Securian Asset Management Inc. Reduces Position in Western Digital Co. (NASDAQ:WDC)

Securian Asset Management Inc. lowered its stake in Western Digital Co. (NASDAQ:WDC) by 10.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,535 shares of the data storage provider’s stock after selling 2,420 shares during the period. Securian Asset Management Inc.’s holdings in Western Digital were worth $1,075,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Naples Money Management LLC purchased a new stake in Western Digital in the fourth quarter valued at $26,000. Lindbrook Capital LLC grew its holdings in Western Digital by 121.7% during the fourth quarter. Lindbrook Capital LLC now owns 614 shares of the data storage provider’s stock worth $32,000 after acquiring an additional 337 shares during the period. Parkside Financial Bank & Trust raised its position in Western Digital by 79.1% during the third quarter. Parkside Financial Bank & Trust now owns 747 shares of the data storage provider’s stock valued at $34,000 after acquiring an additional 330 shares in the last quarter. Northwest Financial Advisors acquired a new position in Western Digital in the fourth quarter valued at approximately $35,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Western Digital during the 3rd quarter worth approximately $41,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WDC has been the subject of several analyst reports. TD Cowen boosted their target price on shares of Western Digital from $50.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Morgan Stanley increased their target price on shares of Western Digital from $83.00 to $86.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Susquehanna upped their price target on Western Digital from $68.00 to $83.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. StockNews.com raised Western Digital from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Finally, Bank of America boosted their price objective on Western Digital from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $78.32.

Western Digital Trading Up 1.3 %

NASDAQ WDC opened at $74.01 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.86 and a quick ratio of 1.07. The stock has a market capitalization of $24.17 billion, a P/E ratio of -14.89 and a beta of 1.53. The firm’s 50-day moving average is $69.30 and its two-hundred day moving average is $58.61. Western Digital Co. has a 12 month low of $35.62 and a 12 month high of $76.92.

Western Digital (NASDAQ:WDC) last posted its 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. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.37 billion. Western Digital had a negative return on equity of 13.75% and a negative net margin of 12.87%. Western Digital’s revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.57) EPS. On average, sell-side analysts anticipate that Western Digital Co. will post -1.68 earnings per share for the current year.

Insider Buying and Selling

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 transaction of $185,227.60. Following the completion of the transaction, the director now directly owns 20,509 shares of the company’s stock, valued at approximately $1,434,604.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Kimberly Alexy sold 2,648 shares of Western Digital stock in a transaction that occurred on Monday, April 1st. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Gene M. Zamiska sold 443 shares of the business’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 transaction of $33,225.00. Following the transaction, the senior vice president now owns 30,958 shares of the company’s stock, valued at approximately $2,321,850. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

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.