Quantbot Technologies LP Invests $4.03 Million in Western Digital Co. (NASDAQ:WDC)

Quantbot Technologies LP acquired a new position in Western Digital Co. (NASDAQ:WDC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 53,202 shares of the data storage provider’s stock, valued at approximately $4,031,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rise Advisors LLC acquired a new stake in Western Digital during the first quarter worth about $25,000. Fairfield Financial Advisors LTD acquired a new stake in Western Digital during the second quarter worth about $29,000. Fidelis Capital Partners LLC acquired a new stake in Western Digital during the first quarter worth about $30,000. 1620 Investment Advisors Inc. acquired a new stake in Western Digital in the second quarter valued at approximately $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Western Digital in the second quarter valued at approximately $34,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Western Digital Stock Performance

Shares of Western Digital stock opened at $64.09 on Tuesday. Western Digital Co. has a one year low of $35.62 and a one year high of $81.55. The company has a market cap of $20.93 billion, a price-to-earnings ratio of -12.90 and a beta of 1.39. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 1.32. The business’s 50 day moving average price is $65.72 and its 200 day moving average price is $69.48.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.17. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.75%. The firm had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.77 billion. On average, research analysts predict that Western Digital Co. will post 7.75 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on WDC shares. StockNews.com raised Western Digital from a “sell” rating to a “hold” rating in a report on Saturday, July 6th. Loop Capital raised their price objective on Western Digital from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Rosenblatt Securities reissued a “buy” rating and issued a $115.00 price objective on shares of Western Digital in a report on Thursday, August 1st. Summit Insights lowered Western Digital from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Benchmark raised their price objective on Western Digital from $85.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.05.

Insider Buying and Selling at Western Digital

In related news, SVP Gene M. Zamiska sold 2,169 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $61.96, for a total value of $134,391.24. Following the sale, the senior vice president now owns 32,601 shares in the company, valued at approximately $2,019,957.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Gene M. Zamiska sold 2,169 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $61.96, for a total value of $134,391.24. Following the sale, the senior vice president now owns 32,601 shares in the company, valued at approximately $2,019,957.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Gene M. Zamiska sold 417 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total value of $27,059.13. Following the completion of the sale, the senior vice president now owns 28,870 shares in the company, valued at approximately $1,873,374.30. The disclosure for this sale can be found here. Insiders have sold 17,955 shares of company stock worth $1,053,560 over the last quarter. 0.28% of the stock is currently owned by company insiders.

Western Digital 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.