Western Digital Co. (NASDAQ:WDC) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its stake in Western Digital Co. (NASDAQ:WDC – Get Rating) by 7.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,277 shares of the data storage provider’s stock after acquiring an additional 1,404 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Western Digital were worth $660,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in WDC. Wipfli Financial Advisors LLC acquired a new stake in Western Digital in the third quarter valued at $28,000. 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 purchasing an additional 527 shares during the last quarter. 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 purchasing an additional 534 shares during the last quarter. Ronald Blue Trust Inc. grew its position 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 worth $30,000 after acquiring an additional 494 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Western Digital during the second quarter worth about $34,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Western Digital Trading Up 2.4 %

NASDAQ WDC opened at $38.46 on Monday. The stock 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 52 week low of $29.73 and a 52 week high of $63.26. The stock’s 50 day moving average price is $35.12 and its two-hundred day moving average price is $38.97. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.05 and a current ratio of 1.83.

Western Digital (NASDAQ:WDC – Get Rating) last posted its quarterly earnings results on Thursday, October 27th. The data storage provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.10). The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.63 billion. Western Digital had a return on equity of 12.93% and a net margin of 5.25%. As a group, analysts anticipate that Western Digital Co. will post -1.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on WDC. Wedbush decreased their target price on shares of Western Digital from $70.00 to $60.00 and set an “outperform” rating for the company in a research report on Tuesday, October 25th. Credit Suisse Group decreased their target price on shares of Western Digital to $42.00 in a research report on Thursday, October 27th. Robert W. Baird decreased their target price on shares of Western Digital from $55.00 to $50.00 in a research report on Monday, October 31st. Citigroup cut their price target on shares of Western Digital from $60.00 to $45.00 in a report on Monday, October 31st. Finally, The Goldman Sachs Group lowered shares of Western Digital from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $43.00 to $31.00 in a research note on Thursday, December 15th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Western Digital currently has a consensus rating of “Hold” and an average price target of $49.14.

Western Digital Company 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.