Raymond James Financial Services Advisors Inc. Has $656,000 Position in Western Digital Co. (NASDAQ:WDC)

Raymond James Financial Services Advisors Inc. lowered its position in Western Digital Co. (NASDAQ:WDC) by 10.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,530 shares of the data storage provider’s stock after selling 1,524 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Western Digital were worth $656,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Parkside Financial Bank & Trust increased its stake 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 valued at $34,000 after buying an additional 330 shares during the period. Natixis Advisors L.P. increased its stake in shares of Western Digital by 0.9% in the third quarter. Natixis Advisors L.P. now owns 37,156 shares of the data storage provider’s stock valued at $1,695,000 after buying an additional 338 shares during the period. Wahed Invest LLC increased its stake in shares of Western Digital by 7.3% in the third quarter. Wahed Invest LLC now owns 5,010 shares of the data storage provider’s stock valued at $229,000 after buying an additional 340 shares during the period. M Holdings Securities Inc. increased its stake in shares of Western Digital by 6.2% in the third quarter. M Holdings Securities Inc. now owns 6,735 shares of the data storage provider’s stock valued at $219,000 after buying an additional 395 shares during the period. Finally, Avior Wealth Management LLC increased its stake in shares of Western Digital by 20.8% in the third quarter. Avior Wealth Management LLC now owns 2,319 shares of the data storage provider’s stock valued at $106,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 92.51% of the company’s stock.

Western Digital Price Performance

Shares of NASDAQ:WDC opened at $70.17 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.67 and a debt-to-equity ratio of 0.73. Western Digital Co. has a twelve month low of $31.97 and a twelve month high of $76.92. The stock’s 50 day moving average is $63.30 and its 200-day moving average is $53.89. The firm has a market capitalization of $22.87 billion, a price-to-earnings ratio of -9.84 and a beta of 1.57.

Western Digital (NASDAQ:WDC) last issued its 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. 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 analyst estimates of $3 billion. During the same period in the prior year, the firm earned ($0.69) earnings per share. Western Digital’s revenue for the quarter was down 2.4% on a year-over-year basis. Sell-side analysts forecast that Western Digital Co. will post -2.31 EPS for the current fiscal year.

Insider Transactions at Western Digital

In related news, Director Kimberly Alexy sold 2,648 shares of the stock in a transaction on Monday, April 1st. The stock was 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 directly owns 20,509 shares of the company’s stock, valued at approximately $1,434,604.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Western Digital news, Director Kimberly Alexy sold 2,648 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.95, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction, the senior vice president now owns 30,958 shares in the company, valued at $2,321,850. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

WDC has been the topic of several analyst reports. Morgan Stanley upped their target price on Western Digital from $52.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, January 22nd. The Goldman Sachs Group upped their target price on Western Digital from $58.00 to $76.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Cantor Fitzgerald upped their target price on Western Digital from $70.00 to $100.00 and gave the company an “overweight” rating in a report on Monday, April 8th. UBS Group upped their target price on Western Digital from $65.00 to $80.00 and gave the company a “neutral” rating in a report on Monday. Finally, Evercore ISI initiated coverage on Western Digital in a report on Wednesday, March 27th. They issued an “outperform” rating and a $80.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Western Digital has an average rating of “Moderate Buy” and a consensus target price of $72.61.

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.