PFG Investments LLC Takes $431,000 Position in Western Digital Co. (NASDAQ:WDC)

PFG Investments LLC acquired a new position in shares of Western Digital Co. (NASDAQ:WDC) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,314 shares of the data storage provider’s stock, valued at approximately $431,000.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in Western Digital by 1.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 15,962 shares of the data storage provider’s stock valued at $1,209,000 after buying an additional 203 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Western Digital by 15.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,527 shares of the data storage provider’s stock worth $116,000 after buying an additional 206 shares in the last quarter. Mather Group LLC. increased its position in Western Digital by 10.7% in the 2nd quarter. Mather Group LLC. now owns 2,203 shares of the data storage provider’s stock valued at $167,000 after acquiring an additional 213 shares during the period. Hanseatic Management Services Inc. raised its stake in Western Digital by 2.3% during the 2nd quarter. Hanseatic Management Services Inc. now owns 10,344 shares of the data storage provider’s stock valued at $784,000 after acquiring an additional 236 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in Western Digital by 51.2% during the 3rd quarter. Blue Trust Inc. now owns 818 shares of the data storage provider’s stock worth $62,000 after acquiring an additional 277 shares during the period. Institutional investors own 92.51% of the company’s stock.

Analyst Upgrades and Downgrades

WDC has been the topic of a number of research analyst reports. Benchmark reissued a “buy” rating and set a $92.00 price target on shares of Western Digital in a report on Friday, October 25th. Wedbush restated an “outperform” rating and set a $95.00 price target on shares of Western Digital in a research report on Friday, October 25th. UBS Group decreased their price objective on shares of Western Digital from $74.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Citigroup decreased their price target on Western Digital from $95.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Finally, StockNews.com raised Western Digital from a “sell” rating to a “hold” rating in a research note on Saturday, July 6th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Western Digital currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.09.

Western Digital Price Performance

NASDAQ WDC opened at $68.30 on Wednesday. The company has a 50 day simple moving average of $65.59 and a 200-day simple moving average of $69.61. Western Digital Co. has a 52-week low of $38.43 and a 52-week high of $81.55. The firm has a market capitalization of $23.61 billion, a price-to-earnings ratio of 40.18 and a beta of 1.39. 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 (NASDAQ:WDC) last issued its earnings results on Thursday, October 24th. The data storage provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.23. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The company had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter last year, the business posted ($1.97) EPS. The company’s revenue for the quarter was up 48.9% on a year-over-year basis. Equities research analysts predict that Western Digital Co. will post 7.16 earnings per share for the current fiscal year.

Insider Activity at Western Digital

In other Western Digital news, CEO David Goeckeler sold 75,000 shares of Western Digital stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $70.32, for a total value of $5,274,000.00. Following the completion of the sale, the chief executive officer now directly owns 896,630 shares in the company, valued at $63,051,021.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Western Digital news, CEO David Goeckeler sold 75,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $70.32, for a total transaction of $5,274,000.00. Following the transaction, the chief executive officer now directly owns 896,630 shares in the company, valued at $63,051,021.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Soderbery sold 12,154 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was 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 directly owns 128,413 shares of the company’s stock, valued at $7,331,098.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 169,948 shares of company stock valued at $11,910,450. 0.30% 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.