Lindbrook Capital LLC Boosts Stock Holdings in Western Digital Co. (NASDAQ:WDC)

Lindbrook Capital LLC raised its holdings in shares of Western Digital Co. (NASDAQ:WDC) by 121.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 614 shares of the data storage provider’s stock after buying an additional 337 shares during the period. Lindbrook Capital LLC’s holdings in Western Digital were worth $32,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Naples Money Management LLC bought a new position in shares of Western Digital during the fourth quarter valued at about $26,000. Parkside Financial Bank & Trust lifted its holdings in 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 buying an additional 330 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in shares of Western Digital during the third quarter valued at approximately $41,000. CVA Family Office LLC purchased a new position in shares of Western Digital during the fourth quarter valued at approximately $41,000. Finally, Tobam purchased a new position in shares of Western Digital during the fourth quarter valued at approximately $61,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Western Digital Trading Up 2.8 %

WDC opened at $71.36 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.67. Western Digital Co. has a fifty-two week low of $32.01 and a fifty-two week high of $76.92. The firm’s fifty day moving average is $65.08 and its 200 day moving average is $54.96.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, April 25th. The data storage provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.21 by $0.42. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.37 billion. Western Digital had a negative net margin of 12.87% and a negative return on equity of 13.67%. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.57) EPS. Research analysts forecast that Western Digital Co. will post -2.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WDC. Morgan Stanley lifted their target price on shares of Western Digital from $83.00 to $86.00 and gave the company an “overweight” rating in a report on Friday. Mizuho lifted their target price on shares of Western Digital from $66.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. TD Cowen raised their price target on shares of Western Digital from $50.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Raymond James downgraded shares of Western Digital from an “outperform” rating to a “market perform” rating in a research report on Monday, April 22nd. Finally, Barclays lifted their target price on shares of Western Digital from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Western Digital currently has a consensus rating of “Moderate Buy” and an average target price of $77.25.

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.