Amalgamated Bank Raises Position in Western Digital Co. (NASDAQ:WDC)

Amalgamated Bank increased its holdings in Western Digital Co. (NASDAQ:WDC) by 1.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 81,133 shares of the data storage provider’s stock after acquiring an additional 835 shares during the quarter. Amalgamated Bank’s holdings in Western Digital were worth $4,249,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in WDC. Naples Money Management LLC purchased a new position in Western Digital in the 4th quarter worth $26,000. Lindbrook Capital LLC raised its position in Western Digital by 121.7% in the 4th quarter. Lindbrook Capital LLC now owns 614 shares of the data storage provider’s stock worth $32,000 after purchasing an additional 337 shares during the period. Parkside Financial Bank & Trust raised its position in 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 purchasing an additional 330 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Western Digital in the 3rd quarter worth $41,000. Finally, CVA Family Office LLC purchased a new position in shares of Western Digital in the fourth quarter valued at about $41,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on WDC shares. Raymond James cut shares of Western Digital from an “outperform” rating to a “market perform” rating in a research report on Monday, April 22nd. Wells Fargo & Company lifted their target price on shares of Western Digital from $72.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Wedbush reaffirmed an “outperform” rating and set a $85.00 target price on shares of Western Digital in a research note on Friday, April 26th. Susquehanna lifted their target price on shares of Western Digital from $68.00 to $83.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Finally, 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 research note on Tuesday, April 9th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.76.

Insiders Place Their Bets

In other Western Digital news, SVP Gene M. Zamiska sold 443 shares of the stock in a transaction that occurred 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 directly owns 30,958 shares in the company, valued at $2,321,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $33,225.00. Following the sale, the senior vice president now directly owns 30,958 shares in the company, valued at approximately $2,321,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimberly Alexy sold 2,648 shares of Western Digital stock in a transaction that occurred 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 completion of 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 0.25% of the company’s stock.

Western Digital Stock Up 0.8 %

WDC opened at $72.04 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.86 and a debt-to-equity ratio of 0.72. The firm has a 50 day moving average price of $67.53 and a 200-day moving average price of $56.49. Western Digital Co. has a twelve month low of $32.01 and a twelve month high of $76.92. The stock has a market capitalization of $23.52 billion, a price-to-earnings ratio of -14.49 and a beta of 1.53.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Thursday, April 25th. The data storage provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.42. Western Digital had a negative net margin of 12.87% and a negative return on equity of 13.75%. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.37 billion. During the same period last year, the firm earned ($1.57) earnings per share. The company’s quarterly revenue was up 23.3% on a year-over-year basis. Equities research analysts forecast that Western Digital Co. will post -1.68 earnings per share for the current year.

Western Digital Company 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.