Kestra Advisory Services LLC Lowers Holdings in Western Digital Co. (NASDAQ:WDC)

Kestra Advisory Services LLC cut its holdings in Western Digital Co. (NASDAQ:WDCGet Rating) by 5.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,579 shares of the data storage provider’s stock after selling 1,952 shares during the period. Kestra Advisory Services LLC’s holdings in Western Digital were worth $1,060,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Wipfli Financial Advisors LLC purchased a new position in Western Digital in the 3rd quarter worth approximately $28,000. Clear Street Markets LLC raised its holdings in shares of Western Digital by 411.7% during the 2nd quarter. Clear Street Markets LLC now owns 655 shares of the data storage provider’s stock worth $29,000 after acquiring an additional 527 shares in the last quarter. TCI Wealth Advisors Inc. raised its holdings in shares of Western Digital by 368.3% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 679 shares of the data storage provider’s stock worth $30,000 after acquiring an additional 534 shares in the last quarter. Ronald Blue Trust Inc. raised its holdings in shares of Western Digital by 299.4% during the 3rd 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 in the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of Western Digital by 107.3% during the 2nd quarter. Quadrant Capital Group LLC now owns 883 shares of the data storage provider’s stock worth $40,000 after acquiring an additional 457 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Western Digital Price Performance

Shares of WDC stock opened at $41.10 on Wednesday. Western Digital Co. has a twelve month low of $29.73 and a twelve month high of $63.26. The stock has a market capitalization of $13.06 billion, a price-to-earnings ratio of 14.17 and a beta of 1.57. The stock has a fifty day simple moving average of $35.20 and a two-hundred day simple moving average of $38.92. The company has a current ratio of 1.83, a quick ratio of 1.05 and a debt-to-equity ratio of 0.58.

Western Digital (NASDAQ:WDCGet Rating) last issued its 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). Western Digital had a return on equity of 12.93% and a net margin of 5.25%. The firm had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.63 billion. On average, analysts predict that Western Digital Co. will post -1.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on WDC shares. StockNews.com cut Western Digital from a “hold” rating to a “sell” rating in a report on Monday, October 31st. The Goldman Sachs Group cut Western Digital from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $43.00 to $31.00 in a report on Thursday, December 15th. Wedbush decreased their price objective on Western Digital from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Tuesday, October 25th. Mizuho decreased their price objective on Western Digital from $40.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday, November 29th. Finally, Craig Hallum cut their target price on Western Digital from $85.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, October 4th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Western Digital has an average rating of “Hold” and a consensus price target of $49.71.

About Western Digital

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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.

See Also

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

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