Western Digital Co. (NASDAQ:WDC) Shares Bought by Ieq Capital LLC

Ieq Capital LLC grew its holdings in Western Digital Co. (NASDAQ:WDC) by 83.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,634 shares of the data storage provider’s stock after acquiring an additional 14,432 shares during the quarter. Ieq Capital LLC’s holdings in Western Digital were worth $1,886,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. First Horizon Advisors Inc. grew its stake in Western Digital by 5.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 2,929 shares of the data storage provider’s stock valued at $200,000 after purchasing an additional 149 shares during the last quarter. Mather Group LLC. lifted its holdings in shares of Western Digital by 7.0% during the fourth quarter. Mather Group LLC. now owns 2,416 shares of the data storage provider’s stock worth $144,000 after purchasing an additional 159 shares during the period. Vontobel Holding Ltd. boosted its position in Western Digital by 1.4% in the fourth quarter. Vontobel Holding Ltd. now owns 11,804 shares of the data storage provider’s stock valued at $704,000 after buying an additional 164 shares during the last quarter. Quarry LP increased its holdings in Western Digital by 22.6% in the 3rd quarter. Quarry LP now owns 932 shares of the data storage provider’s stock worth $64,000 after buying an additional 172 shares during the period. Finally, Inspire Investing LLC raised its position in Western Digital by 4.3% during the 4th quarter. Inspire Investing LLC now owns 4,324 shares of the data storage provider’s stock worth $258,000 after buying an additional 177 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Analysts Set New Price Targets

WDC has been the topic of several recent research reports. Wells Fargo & Company dropped their price objective on shares of Western Digital from $95.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $95.00 price target on shares of Western Digital in a report on Tuesday, February 18th. Morgan Stanley reduced their price objective on Western Digital from $100.00 to $93.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Rosenblatt Securities lowered their target price on Western Digital from $115.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Barclays reduced their price target on Western Digital from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $84.42.

Western Digital Stock Down 3.6 %

NASDAQ WDC opened at $68.71 on Monday. The business has a fifty day moving average price of $64.78 and a 200 day moving average price of $65.66. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99. The company has a market cap of $23.90 billion, a P/E ratio of 16.36 and a beta of 1.44. Western Digital Co. has a one year low of $52.77 and a one year high of $81.55.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a net margin of 9.95% and a return on equity of 15.68%. Research analysts anticipate that Western Digital Co. will post 4.89 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Gene M. Zamiska sold 658 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total value of $46,053.42. Following the transaction, the senior vice president now directly owns 28,863 shares in the company, valued at approximately $2,020,121.37. This represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.30% of the stock is currently owned by corporate insiders.

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.