Parametrica Management Ltd Takes Position in Western Digital Co. (NASDAQ:WDC)

Parametrica Management Ltd acquired a new stake in shares of Western Digital Co. (NASDAQ:WDC) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 8,287 shares of the data storage provider’s stock, valued at approximately $566,000. Western Digital makes up about 0.7% of Parametrica Management Ltd’s holdings, making the stock its 29th largest position.

A number of other large investors have also recently made changes to their positions in the stock. Bessemer Group Inc. lifted its holdings in Western Digital by 28.6% in the 1st quarter. Bessemer Group Inc. now owns 2,619 shares of the data storage provider’s stock worth $179,000 after purchasing an additional 583 shares in the last quarter. Aigen Investment Management LP lifted its holdings in Western Digital by 124.2% in the 3rd quarter. Aigen Investment Management LP now owns 21,412 shares of the data storage provider’s stock worth $1,462,000 after purchasing an additional 11,860 shares in the last quarter. Ghisallo Capital Management LLC purchased a new position in Western Digital in the 2nd quarter worth approximately $13,260,000. State Board of Administration of Florida Retirement System lifted its holdings in Western Digital by 6.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 382,071 shares of the data storage provider’s stock worth $26,073,000 after purchasing an additional 23,781 shares in the last quarter. Finally, National Pension Service raised its holdings in shares of Western Digital by 70.8% during the 3rd quarter. National Pension Service now owns 854,801 shares of the data storage provider’s stock worth $58,374,000 after acquiring an additional 354,343 shares in the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital Stock Down 1.0 %

Shares of NASDAQ WDC traded down $0.67 during mid-day trading on Wednesday, reaching $63.29. 766,536 shares of the company were exchanged, compared to its average volume of 6,090,811. The company has a quick ratio of 0.91, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The stock has a market cap of $21.88 billion, a price-to-earnings ratio of 37.62 and a beta of 1.40. Western Digital Co. has a 1 year low of $45.23 and a 1 year high of $81.55. The firm has a 50-day moving average of $66.25 and a 200 day moving average of $69.46.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Thursday, October 24th. The data storage provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.23. Western Digital had a return on equity of 8.57% and a net margin of 4.81%. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same period last year, the business posted ($1.97) earnings per share. The firm’s revenue was up 48.9% compared to the same quarter last year. On average, research analysts expect that Western Digital Co. will post 6.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Evercore ISI reaffirmed an “outperform” rating and set a $85.00 price objective on shares of Western Digital in a report on Thursday, August 15th. Wedbush reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Western Digital in a report on Friday, October 25th. Barclays upped their price objective on Western Digital from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. TD Cowen cut their target price on Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Finally, Summit Insights downgraded Western Digital from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.71.

Insider Buying and Selling at Western Digital

In other news, EVP Robert Soderbery sold 30,767 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $68.01, for a total value of $2,092,463.67. Following the completion of the transaction, the executive vice president now directly owns 135,398 shares in the company, valued at $9,208,417.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO David Goeckeler sold 75,000 shares of Western Digital stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $72.58, for a total transaction of $5,443,500.00. Following the completion of the transaction, the chief executive officer now directly owns 821,630 shares in the company, valued at approximately $59,633,905.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert Soderbery sold 30,767 shares of Western Digital stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $68.01, for a total value of $2,092,463.67. Following the transaction, the executive vice president now owns 135,398 shares of the company’s stock, valued at approximately $9,208,417.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 188,561 shares of company stock worth $13,309,042. 0.30% of the stock is owned by insiders.

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.