Western Digital Co. (NASDAQ:WDC) Shares Purchased by Aigen Investment Management LP

Aigen Investment Management LP grew its holdings in shares of Western Digital Co. (NASDAQ:WDC) by 124.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,412 shares of the data storage provider’s stock after acquiring an additional 11,860 shares during the period. Aigen Investment Management LP’s holdings in Western Digital were worth $1,462,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Crossmark Global Holdings Inc. grew its position in shares of Western Digital by 6.5% during the third quarter. Crossmark Global Holdings Inc. now owns 236,672 shares of the data storage provider’s stock worth $16,162,000 after buying an additional 14,379 shares in the last quarter. Assetmark Inc. grew its holdings in Western Digital by 101,086.4% during the 3rd quarter. Assetmark Inc. now owns 66,783 shares of the data storage provider’s stock worth $4,561,000 after acquiring an additional 66,717 shares in the last quarter. Beta Wealth Group Inc. increased its position in shares of Western Digital by 6.6% in the 3rd quarter. Beta Wealth Group Inc. now owns 8,100 shares of the data storage provider’s stock worth $553,000 after purchasing an additional 500 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Western Digital in the 3rd quarter valued at about $41,000. Finally, M&G PLC lifted its position in shares of Western Digital by 9.2% during the third quarter. M&G PLC now owns 182,067 shares of the data storage provider’s stock worth $12,381,000 after purchasing an additional 15,299 shares during the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Robert Soderbery sold 30,767 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $68.01, for a total transaction of $2,092,463.67. Following the completion of the sale, the executive vice president now directly owns 135,398 shares in the company, valued at approximately $9,208,417.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Robert Soderbery sold 30,767 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $68.01, for a total transaction of $2,092,463.67. Following the transaction, the executive vice president now owns 135,398 shares in the company, valued at approximately $9,208,417.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Gene M. Zamiska sold 417 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total value of $27,059.13. Following the completion of the sale, the senior vice president now directly owns 28,870 shares of the company’s stock, valued at $1,873,374.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 188,561 shares of company stock worth $13,309,042 in the last ninety days. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on WDC shares. Morgan Stanley boosted their price objective on Western Digital from $94.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Benchmark reiterated a “buy” rating and issued a $92.00 price target on shares of Western Digital in a report on Friday, October 25th. Summit Insights downgraded shares of Western Digital from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. TD Cowen lowered their target price on shares of Western Digital from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Finally, UBS Group decreased their price target on shares of Western Digital from $74.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued 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 $87.71.

Western Digital Stock Down 2.6 %

Shares of Western Digital stock traded down $1.77 during midday trading on Tuesday, hitting $65.61. The company’s stock had a trading volume of 764,312 shares, compared to its average volume of 6,079,904. Western Digital Co. has a 1-year low of $44.13 and a 1-year high of $81.55. The company has a quick ratio of 0.91, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $22.68 billion, a P/E ratio of 39.64 and a beta of 1.40. The stock has a 50-day simple moving average of $66.23 and a 200-day simple moving average of $69.51.

Western Digital (NASDAQ:WDC) last issued its earnings results on Thursday, October 24th. The data storage provider reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.23. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.12 billion. Western Digital had a return on equity of 8.57% and a net margin of 4.81%. The firm’s quarterly revenue was up 48.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.97) EPS. As a group, sell-side analysts expect that Western Digital Co. will post 6.56 earnings per share for the current year.

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.