Prime Capital Investment Advisors LLC Makes New Investment in Western Digital Co. (NASDAQ:WDC)

Prime Capital Investment Advisors LLC bought a new position in Western Digital Co. (NASDAQ:WDC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,951 shares of the data storage provider’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds have also modified their holdings of WDC. Janiczek Wealth Management LLC bought a new stake in shares of Western Digital in the third quarter worth $28,000. ST Germain D J Co. Inc. bought a new stake in shares of Western Digital in the second quarter worth $26,000. Parkside Financial Bank & Trust grew its holdings in shares of Western Digital by 79.1% in the third quarter. Parkside Financial Bank & Trust now owns 747 shares of the data storage provider’s stock worth $34,000 after acquiring an additional 330 shares during the period. CVA Family Office LLC bought a new stake in shares of Western Digital in the fourth quarter worth $41,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Western Digital during the third quarter valued at $41,000. Institutional investors own 92.51% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Gene M. Zamiska sold 443 shares of the company’s 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Gene M. Zamiska sold 443 shares of the company’s 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kimberly Alexy sold 2,648 shares of the company’s 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. 0.28% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Susquehanna lifted their target price on Western Digital from $68.00 to $83.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Morgan Stanley lifted their target price on Western Digital from $52.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, January 22nd. StockNews.com downgraded Western Digital from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. Rosenblatt Securities upgraded Western Digital from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th. Finally, UBS Group boosted their price objective on Western Digital from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $69.78.

Western Digital Trading Down 2.5 %

Shares of NASDAQ WDC opened at $72.06 on Monday. The business’s 50 day moving average is $62.56 and its two-hundred day moving average is $53.42. 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 1-year low of $31.97 and a 1-year high of $76.92. The stock has a market capitalization of $23.48 billion, a P/E ratio of -10.11 and a beta of 1.57.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Monday, January 29th. The data storage provider reported ($0.69) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same period in the previous year, the firm posted ($0.69) earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, research analysts expect that Western Digital Co. will post -2.31 EPS for the current year.

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.