Lmcg Investments LLC Has $879,000 Stock Position in Western Digital Co. (NASDAQ:WDC)

Lmcg Investments LLC lowered its stake in shares of Western Digital Co. (NASDAQ:WDC) by 28.7% during the second quarter, HoldingsChannel reports. The firm owned 11,596 shares of the data storage provider’s stock after selling 4,661 shares during the quarter. Lmcg Investments LLC’s holdings in Western Digital were worth $879,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its position in Western Digital by 1.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 15,962 shares of the data storage provider’s stock worth $1,209,000 after acquiring an additional 203 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Western Digital by 15.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,527 shares of the data storage provider’s stock valued at $116,000 after purchasing an additional 206 shares during the period. Mather Group LLC. lifted its stake in Western Digital by 10.7% in the 2nd quarter. Mather Group LLC. now owns 2,203 shares of the data storage provider’s stock valued at $167,000 after purchasing an additional 213 shares during the last quarter. Lindbrook Capital LLC grew its holdings in Western Digital by 37.3% during the first quarter. Lindbrook Capital LLC now owns 843 shares of the data storage provider’s stock worth $58,000 after purchasing an additional 229 shares during the period. Finally, Hanseatic Management Services Inc. grew its holdings in Western Digital by 2.3% during the second quarter. Hanseatic Management Services Inc. now owns 10,344 shares of the data storage provider’s stock worth $784,000 after purchasing an additional 236 shares during the period. Institutional investors and hedge funds own 92.51% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on WDC shares. Wedbush raised their price objective on Western Digital from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $80.00 price objective on shares of Western Digital in a research report on Tuesday, September 10th. Citigroup decreased their price objective on shares of Western Digital from $95.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Loop Capital raised their target price on shares of Western Digital from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $85.00 target price on shares of Western Digital in a report on Thursday, August 15th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.05.

Western Digital Price Performance

WDC stock opened at $65.89 on Wednesday. The company’s 50-day moving average price is $65.72 and its two-hundred day moving average price is $69.48. Western Digital Co. has a 12 month low of $35.62 and a 12 month high of $81.55. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.53. The firm has a market cap of $21.51 billion, a P/E ratio of -13.26 and a beta of 1.39.

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, beating the consensus estimate of $1.08 by $0.17. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.77 billion. On average, analysts anticipate that Western Digital Co. will post 7.75 earnings per share for the current fiscal year.

Insider Transactions at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 2,169 shares of Western Digital stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $61.96, for a total value of $134,391.24. Following the transaction, the senior vice president now owns 32,601 shares in the company, valued at $2,019,957.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Gene M. Zamiska sold 2,169 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $61.96, for a total value of $134,391.24. Following the completion of the transaction, the senior vice president now owns 32,601 shares of the company’s stock, valued at approximately $2,019,957.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Gene M. Zamiska sold 2,900 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $61.48, for a total transaction of $178,292.00. Following the sale, the senior vice president now directly owns 37,448 shares in the company, valued at approximately $2,302,303.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,955 shares of company stock valued at $1,053,560. Corporate insiders own 0.28% of the company’s stock.

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.