Yousif Capital Management LLC Has $2.64 Million Position in Western Digital Co. (NASDAQ:WDC)

Yousif Capital Management LLC lessened its stake in Western Digital Co. (NASDAQ:WDC) by 11.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 50,443 shares of the data storage provider’s stock after selling 6,367 shares during the quarter. Yousif Capital Management LLC’s holdings in Western Digital were worth $2,642,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC acquired a new position in Western Digital in the 4th quarter worth about $85,000. Parkside Financial Bank & Trust increased its holdings in Western Digital by 146.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,838 shares of the data storage provider’s stock worth $96,000 after buying an additional 1,091 shares during the last quarter. National Wealth Management Group LLC bought a new position in Western Digital during the fourth quarter valued at approximately $447,000. Handelsbanken Fonder AB lifted its stake in Western Digital by 23.1% in the fourth quarter. Handelsbanken Fonder AB now owns 81,346 shares of the data storage provider’s stock valued at $4,260,000 after acquiring an additional 15,285 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Western Digital by 5.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 57,364 shares of the data storage provider’s stock worth $3,004,000 after acquiring an additional 2,723 shares in the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insider Buying and Selling at Western Digital

In related news, Director Kimberly Alexy sold 2,648 shares of the business’s stock in a transaction 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 sale, the director now owns 20,509 shares of the company’s stock, valued at approximately $1,434,604.55. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Kimberly Alexy sold 2,648 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.95, for a total transaction of $185,227.60. Following the completion of the sale, the director now owns 20,509 shares in the company, valued at approximately $1,434,604.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Gene M. Zamiska sold 443 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $75.00, for a total transaction of $33,225.00. Following the completion of the transaction, the senior vice president now owns 30,958 shares in the company, valued at $2,321,850. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

WDC has been the subject of several analyst reports. Robert W. Baird lifted their price objective on shares of Western Digital from $65.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday. Cantor Fitzgerald upped their price target on Western Digital from $70.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Argus increased their price objective on Western Digital from $68.00 to $88.00 and gave the company a “buy” rating in a report on Monday. TD Cowen boosted their target price on Western Digital from $50.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Finally, Rosenblatt Securities upgraded Western Digital from a “neutral” rating to a “buy” rating in a report on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Western Digital presently has an average rating of “Moderate Buy” and a consensus target price of $77.76.

Western Digital Stock Down 2.1 %

Shares of WDC stock opened at $69.86 on Tuesday. Western Digital Co. has a one year low of $32.01 and a one year high of $76.92. The company has a quick ratio of 1.07, a current ratio of 1.86 and a debt-to-equity ratio of 0.72. The stock has a fifty day moving average price of $65.39 and a 200 day moving average price of $55.26.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, April 25th. The data storage provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.42. The company had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.37 billion. Western Digital had a negative net margin of 12.87% and a negative return on equity of 13.75%. The firm’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period last year, the firm earned ($1.57) EPS. Research analysts anticipate that Western Digital Co. will post -2.21 EPS for the current fiscal year.

Western Digital Company Profile

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.