Atria Wealth Solutions Inc. Boosts Stake in Western Digital Co. (NASDAQ:WDC)

Atria Wealth Solutions Inc. raised its holdings in Western Digital Co. (NASDAQ:WDC) by 2.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,113 shares of the data storage provider’s stock after acquiring an additional 404 shares during the period. Atria Wealth Solutions Inc.’s holdings in Western Digital were worth $739,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of WDC. Harvest Fund Management Co. Ltd lifted its stake in shares of Western Digital by 123.3% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,983 shares of the data storage provider’s stock valued at $104,000 after acquiring an additional 1,095 shares during the last quarter. GAMMA Investing LLC bought a new stake in Western Digital in the fourth quarter valued at approximately $85,000. Parkside Financial Bank & Trust boosted its stake in shares of Western Digital by 146.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,838 shares of the data storage provider’s stock valued at $96,000 after purchasing an additional 1,091 shares during the period. National Wealth Management Group LLC bought a new position in shares of Western Digital in the fourth quarter worth approximately $447,000. Finally, Handelsbanken Fonder AB increased its stake in shares of Western Digital by 23.1% in the fourth quarter. Handelsbanken Fonder AB now owns 81,346 shares of the data storage provider’s stock worth $4,260,000 after buying an additional 15,285 shares during the period. Institutional investors own 92.51% of the company’s stock.

Western Digital Stock Performance

Shares of NASDAQ:WDC opened at $70.95 on Friday. Western Digital Co. has a 12-month low of $32.01 and a 12-month high of $76.92. The stock has a fifty day simple moving average of $66.35 and a two-hundred day simple moving average of $55.64. The company has a current ratio of 1.86, a quick ratio of 1.07 and a debt-to-equity ratio of 0.72.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, April 25th. The data storage provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.42. Western Digital had a negative return on equity of 13.75% and a negative net margin of 12.87%. The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.37 billion. During the same quarter in the previous year, the firm earned ($1.57) EPS. Western Digital’s quarterly revenue was up 23.3% compared to the same quarter last year. As a group, equities research analysts expect that Western Digital Co. will post -1.68 EPS for the current fiscal year.

Insider Activity

In other 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 completion of the transaction, the director now owns 20,509 shares in the company, valued at $1,434,604.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Gene M. Zamiska sold 443 shares of the firm’s 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 sale, the senior vice president now owns 30,958 shares in the company, valued at $2,321,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimberly Alexy sold 2,648 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $69.95, for a total transaction of $185,227.60. Following the sale, the director now owns 20,509 shares of the company’s stock, valued at $1,434,604.55. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on WDC shares. Wedbush reissued an “outperform” rating and set a $85.00 price target on shares of Western Digital in a research report on Friday, April 26th. StockNews.com upgraded shares of Western Digital from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Deutsche Bank Aktiengesellschaft upgraded Western Digital from a “hold” rating to a “buy” rating and boosted their price target for the company from $45.00 to $65.00 in a report on Tuesday, January 16th. Susquehanna increased their price objective on Western Digital from $68.00 to $83.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Finally, Robert W. Baird boosted their target price on Western Digital from $65.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.76.

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.