Comprehensive Financial Planning Inc. PA Buys Shares of 500 Western Digital Co. (NASDAQ:WDC)

Comprehensive Financial Planning Inc. PA purchased a new position in shares of Western Digital Co. (NASDAQ:WDC) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 500 shares of the data storage provider’s stock, valued at approximately $30,000.

A number of other institutional investors have also modified their holdings of the company. Seelaus Asset Management LLC acquired a new position in Western Digital during the fourth quarter valued at approximately $408,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Western Digital by 3.4% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 83,533 shares of the data storage provider’s stock valued at $4,981,000 after acquiring an additional 2,710 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Western Digital by 6.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 841,700 shares of the data storage provider’s stock valued at $50,191,000 after acquiring an additional 50,188 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in Western Digital in the 4th quarter valued at $732,000. Finally, Silver Oak Securities Incorporated purchased a new position in Western Digital in the fourth quarter valued at about $217,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Western Digital Stock Up 7.1 %

Shares of NASDAQ WDC opened at $69.04 on Tuesday. Western Digital Co. has a 1 year low of $52.77 and a 1 year high of $81.55. The firm’s 50-day moving average is $64.85 and its 200-day moving average is $65.16. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $24.01 billion, a PE ratio of 16.44 and a beta of 1.44.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on WDC shares. Susquehanna cut their price objective on shares of Western Digital from $83.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Morgan Stanley decreased their price target on shares of Western Digital from $100.00 to $93.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Bank of America cut their price target on shares of Western Digital from $89.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. The Goldman Sachs Group raised their price objective on shares of Western Digital from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Benchmark lowered shares of Western Digital from a “buy” rating to a “hold” rating and set a $70.00 target price on the stock. in a research note on Thursday, December 19th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $84.21.

Insider Activity at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 658 shares of Western Digital stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total value of $46,053.42. Following the sale, the senior vice president now directly owns 28,863 shares in the company, valued at approximately $2,020,121.37. The trade was a 2.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 1,347 shares of company stock worth $93,027. 0.30% of the stock is owned by company 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.