FNY Investment Advisers LLC Raises Stock Holdings in Western Digital Co. (NASDAQ:WDC)

FNY Investment Advisers LLC lifted its stake in shares of Western Digital Co. (NASDAQ:WDC) by 52.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 5,394 shares of the data storage provider’s stock after buying an additional 1,847 shares during the quarter. FNY Investment Advisers LLC’s holdings in Western Digital were worth $321,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in WDC. Versant Capital Management Inc boosted its holdings in shares of Western Digital by 278.9% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock valued at $25,000 after acquiring an additional 304 shares during the period. Eastern Bank acquired a new stake in Western Digital during the third quarter valued at approximately $27,000. Fairfield Financial Advisors LTD purchased a new position in Western Digital in the 2nd quarter worth about $29,000. True Wealth Design LLC raised its position in Western Digital by 2,184.2% during the third quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock valued at $30,000 after buying an additional 415 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Western Digital during the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insider Transactions 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 legal filing with the SEC, which is accessible through this link. Also, EVP Robert Soderbery sold 30,767 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $68.01, for a total value of $2,092,463.67. Following the transaction, the executive vice president now owns 135,398 shares of the company’s stock, valued at $9,208,417.98. This represents a 18.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,107 shares of company stock valued at $7,768,381 over the last three months. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

WDC has been the topic of a number of research analyst reports. The Goldman Sachs Group lowered their target price on shares of Western Digital from $81.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday. Barclays boosted their price target on shares of Western Digital from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Citigroup cut their price target on Western Digital from $87.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Rosenblatt Securities reissued a “buy” rating and issued a $115.00 target price on shares of Western Digital in a research note on Friday, October 25th. Finally, BNP Paribas reduced their price objective on shares of Western Digital from $95.00 to $90.00 in a research note on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Western Digital presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.86.

Western Digital Stock Down 1.3 %

Shares of Western Digital stock opened at $62.02 on Tuesday. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49. Western Digital Co. has a 12-month low of $50.88 and a 12-month high of $81.55. The company’s fifty day simple moving average is $65.83 and its two-hundred day simple moving average is $66.59. The company has a market cap of $21.44 billion, a P/E ratio of 36.48 and a beta of 1.43.

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

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.