Northern Trust Corp Sells 185,569 Shares of Western Digital Co. (NASDAQ:WDC)

Northern Trust Corp lessened its holdings in shares of Western Digital Co. (NASDAQ:WDCFree Report) by 5.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,083,195 shares of the data storage provider’s stock after selling 185,569 shares during the quarter. Northern Trust Corp owned about 0.96% of Western Digital worth $161,467,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Signaturefd LLC raised its stake in Western Digital by 10.9% in the fourth quarter. Signaturefd LLC now owns 2,577 shares of the data storage provider’s stock valued at $135,000 after purchasing an additional 254 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in Western Digital by 79.1% in the third quarter. Parkside Financial Bank & Trust now owns 747 shares of the data storage provider’s stock valued at $34,000 after purchasing an additional 330 shares in the last quarter. Lindbrook Capital LLC raised its stake in Western Digital by 121.7% in the fourth quarter. Lindbrook Capital LLC now owns 614 shares of the data storage provider’s stock valued at $32,000 after purchasing an additional 337 shares in the last quarter. Natixis Advisors L.P. raised its stake in Western Digital by 0.9% in the third quarter. Natixis Advisors L.P. now owns 37,156 shares of the data storage provider’s stock valued at $1,695,000 after purchasing an additional 338 shares in the last quarter. Finally, Wahed Invest LLC raised its stake in Western Digital by 7.3% in the third quarter. Wahed Invest LLC now owns 5,010 shares of the data storage provider’s stock valued at $229,000 after purchasing an additional 340 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Western Digital news, Director Kimberly Alexy sold 2,648 shares of the business’s stock in a transaction dated 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 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 other news, Director Kimberly Alexy sold 2,648 shares of the company’s 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 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 through the SEC website. Also, SVP Gene M. Zamiska sold 416 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $71.88, for a total transaction of $29,902.08. Following the sale, the senior vice president now directly owns 30,321 shares of the company’s stock, valued at approximately $2,179,473.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,360 shares of company stock valued at $2,221,513. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on WDC. Barclays lifted their price target on shares of Western Digital from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Raymond James downgraded shares of Western Digital from an “outperform” rating to a “market perform” rating in a research note on Monday, April 22nd. Loop Capital lifted their price target on shares of Western Digital from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Cantor Fitzgerald lifted their target price on shares of Western Digital from $70.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Finally, The Goldman Sachs Group lifted their price target on shares of Western Digital from $58.00 to $76.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Six investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.70.

Check Out Our Latest Analysis on WDC

Western Digital Trading Up 2.8 %

WDC opened at $77.10 on Tuesday. The stock has a 50-day moving average price of $72.30 and a 200-day moving average price of $61.35. The company has a quick ratio of 1.07, a current ratio of 1.86 and a debt-to-equity ratio of 0.72. Western Digital Co. has a 1 year low of $35.62 and a 1 year high of $77.66.

Western Digital (NASDAQ:WDCGet Free Report) last issued its earnings results on Thursday, April 25th. The data storage provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates 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 business 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 revenue was up 23.3% on a year-over-year basis. On average, equities research analysts anticipate that Western Digital Co. will post -1.68 EPS for the current fiscal year.

Western Digital 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.

Featured Articles

Want to see what other hedge funds are holding WDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Digital Co. (NASDAQ:WDCFree Report).

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

Receive News & Ratings for Western Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Digital and related companies with MarketBeat.com's FREE daily email newsletter.