Raymond James Financial Services Advisors Inc. Cuts Position in Western Digital Co. (NASDAQ:WDC)

Raymond James Financial Services Advisors Inc. lessened its holdings in Western Digital Co. (NASDAQ:WDCGet Rating) by 20.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,177 shares of the data storage provider’s stock after selling 8,350 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Western Digital were worth $1,047,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of WDC. Xponance Inc. grew its holdings in shares of Western Digital by 22.5% during the third quarter. Xponance Inc. now owns 34,201 shares of the data storage provider’s stock valued at $1,113,000 after buying an additional 6,274 shares during the last quarter. Eqis Capital Management Inc. grew its holdings in shares of Western Digital by 3.6% during the third quarter. Eqis Capital Management Inc. now owns 14,100 shares of the data storage provider’s stock valued at $459,000 after buying an additional 495 shares during the last quarter. Ronald Blue Trust Inc. grew its holdings in shares of Western Digital by 299.4% during the third quarter. Ronald Blue Trust Inc. now owns 659 shares of the data storage provider’s stock valued at $30,000 after buying an additional 494 shares during the last quarter. NuWave Investment Management LLC purchased a new stake in shares of Western Digital during the third quarter valued at approximately $451,000. Finally, John G Ullman & Associates Inc. purchased a new stake in shares of Western Digital during the third quarter valued at approximately $1,774,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on WDC. Morgan Stanley cut their price target on shares of Western Digital from $65.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, October 25th. Credit Suisse Group lowered their price objective on shares of Western Digital to $42.00 in a research report on Thursday, October 27th. Craig Hallum lowered their price objective on shares of Western Digital from $85.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, October 4th. Wedbush lowered their price objective on shares of Western Digital from $70.00 to $60.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 25th. Finally, The Goldman Sachs Group downgraded shares of Western Digital from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $43.00 to $31.00 in a research report on Thursday, December 15th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $49.14.

Western Digital Stock Up 2.4 %

Shares of WDC stock opened at $38.46 on Friday. The company has a market capitalization of $12.22 billion, a price-to-earnings ratio of 13.26 and a beta of 1.57. Western Digital Co. has a one year low of $29.73 and a one year high of $63.26. The company’s fifty day moving average price is $35.12 and its 200-day moving average price is $39.04. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.83 and a quick ratio of 1.05.

Western Digital (NASDAQ:WDCGet Rating) last announced its quarterly earnings data on Thursday, October 27th. The data storage provider reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.10). The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.63 billion. Western Digital had a net margin of 5.25% and a return on equity of 12.93%. Sell-side analysts expect that Western Digital Co. will post -1.39 EPS for the current fiscal year.

About Western Digital

(Get Rating)

Western Digital Corp. engages in the development, manufacture, marketing, and sale of data storage devices and solutions. It operates through the Flash and Hard Disk Drive segments. The Flash segment represents flash-based data storage devices. The Hard Disk Drive segment provides hard disk storage solutions.

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Institutional Ownership by Quarter for Western Digital (NASDAQ:WDC)

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