Western Digital Co. (NASDAQ:WDC) Position Increased by Sanctuary Advisors LLC

Sanctuary Advisors LLC lifted its position in Western Digital Co. (NASDAQ:WDC) by 13.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,285 shares of the data storage provider’s stock after acquiring an additional 2,371 shares during the period. Sanctuary Advisors LLC’s holdings in Western Digital were worth $1,348,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Eastern Bank acquired a new position in Western Digital during the third quarter valued at $27,000. Fairfield Financial Advisors LTD purchased a new stake in shares of Western Digital in the second quarter worth approximately $29,000. True Wealth Design LLC boosted its holdings in shares of Western Digital by 2,184.2% during the third quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock worth $30,000 after purchasing an additional 415 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Western Digital during the second quarter worth approximately $34,000. Finally, Rothschild Investment LLC purchased a new position in Western Digital during the second quarter valued at approximately $38,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on WDC. Wedbush reissued an “outperform” rating and set a $95.00 target price on shares of Western Digital in a research note on Friday, November 29th. Citigroup reduced their price objective on Western Digital from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, December 3rd. Susquehanna upped their target price on Western Digital from $75.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. BNP Paribas reduced their price target on Western Digital from $95.00 to $90.00 in a report on Thursday, October 24th. Finally, The Goldman Sachs Group dropped their price objective on Western Digital from $79.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.33.

Western Digital Trading Up 1.0 %

Shares of Western Digital stock opened at $60.24 on Friday. Western Digital Co. has a 52-week low of $48.96 and a 52-week high of $81.55. The firm has a market capitalization of $20.83 billion, a PE ratio of 35.44 and a beta of 1.42. 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 company’s fifty day moving average price is $67.50 and its two-hundred day moving average price is $68.50.

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

Insider Buying and Selling

In other Western Digital news, CEO David Goeckeler sold 75,000 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $72.58, for a total transaction of $5,443,500.00. Following the sale, the chief executive officer now directly owns 821,630 shares of the company’s stock, valued at approximately $59,633,905.40. This represents a 8.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Gene M. Zamiska sold 1,993 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $69.94, for a total value of $139,390.42. Following the sale, the senior vice president now owns 30,608 shares in the company, valued at approximately $2,140,723.52. This trade represents a 6.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 184,107 shares of company stock worth $13,042,381 in the last 90 days. 0.30% of the stock is owned by company 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.