Qsemble Capital Management LP Has $1.18 Million Stock Holdings in Western Digital Co. (NASDAQ:WDC)

Qsemble Capital Management LP reduced its holdings in Western Digital Co. (NASDAQ:WDC) by 70.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,303 shares of the data storage provider’s stock after selling 40,305 shares during the period. Qsemble Capital Management LP’s holdings in Western Digital were worth $1,182,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Truvestments Capital LLC acquired a new position in shares of Western Digital during the third quarter valued at about $152,000. Loomis Sayles & Co. L P bought a new position in Western Digital during the third quarter valued at about $11,952,000. Swedbank AB raised its holdings in Western Digital by 19.7% in the 3rd quarter. Swedbank AB now owns 291,777 shares of the data storage provider’s stock valued at $19,925,000 after acquiring an additional 47,965 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Western Digital by 111.6% in the 3rd quarter. Cerity Partners LLC now owns 151,561 shares of the data storage provider’s stock worth $10,350,000 after acquiring an additional 79,951 shares during the period. Finally, Highland Peak Capital LLC acquired a new stake in shares of Western Digital during the 3rd quarter worth approximately $6,505,000. 92.51% of the stock is owned by institutional investors.

Western Digital Stock Performance

Shares of Western Digital stock opened at $73.02 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.91. The firm has a 50 day simple moving average of $66.58 and a 200 day simple moving average of $69.06. Western Digital Co. has a fifty-two week low of $46.28 and a fifty-two week high of $81.55. The firm has a market cap of $25.24 billion, a P/E ratio of 42.95 and a beta of 1.40.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, October 24th. The data storage provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.23. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.12 billion. Western Digital had a return on equity of 8.57% and a net margin of 4.81%. The firm’s revenue for the quarter was up 48.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.97) earnings per share. Sell-side analysts predict that Western Digital Co. will post 6.56 earnings per share for the current fiscal year.

Insider Activity at Western Digital

In other Western Digital news, CEO David Goeckeler sold 75,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $70.32, for a total transaction of $5,274,000.00. Following the transaction, the chief executive officer now owns 896,630 shares in the company, valued at approximately $63,051,021.60. This trade represents a 7.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert Soderbery sold 30,767 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $68.01, for a total transaction of $2,092,463.67. Following the completion of the sale, the executive vice president now owns 135,398 shares in the company, valued at $9,208,417.98. This represents a 18.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 186,278 shares of company stock worth $13,173,985 over the last ninety days. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on WDC. Wedbush restated an “outperform” rating and issued a $95.00 target price on shares of Western Digital in a research note on Friday, October 25th. Morgan Stanley raised their price objective on shares of Western Digital from $94.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Susquehanna upped their target price on shares of Western Digital from $75.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. TD Cowen cut their price target on shares of Western Digital from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Finally, BNP Paribas decreased their price objective on Western Digital from $95.00 to $90.00 in a report on Thursday, October 24th. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $87.71.

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.