Vinva Investment Management Ltd Invests $988,000 in Western Digital Co. (NASDAQ:WDC)

Vinva Investment Management Ltd purchased a new position in shares of Western Digital Co. (NASDAQ:WDC) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 14,237 shares of the data storage provider’s stock, valued at approximately $988,000.

A number of other hedge funds and other institutional investors have also modified their holdings of WDC. AGF Management Ltd. grew its holdings in shares of Western Digital by 28,925.8% during the second quarter. AGF Management Ltd. now owns 2,202,190 shares of the data storage provider’s stock worth $166,860,000 after buying an additional 2,194,603 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Western Digital by 247.0% during the second quarter. 1832 Asset Management L.P. now owns 1,446,509 shares of the data storage provider’s stock worth $109,602,000 after buying an additional 1,029,658 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Western Digital by 39.6% during the second quarter. Bank of New York Mellon Corp now owns 2,861,229 shares of the data storage provider’s stock worth $216,795,000 after buying an additional 810,977 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Western Digital by 24.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,711,428 shares of the data storage provider’s stock worth $253,453,000 after buying an additional 732,344 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Western Digital by 304.9% during the second quarter. Marshall Wace LLP now owns 709,386 shares of the data storage provider’s stock worth $53,750,000 after buying an additional 534,168 shares in the last quarter. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Western Digital Trading Up 2.1 %

WDC opened at $72.99 on Friday. The stock has a market capitalization of $25.23 billion, a PE ratio of 42.94 and a beta of 1.40. The firm’s fifty day moving average price is $66.98 and its 200 day moving average price is $69.11. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.91. Western Digital Co. has a 12-month low of $46.47 and a 12-month high of $81.55.

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

Insider Activity at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 2,169 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $61.96, for a total transaction of $134,391.24. Following the completion of the sale, the senior vice president now owns 32,601 shares in the company, valued at $2,019,957.96. The trade was a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Soderbery sold 30,767 shares of the business’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 sale, the executive vice president now owns 135,398 shares of the company’s stock, valued at approximately $9,208,417.98. The trade was a 18.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 185,963 shares of company stock valued at $13,154,039 over the last ninety days. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Rosenblatt Securities restated a “buy” rating and issued a $115.00 target price on shares of Western Digital in a report on Friday, October 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $95.00 target price on shares of Western Digital in a report on Tuesday. Morgan Stanley boosted their target price on shares of Western Digital from $94.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Evercore ISI restated an “outperform” rating and issued a $85.00 target price on shares of Western Digital in a report on Thursday, August 15th. Finally, TD Cowen decreased their price objective 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. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $87.71.

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.