Western Digital Co. (NASDAQ:WDC) Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC boosted its stake in Western Digital Co. (NASDAQ:WDC) by 0.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 88,252 shares of the data storage provider’s stock after buying an additional 285 shares during the period. Nisa Investment Advisors LLC’s holdings in Western Digital were worth $5,262,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of WDC. AE Wealth Management LLC increased its stake in shares of Western Digital by 8.6% during the second quarter. AE Wealth Management LLC now owns 4,349 shares of the data storage provider’s stock valued at $330,000 after acquiring an additional 345 shares during the period. Public Sector Pension Investment Board raised its stake in shares of Western Digital by 76.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 12,610 shares of the data storage provider’s stock worth $955,000 after buying an additional 5,445 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Western Digital by 61.4% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 62,464 shares of the data storage provider’s stock valued at $4,733,000 after buying an additional 23,752 shares during the period. Toronto Dominion Bank boosted its stake in Western Digital by 55.4% during the second quarter. Toronto Dominion Bank now owns 174,505 shares of the data storage provider’s stock valued at $13,222,000 after buying an additional 62,211 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in Western Digital by 276.2% during the second quarter. AQR Capital Management LLC now owns 83,255 shares of the data storage provider’s stock worth $6,308,000 after acquiring an additional 61,127 shares during the period. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Robert Soderbery sold 30,767 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 135,398 shares in the company, valued at approximately $9,208,417.98. The trade was a 18.52 % decrease in their position. 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 658 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total value of $46,053.42. Following the transaction, the senior vice president now owns 28,863 shares in the company, valued at approximately $2,020,121.37. This trade represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,107 shares of company stock valued at $2,324,881 over the last ninety days. Corporate insiders own 0.30% of the company’s stock.

Western Digital Stock Performance

Shares of NASDAQ WDC opened at $67.41 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.91. Western Digital Co. has a one year low of $52.77 and a one year high of $81.55. The business’s 50-day moving average price is $65.77 and its two-hundred day moving average price is $66.03. The company has a market capitalization of $23.30 billion, a P/E ratio of 39.65 and a beta of 1.43.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, October 24th. The data storage provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.55 by $0.23. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Western Digital had a return on equity of 8.57% and a net margin of 4.81%. The firm’s quarterly revenue was up 48.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.97) EPS. Analysts anticipate that Western Digital Co. will post 5.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WDC. Cantor Fitzgerald restated an “overweight” rating and set a $95.00 price objective on shares of Western Digital in a research report on Friday, January 17th. The Goldman Sachs Group decreased their price target on shares of Western Digital from $81.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Rosenblatt Securities reiterated a “buy” rating and set a $115.00 price objective on shares of Western Digital in a research report on Friday, October 25th. Morgan Stanley decreased their target price on Western Digital from $100.00 to $93.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Barclays reduced their target price on Western Digital from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Western Digital presently has an average rating of “Moderate Buy” and an average target price of $85.65.

About Western Digital

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.