J.P. Morgan Private Wealth Advisors LLC Acquires Shares of 97,269 Western Digital Co. (NASDAQ:WDC)

J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Western Digital Co. (NASDAQ:WDCFree Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 97,269 shares of the data storage provider’s stock, valued at approximately $4,438,000.

A number of other hedge funds also recently made changes to their positions in the stock. ST Germain D J Co. Inc. purchased a new stake in Western Digital during the 2nd quarter valued at $26,000. Janiczek Wealth Management LLC purchased a new stake in Western Digital during the 3rd quarter valued at $28,000. Massmutual Trust Co. FSB ADV grew its position in Western Digital by 38.4% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 915 shares of the data storage provider’s stock valued at $35,000 after acquiring an additional 254 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in Western Digital in the 3rd quarter valued at $41,000. Finally, Childress Capital Advisors LLC bought a new position in Western Digital in the 2nd quarter valued at $45,000. 83.38% of the stock is currently owned by institutional investors.

Western Digital Price Performance

NASDAQ:WDC opened at $57.94 on Thursday. Western Digital Co. has a 52 week low of $31.97 and a 52 week high of $60.55. The company has a quick ratio of 0.98, a current ratio of 1.67 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $18.65 billion, a P/E ratio of -8.13 and a beta of 1.57. The stock’s fifty day moving average is $52.54 and its two-hundred day moving average is $46.70.

Western Digital (NASDAQ:WDCGet Free Report) last posted its earnings results on Monday, January 29th. The data storage provider reported ($0.69) EPS for the quarter, beating analysts’ consensus estimates of ($1.30) by $0.61. Western Digital had a negative return on equity of 19.49% and a negative net margin of 19.90%. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3 billion. During the same quarter in the previous year, the business earned ($0.69) earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities analysts expect that Western Digital Co. will post -2.81 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Susquehanna upped their price objective on Western Digital from $38.00 to $46.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. Wells Fargo & Company increased their price target on Western Digital from $62.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Barclays raised their price objective on Western Digital from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Rosenblatt Securities raised their price objective on Western Digital from $38.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. Finally, Raymond James raised their price objective on Western Digital from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Western Digital has an average rating of “Moderate Buy” and an average price target of $59.29.

View Our Latest Report on Western Digital

Western Digital Company Profile

(Free Report)

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.

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

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