Unigestion Holding SA lowered its stake in shares of Western Digital Corp (NASDAQ:WDC) by 26.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,449 shares of the data storage provider’s stock after selling 79,934 shares during the quarter. Unigestion Holding SA owned about 0.07% of Western Digital worth $12,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Private Ocean LLC bought a new stake in Western Digital during the second quarter valued at about $25,000. Huntington National Bank raised its stake in Western Digital by 9,483.3% in the second quarter. Huntington National Bank now owns 575 shares of the data storage provider’s stock valued at $27,000 after buying an additional 569 shares during the last quarter. Quest Capital Management Inc. ADV purchased a new stake in Western Digital in the third quarter valued at about $27,000. TCI Wealth Advisors Inc. raised its stake in Western Digital by 62.1% in the third quarter. TCI Wealth Advisors Inc. now owns 488 shares of the data storage provider’s stock valued at $29,000 after buying an additional 187 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in Western Digital in the second quarter valued at about $34,000. 84.60% of the stock is currently owned by institutional investors.
Shares of NASDAQ:WDC traded down $1.22 during trading on Friday, hitting $52.02. The stock had a trading volume of 5,762,022 shares, compared to its average volume of 6,024,923. Western Digital Corp has a 12-month low of $33.83 and a 12-month high of $65.31. The stock has a market capitalization of $16.03 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 16.92 and a beta of 1.82. The company has a quick ratio of 1.22, a current ratio of 1.98 and a debt-to-equity ratio of 1.04. The stock has a 50-day simple moving average of $58.60 and a two-hundred day simple moving average of $52.09.
Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Wednesday, October 30th. The data storage provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.41. Western Digital had a positive return on equity of 3.28% and a negative net margin of 9.89%. The firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period last year, the business posted $3.04 earnings per share. The company’s revenue for the quarter was down 19.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Western Digital Corp will post 1.6 earnings per share for the current year.
WDC has been the subject of a number of research analyst reports. Cowen reiterated a “market perform” rating and issued a $45.00 price target (up from $40.00) on shares of Western Digital in a research note on Thursday, August 1st. Royal Bank of Canada decreased their price target on Western Digital to $64.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Barclays initiated coverage on Western Digital in a research note on Wednesday, August 7th. They issued an “equal weight” rating and a $53.00 price target for the company. Mizuho increased their price target on Western Digital from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, ValuEngine cut Western Digital from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company’s stock. Western Digital has a consensus rating of “Hold” and a consensus target price of $61.66.
In related news, EVP Lori S. Sundberg sold 3,442 shares of Western Digital stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $56.82, for a total transaction of $195,574.44. Following the completion of the transaction, the executive vice president now directly owns 29,312 shares in the company, valued at $1,665,507.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Michael D. Cordano sold 4,640 shares of Western Digital stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $55.35, for a total value of $256,824.00. Following the transaction, the chief operating officer now owns 281,344 shares of the company’s stock, valued at $15,572,390.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,760 shares of company stock valued at $5,981,528. 0.44% of the stock is owned by company insiders.
About Western Digital
Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.
Recommended Story: Net Margin
Receive News & Ratings for Western Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Digital and related companies with MarketBeat.com's FREE daily email newsletter.