Rothschild Investment LLC Makes New $38,000 Investment in Western Digital Co. (NASDAQ:WDC)

Rothschild Investment LLC acquired a new position in Western Digital Co. (NASDAQ:WDC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 502 shares of the data storage provider’s stock, valued at approximately $38,000.

Other institutional investors have also recently modified their holdings of the company. Rise Advisors LLC purchased a new position in shares of Western Digital in the first quarter worth about $25,000. Fidelis Capital Partners LLC purchased a new position in shares of Western Digital in the first quarter worth about $30,000. SOA Wealth Advisors LLC. purchased a new position in shares of Western Digital in the first quarter worth about $31,000. OFI Invest Asset Management purchased a new position in shares of Western Digital in the second quarter worth about $34,000. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Western Digital in the second quarter worth about $34,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Western Digital Stock Down 0.5 %

Shares of WDC opened at $62.61 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 1.32. Western Digital Co. has a one year low of $35.62 and a one year high of $81.55. The stock has a market capitalization of $20.44 billion, a price-to-earnings ratio of -12.60 and a beta of 1.39. The stock has a 50 day moving average price of $67.71 and a 200 day moving average price of $68.96.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.08 by $0.17. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.75%. The firm had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Equities research analysts forecast that Western Digital Co. will post 8.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WDC. Rosenblatt Securities restated a “buy” rating and issued a $115.00 price objective on shares of Western Digital in a research note on Thursday, August 1st. Benchmark raised their price objective on Western Digital from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Loop Capital lifted their price target on Western Digital from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 price target on shares of Western Digital in a research report on Thursday, August 1st. Finally, Wedbush lifted their price target on Western Digital from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Western Digital has a consensus rating of “Moderate Buy” and a consensus price target of $84.18.

Insider Buying and Selling

In related news, SVP Gene M. Zamiska sold 417 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total transaction of $27,059.13. Following the completion of the sale, the senior vice president now directly owns 28,870 shares in the company, valued at $1,873,374.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Western Digital news, SVP Gene M. Zamiska sold 417 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total value of $27,059.13. Following the completion of the sale, the senior vice president now directly owns 28,870 shares in the company, valued at approximately $1,873,374.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Robert Soderbery sold 12,154 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $57.09, for a total value of $693,871.86. Following the completion of the sale, the executive vice president now owns 128,413 shares of the company’s stock, valued at $7,331,098.17. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,174 shares of company stock worth $1,070,642. 0.28% of the stock is owned by corporate insiders.

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.