storage provider’s stock valued at $1,504,000 after buying an additional 22,573 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Western Digital in the first quarter valued at $57,000. Acadian Asset Management LLC grew its stake in shares of Western Digital by 1,535.0% in the first quarter. Acadian Asset Management LLC now owns 8,649 shares of the data storage provider’s stock valued at $426,000 after buying an additional 8,120 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Western Digital by 7.0% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 41,869 shares of the data storage provider’s stock valued at $2,079,000 after buying an additional 2,755 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in shares of Western Digital by 1.9% in the first quarter. Great West Life Assurance Co. Can now owns 197,219 shares of the data storage provider’s stock valued at $10,331,000 after buying an additional 3,642 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Western Digital Stock Down 1.7 %

Western Digital stock opened at $41.10 on Wednesday. Western Digital Co. has a fifty-two week low of $29.73 and a fifty-two week high of $63.26. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.05 and a current ratio of 1.83. The company has a market capitalization of $13.06 billion, a P/E ratio of 14.17 and a beta of 1.57. The stock has a 50-day simple moving average of $35.20 and a 200-day simple moving average of $38.92.

Western Digital (NASDAQ:WDCGet Rating) last posted its earnings results on Thursday, October 27th. The data storage provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.10). The firm had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.63 billion. Western Digital had a net margin of 5.25% and a return on equity of 12.93%. Equities research analysts expect that Western Digital Co. will post -1.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wedbush dropped their price objective on Western Digital from $70.00 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday, October 25th. Robert W. Baird lowered their target price on Western Digital from $55.00 to $50.00 in a research note on Monday, October 31st. StockNews.com cut Western Digital from a “hold” rating to a “sell” rating in a research note on Monday, October 31st. Craig Hallum lowered their target price on Western Digital from $85.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, October 4th. Finally, Mizuho lowered their target price on Western Digital from $40.00 to $38.00 and set a “neutral” rating for the company in a research note on Tuesday, November 29th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $49.71.

About Western Digital

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Western Digital Corp. engages in the development, manufacture, marketing, and sale of data storage devices and solutions. It operates through the Flash and Hard Disk Drive segments. The Flash segment represents flash-based data storage devices. The Hard Disk Drive segment provides hard disk storage solutions.

See Also

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

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