Prime Capital Investment Advisors LLC Acquires Shares of 3,951 Western Digital Co. (NASDAQ:WDC)

Prime Capital Investment Advisors LLC bought a new position in shares of Western Digital Co. (NASDAQ:WDC) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,951 shares of the data storage provider’s stock, valued at approximately $207,000.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Western Digital by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,028,114 shares of the data storage provider’s stock worth $138,173,000 after purchasing an additional 66,680 shares in the last quarter. Numerai GP LLC acquired a new stake in Western Digital in the third quarter valued at about $884,000. CoreCap Advisors LLC acquired a new stake in Western Digital in the fourth quarter valued at about $1,415,000. Sora Investors LLC boosted its stake in Western Digital by 441.7% in the third quarter. Sora Investors LLC now owns 325,000 shares of the data storage provider’s stock valued at $14,830,000 after buying an additional 265,000 shares in the last quarter. Finally, United Services Automobile Association acquired a new stake in Western Digital in the third quarter valued at about $463,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WDC. Wells Fargo & Company raised their price objective on Western Digital from $72.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. UBS Group raised their price objective on Western Digital from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. The Goldman Sachs Group increased their target price on Western Digital from $58.00 to $76.00 and gave the company a “neutral” rating in a research report on Friday. Susquehanna increased their target price on Western Digital from $68.00 to $83.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Finally, Mizuho increased their target price on Western Digital from $66.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $69.78.

Western Digital Trading Down 2.5 %

Shares of WDC stock opened at $72.06 on Monday. The company has a market cap of $23.48 billion, a P/E ratio of -10.11 and a beta of 1.57. The stock has a 50 day simple moving average of $62.56 and a two-hundred day simple moving average of $53.42. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.67. Western Digital Co. has a fifty-two week low of $31.97 and a fifty-two week high of $76.92.

Western Digital (NASDAQ:WDC) last issued its earnings results on Monday, January 29th. The data storage provider reported ($0.69) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.30) by $0.61. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3 billion. Western Digital had a negative return on equity of 19.45% and a negative net margin of 19.90%. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.69) earnings per share. Research analysts forecast that Western Digital Co. will post -2.31 earnings per share for the current year.

Insider Buying and Selling at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 443 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $75.00, for a total value of $33,225.00. Following the completion of the sale, the senior vice president now owns 30,958 shares of the company’s stock, valued at $2,321,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Western Digital news, Director Kimberly Alexy sold 2,648 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.95, for a total value of $185,227.60. Following the completion of the sale, the director now owns 20,509 shares of the company’s stock, valued at $1,434,604.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Gene M. Zamiska sold 443 shares of Western Digital stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $75.00, for a total value of $33,225.00. Following the transaction, the senior vice president now directly owns 30,958 shares in the company, valued at approximately $2,321,850. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.

About Western Digital

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.