Western Digital Co. (NASDAQ:WDC) Holdings Raised by Rhumbline Advisers

Rhumbline Advisers increased its stake in Western Digital Co. (NASDAQ:WDC) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 628,672 shares of the data storage provider’s stock after purchasing an additional 8,029 shares during the period. Rhumbline Advisers owned 0.18% of Western Digital worth $37,488,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of WDC. Versant Capital Management Inc grew its position in Western Digital by 278.9% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock valued at $25,000 after buying an additional 304 shares in the last quarter. Eastern Bank bought a new stake in Western Digital during the third quarter worth approximately $27,000. True Wealth Design LLC boosted its stake in Western Digital by 2,184.2% during the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock valued at $30,000 after purchasing an additional 415 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Western Digital during the 4th quarter valued at $30,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Western Digital in the 3rd quarter worth $41,000. Institutional investors own 92.51% of the company’s stock.

Western Digital Stock Performance

WDC stock opened at $72.03 on Wednesday. The firm has a 50 day simple moving average of $64.57 and a 200 day simple moving average of $65.37. Western Digital Co. has a 52 week low of $52.77 and a 52 week high of $81.55. The stock has a market cap of $25.05 billion, a P/E ratio of 17.15 and a beta of 1.44. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a net margin of 9.95% and a return on equity of 15.68%. Research analysts anticipate that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

WDC has been the subject of several research reports. Wedbush reaffirmed an “outperform” rating and set a $95.00 target price on shares of Western Digital in a research note on Monday, February 10th. Morgan Stanley lowered their price objective on shares of Western Digital from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Susquehanna cut their target price on shares of Western Digital from $83.00 to $72.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Citigroup decreased their price target on shares of Western Digital from $82.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Finally, Rosenblatt Securities cut their price objective on Western Digital from $115.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $84.42.

Insiders Place Their Bets

In other news, SVP Gene M. Zamiska sold 658 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total transaction of $46,053.42. Following the transaction, the senior vice president now owns 28,863 shares of the company’s stock, valued at approximately $2,020,121.37. This represents a 2.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 1,347 shares of company stock valued at $93,027 in the last three months. Insiders own 0.30% of the company’s stock.

Western Digital 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.