Quantitative Systematic Strategies LLC Boosts Stock Position in Western Digital Co. (NASDAQ:WDC)

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Quantitative Systematic Strategies LLC lifted its position in shares of Western Digital Co. (NASDAQ:WDC) by 44.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,465 shares of the data storage provider’s stock after purchasing an additional 2,285 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Western Digital were worth $273,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Valeo Financial Advisors LLC lifted its holdings in Western Digital by 2,219.2% in the second quarter. Valeo Financial Advisors LLC now owns 603 shares of the data storage provider’s stock worth $27,000 after buying an additional 577 shares during the period. Kore Private Wealth LLC lifted its holdings in Western Digital by 4,250.0% in the second quarter. Kore Private Wealth LLC now owns 609 shares of the data storage provider’s stock worth $26,000 after buying an additional 595 shares during the period. Flagship Harbor Advisors LLC lifted its holdings in Western Digital by 177.0% in the second quarter. Flagship Harbor Advisors LLC now owns 615 shares of the data storage provider’s stock worth $27,000 after buying an additional 393 shares during the period. Mizuho Securities Co. Ltd. purchased a new stake in Western Digital in the third quarter worth about $26,000. Finally, CX Institutional lifted its holdings in Western Digital by 338.2% in the third quarter. CX Institutional now owns 745 shares of the data storage provider’s stock worth $27,000 after buying an additional 575 shares during the period. Institutional investors own 78.49% of the company’s stock.

NASDAQ:WDC opened at $42.42 on Friday. The company has a current ratio of 2.05, a quick ratio of 1.36 and a debt-to-equity ratio of 0.97. Western Digital Co. has a 12 month low of $27.40 and a 12 month high of $72.00. The company has a market cap of $12.91 billion, a PE ratio of -49.91 and a beta of 1.49. The company has a 50 day simple moving average of $39.32 and a two-hundred day simple moving average of $40.46.

Western Digital (NASDAQ:WDC) last posted its earnings results on Wednesday, October 28th. The data storage provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.31. Western Digital had a negative net margin of 1.49% and a positive return on equity of 6.72%. Research analysts forecast that Western Digital Co. will post 1.69 earnings per share for the current year.

Several brokerages have commented on WDC. Summit Insights lowered shares of Western Digital from a “buy” rating to a “hold” rating in a report on Thursday, August 6th. Wells Fargo & Company lowered their price objective on shares of Western Digital from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, August 6th. Stifel Nicolaus decreased their target price on shares of Western Digital from $64.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. Royal Bank of Canada decreased their target price on shares of Western Digital from $70.00 to $57.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Finally, Mizuho decreased their target price on shares of Western Digital from $62.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, October 29th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $61.71.

Western Digital Company Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook personal computers (PCs), smart video systems, gaming consoles, and set top boxes; 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; flash-based memory wafers; and embedded storage solutions and flash products.

See Also: Technical Analysis

Institutional Ownership by Quarter for Western Digital (NASDAQ:WDC)

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