Western Digital Co. (NASDAQ:WDC) Shares Sold by Smith Graham & Co. Investment Advisors LP

Smith Graham & Co. Investment Advisors LP cut its position in shares of Western Digital Co. (NASDAQ:WDCFree Report) by 16.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 85,976 shares of the data storage provider’s stock after selling 17,397 shares during the quarter. Smith Graham & Co. Investment Advisors LP’s holdings in Western Digital were worth $4,503,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in Western Digital by 93.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,663,972 shares of the data storage provider’s stock worth $651,948,000 after buying an additional 9,961,971 shares in the last quarter. Nomura Holdings Inc. increased its position in Western Digital by 242.7% during the first quarter. Nomura Holdings Inc. now owns 10,606,474 shares of the data storage provider’s stock worth $399,546,000 after buying an additional 7,511,896 shares in the last quarter. Norges Bank purchased a new position in Western Digital during the fourth quarter worth $89,074,000. Renaissance Technologies LLC increased its position in Western Digital by 445.6% during the first quarter. Renaissance Technologies LLC now owns 1,451,033 shares of the data storage provider’s stock worth $72,044,000 after buying an additional 1,185,100 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. increased its position in Western Digital by 29.3% during the third quarter. Maple Rock Capital Partners Inc. now owns 2,486,333 shares of the data storage provider’s stock worth $113,451,000 after buying an additional 563,232 shares in the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WDC has been the subject of several recent research reports. Barclays raised their price target on Western Digital from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Cantor Fitzgerald lifted their price objective on Western Digital from $70.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Susquehanna lifted their price objective on Western Digital from $68.00 to $83.00 and gave the company a “neutral” rating in a research report on Wednesday. StockNews.com downgraded Western Digital from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. Finally, Evercore ISI began coverage on Western Digital in a research report on Wednesday, March 27th. They issued an “outperform” rating and a $80.00 price objective for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $69.78.

Get Our Latest Research Report on WDC

Insiders Place Their Bets

In related news, Director Kimberly Alexy sold 2,648 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.95, for a total value of $185,227.60. Following the completion of the transaction, the director now owns 20,509 shares of the company’s stock, valued at $1,434,604.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Gene M. Zamiska sold 443 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $75.00, for a total value of $33,225.00. Following the completion of the transaction, the senior vice president now owns 30,958 shares of the company’s stock, valued at $2,321,850. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimberly Alexy sold 2,648 shares of the 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 completion of the transaction, the director now directly owns 20,509 shares of the company’s stock, valued at approximately $1,434,604.55. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by insiders.

Western Digital Trading Down 2.5 %

Shares of WDC opened at $72.06 on Friday. The stock’s 50-day moving average is $62.56 and its two-hundred day moving average is $53.29. Western Digital Co. has a 12 month low of $31.97 and a 12 month high of $76.92. 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 (NASDAQ:WDCGet Free Report) last issued its quarterly earnings data on Monday, January 29th. The data storage provider reported ($0.69) EPS for the quarter, topping analysts’ consensus estimates of ($1.30) by $0.61. The company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3 billion. Western Digital had a negative return on equity of 19.45% and a negative net margin of 19.90%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.69) earnings per share. On average, research analysts anticipate that Western Digital Co. will post -2.31 earnings per share for the current fiscal year.

Western Digital Profile

(Free Report)

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.

Further Reading

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

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