Wipfli Financial Advisors LLC Invests $28,000 in Western Digital Co. (NASDAQ:WDC)

Wipfli Financial Advisors LLC acquired a new position in Western Digital Co. (NASDAQ:WDC – Get Rating) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 863 shares of the data storage provider’s stock, valued at approximately $28,000.

Other institutional investors have also made changes to their positions in the company. Financial Gravity Asset Management Inc. increased its stake in shares of Western Digital by 148.0% in the second quarter. Financial Gravity Asset Management Inc. now owns 496 shares of the data storage provider’s stock worth $334,000 after purchasing an additional 296 shares during the period. Clear Street Markets LLC increased its stake in Western Digital by 411.7% during the second quarter. Clear Street Markets LLC now owns 655 shares of the data storage provider’s stock valued at $29,000 after acquiring an additional 527 shares during the period. Ronald Blue Trust Inc. increased its stake in 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 acquiring an additional 494 shares during the period. TCI Wealth Advisors Inc. increased its stake in Western Digital by 368.3% during the second quarter. TCI Wealth Advisors Inc. now owns 679 shares of the data storage provider’s stock valued at $30,000 after acquiring an additional 534 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new position in Western Digital during the second quarter valued at about $34,000. 85.47% of the stock is currently owned by institutional investors.

Western Digital Stock Up 2.4 %

Shares of WDC opened at $38.46 on Friday. The company has a market capitalization of $12.22 billion, a P/E ratio of 13.26 and a beta of 1.57. 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 Co. has a one year low of $29.73 and a one year high of $63.26. The business’s 50 day simple moving average is $35.12 and its 200-day simple moving average is $39.04.

Western Digital (NASDAQ:WDC – Get Rating) last announced its earnings results 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). Western Digital had a return on equity of 12.93% and a net margin of 5.25%. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.63 billion. As a group, sell-side analysts predict that Western Digital Co. will post -1.39 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on WDC shares. Wedbush lowered their price target on Western Digital from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 25th. StockNews.com lowered Western Digital from a “hold” rating to a “sell” rating in a research note on Monday, October 31st. Craig Hallum lowered their price objective on Western Digital from $85.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, October 4th. The Goldman Sachs Group lowered 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 note on Thursday, December 15th. Finally, Benchmark upgraded Western Digital from a “sell” rating to a “hold” rating in a research note on Friday, January 6th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $49.14.

Western Digital Profile

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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.