Nisa Investment Advisors LLC Purchases 761 Shares of Western Digital Co. (NASDAQ:WDC)

Nisa Investment Advisors LLC grew its position in shares of Western Digital Co. (NASDAQ:WDC) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,246 shares of the data storage provider’s stock after buying an additional 761 shares during the period. Nisa Investment Advisors LLC’s holdings in Western Digital were worth $4,464,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. American Century Companies Inc. boosted its stake in 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 Western Digital in the first quarter valued at about $57,000. Acadian Asset Management LLC boosted its stake in 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 boosted its stake in 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 boosted its stake in shares of Western Digital by 1.9% during 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 purchasing an additional 3,642 shares in the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

Western Digital Trading Up 2.3 %

Shares of Western Digital stock opened at $73.90 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.67 and a quick ratio of 0.98. Western Digital Co. has a 52 week low of $31.97 and a 52 week high of $76.92. The stock has a 50 day moving average price of $62.28 and a two-hundred day moving average price of $53.10.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Monday, January 29th. The data storage provider reported ($0.69) EPS for the quarter, beating analysts’ consensus estimates of ($1.30) by $0.61. Western Digital had a negative return on equity of 19.45% and a negative net margin of 19.90%. The firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same quarter last year, the firm posted ($0.69) earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. Sell-side analysts forecast that Western Digital Co. will post -2.31 earnings per share for the current year.

Insider Buying and Selling at Western Digital

In related news, SVP Gene M. Zamiska sold 443 shares of Western Digital stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $75.00, for a total transaction of $33,225.00. Following the transaction, the senior vice president now owns 30,958 shares of the company’s stock, valued at $2,321,850. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Gene M. Zamiska sold 443 shares of Western Digital stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $75.00, for a total transaction of $33,225.00. Following the transaction, the senior vice president now owns 30,958 shares of the company’s stock, valued at $2,321,850. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kimberly Alexy sold 2,648 shares of Western Digital stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $69.95, for a total value of $185,227.60. Following the transaction, the director now directly owns 20,509 shares in the company, valued at approximately $1,434,604.55. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

WDC has been the topic of a number of recent research reports. Mizuho lifted their price target on Western Digital from $66.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley raised their price objective on Western Digital from $52.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, January 22nd. TD Cowen raised their price objective on Western Digital from $50.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Rosenblatt Securities upgraded Western Digital from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th. Finally, Susquehanna raised their price objective on Western Digital from $68.00 to $83.00 and gave the stock a “neutral” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $68.78.

About Western Digital

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.