Western Digital Co. (NASDAQ:WDC) Shares Bought by Cerity Partners LLC

Cerity Partners LLC raised its position in Western Digital Co. (NASDAQ:WDC) by 634.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 93,926 shares of the data storage provider’s stock after acquiring an additional 81,137 shares during the period. Cerity Partners LLC’s holdings in Western Digital were worth $4,919,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Janiczek Wealth Management LLC acquired a new position in shares of Western Digital in the 3rd quarter worth approximately $28,000. Parkside Financial Bank & Trust lifted its holdings in shares of Western Digital by 79.1% in the 3rd 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 last quarter. CVA Family Office LLC acquired a new position in shares of Western Digital in the 4th quarter worth approximately $41,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Western Digital in the 3rd quarter worth approximately $41,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Western Digital during the 1st quarter worth approximately $57,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Stock Up 0.9 %

NASDAQ WDC opened at $71.06 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.67 and a debt-to-equity ratio of 0.73. The firm’s fifty day moving average price is $63.05 and its 200 day moving average price is $53.77. Western Digital Co. has a 12 month low of $31.97 and a 12 month high of $76.92.

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

Insider Buying and Selling

In other news, SVP Gene M. Zamiska sold 443 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $75.00, for a total value of $33,225.00. Following the completion of the sale, the senior vice president now owns 30,958 shares in the company, valued at approximately $2,321,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Kimberly Alexy sold 2,648 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 20,509 shares in the company, valued at approximately $1,434,604.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Gene M. Zamiska sold 443 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now owns 30,958 shares of the company’s stock, valued at approximately $2,321,850. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Mizuho upped their target price on shares of Western Digital from $66.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Evercore ISI assumed coverage on shares of Western Digital in a research note on Wednesday, March 27th. They set an “outperform” rating and a $80.00 target price on the stock. UBS Group upped their target price on shares of Western Digital from $65.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday. Morgan Stanley upped their target price on shares of Western Digital from $52.00 to $73.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. Finally, Susquehanna upped their target price on shares of Western Digital from $68.00 to $83.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.61.

Western Digital Profile

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.