Proficio Capital Partners LLC Buys Shares of 59,391 Western Digital Co. (NASDAQ:WDC)

Proficio Capital Partners LLC bought a new stake in Western Digital Co. (NASDAQ:WDC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 59,391 shares of the data storage provider’s stock, valued at approximately $3,541,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Oppenheimer & Co. Inc. boosted its holdings in Western Digital by 38.0% in the 4th quarter. Oppenheimer & Co. Inc. now owns 9,325 shares of the data storage provider’s stock valued at $556,000 after purchasing an additional 2,567 shares during the last quarter. Kovack Advisors Inc. boosted its holdings in Western Digital by 5.2% in the 4th quarter. Kovack Advisors Inc. now owns 4,038 shares of the data storage provider’s stock valued at $241,000 after purchasing an additional 200 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its holdings in Western Digital by 1.7% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 126,500 shares of the data storage provider’s stock valued at $7,543,000 after purchasing an additional 2,100 shares during the last quarter. Central Asset Investments & Management Holdings HK Ltd acquired a new position in Western Digital in the 4th quarter valued at about $298,000. Finally, New York Life Investment Management LLC boosted its holdings in Western Digital by 6.3% in the 4th quarter. New York Life Investment Management LLC now owns 51,854 shares of the data storage provider’s stock valued at $3,092,000 after purchasing an additional 3,088 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Trading Down 5.1 %

NASDAQ WDC opened at $44.63 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. Western Digital Co. has a 52 week low of $39.58 and a 52 week high of $61.16. The stock has a market capitalization of $15.52 billion, a PE ratio of 10.63 and a beta of 1.44. The firm has a 50 day moving average of $62.79 and a two-hundred day moving average of $65.01.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. As a group, research analysts expect that Western Digital Co. will post 4.89 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WDC shares. Barclays reduced their price target on shares of Western Digital from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Robert W. Baird reduced their price target on shares of Western Digital from $100.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $95.00 price target on shares of Western Digital in a research note on Tuesday, February 18th. Benchmark downgraded shares of Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price target on the stock. in a research note on Thursday, December 19th. Finally, Susquehanna reduced their price target on shares of Western Digital from $83.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Western Digital presently has a consensus rating of “Moderate Buy” and an average target price of $83.05.

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.