Lbp Am Sa Acquires New Holdings in Western Digital Co. (NASDAQ:WDC)

Lbp Am Sa acquired a new stake in shares of Western Digital Co. (NASDAQ:WDC) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 17,483 shares of the data storage provider’s stock, valued at approximately $1,193,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Lindbrook Capital LLC grew its holdings in Western Digital by 37.3% during the first quarter. Lindbrook Capital LLC now owns 843 shares of the data storage provider’s stock worth $58,000 after acquiring an additional 229 shares during the period. Signaturefd LLC grew its holdings in Western Digital by 10.9% during the fourth quarter. Signaturefd LLC now owns 2,577 shares of the data storage provider’s stock worth $135,000 after acquiring an additional 254 shares during the period. Czech National Bank grew its holdings in Western Digital by 0.5% during the first quarter. Czech National Bank now owns 57,050 shares of the data storage provider’s stock worth $3,893,000 after acquiring an additional 261 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in Western Digital by 6.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,401 shares of the data storage provider’s stock worth $300,000 after purchasing an additional 280 shares in the last quarter. Finally, Corient Private Wealth LLC increased its stake in Western Digital by 1.1% in the 4th quarter. Corient Private Wealth LLC now owns 32,611 shares of the data storage provider’s stock worth $1,708,000 after purchasing an additional 343 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WDC. Barclays lifted their price target on Western Digital from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $115.00 price target on shares of Western Digital in a research note on Thursday. Susquehanna decreased their price objective on Western Digital from $88.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday. Mizuho raised their price objective on Western Digital from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, Benchmark raised their price objective on Western Digital from $85.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.70.

Western Digital Stock Performance

WDC traded down $3.72 on Friday, hitting $56.81. The company had a trading volume of 7,784,371 shares, compared to its average volume of 6,562,847. The company’s fifty day moving average price is $75.03 and its 200 day moving average price is $67.99. Western Digital Co. has a 1-year low of $35.62 and a 1-year high of $81.55. 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 cap of $18.55 billion, a price-to-earnings ratio of -12.18 and a beta of 1.37.

Insider Buying and Selling

In other Western Digital news, EVP Robert Soderbery sold 26,853 shares of Western Digital stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $73.48, for a total value of $1,973,158.44. Following the transaction, the executive vice president now directly owns 144,623 shares of the company’s stock, valued at approximately $10,626,898.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Western Digital news, EVP Robert Soderbery sold 26,853 shares of Western Digital stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $73.48, for a total value of $1,973,158.44. Following the transaction, the executive vice president now directly owns 144,623 shares of the company’s stock, valued at approximately $10,626,898.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Gene M. Zamiska sold 416 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $71.88, for a total value of $29,902.08. Following the sale, the senior vice president now owns 30,321 shares in the company, valued at $2,179,473.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,488 shares of company stock worth $2,020,143. 0.28% of the stock is currently 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.