Western Digital Co. (NASDAQ:WDC) Stake Cut by Strategy Asset Managers LLC

Strategy Asset Managers LLC decreased its holdings in shares of Western Digital Co. (NASDAQ:WDC) by 11.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,758 shares of the data storage provider’s stock after selling 877 shares during the period. Strategy Asset Managers LLC’s holdings in Western Digital were worth $403,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Versant Capital Management Inc boosted its holdings in shares of Western Digital by 278.9% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock valued at $25,000 after buying an additional 304 shares during the period. Sierra Ocean LLC bought a new position in Western Digital in the fourth quarter worth about $29,000. True Wealth Design LLC boosted its stake in Western Digital by 2,184.2% in the third quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock valued at $30,000 after acquiring an additional 415 shares during the period. Comprehensive Financial Planning Inc. PA bought a new position in shares of Western Digital during the fourth quarter valued at approximately $30,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Western Digital during the 4th quarter worth approximately $36,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $41.36, for a total value of $68,616.24. Following the completion of the transaction, the senior vice president now directly owns 43,776 shares in the company, valued at $1,810,575.36. This trade represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.30% of the stock is owned by insiders.

Western Digital Stock Performance

NASDAQ:WDC opened at $40.62 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average of $55.69 and a 200-day moving average of $62.41. Western Digital Co. has a twelve month low of $39.42 and a twelve month high of $81.55. The firm has a market cap of $14.13 billion, a price-to-earnings ratio of 9.67 and a beta of 1.42.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results 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 return on equity of 15.68% and a net margin of 9.95%. Analysts forecast that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Benchmark lowered Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price objective for the company. in a research report on Thursday, December 19th. Bank of America reduced their price target on shares of Western Digital from $89.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, January 16th. StockNews.com cut shares of Western Digital from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Cantor Fitzgerald cut their price objective on shares of Western Digital from $95.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Finally, Rosenblatt Securities decreased their target price on shares of Western Digital from $115.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.21.

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.