Western Digital Co. (NASDAQ:WDC) Shares Sold by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lessened its stake in shares of Western Digital Co. (NASDAQ:WDC) by 12.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 33,245 shares of the data storage provider’s stock after selling 4,645 shares during the period. Tower Research Capital LLC TRC’s holdings in Western Digital were worth $1,982,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of WDC. Wilmington Savings Fund Society FSB purchased a new position in Western Digital in the third quarter worth approximately $183,000. Tidal Investments LLC grew its holdings in shares of Western Digital by 123.5% during the 3rd quarter. Tidal Investments LLC now owns 41,028 shares of the data storage provider’s stock worth $2,802,000 after purchasing an additional 22,670 shares during the period. Synovus Financial Corp increased its position in shares of Western Digital by 20.0% during the 3rd quarter. Synovus Financial Corp now owns 9,562 shares of the data storage provider’s stock worth $653,000 after purchasing an additional 1,591 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in Western Digital by 9.3% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 3,745 shares of the data storage provider’s stock valued at $252,000 after buying an additional 319 shares during the period. Finally, Versant Capital Management Inc lifted its position in Western Digital by 278.9% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock valued at $25,000 after buying an additional 304 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Gene M. Zamiska sold 1,659 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $41.36, for a total value of $68,616.24. Following the completion of the sale, the senior vice president now directly owns 43,776 shares of the company’s stock, valued at approximately $1,810,575.36. This represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on WDC shares. Cantor Fitzgerald reduced their price target on shares of Western Digital from $95.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Robert W. Baird cut their target price on Western Digital from $100.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Morgan Stanley began coverage on Western Digital in a research report on Wednesday, April 16th. They set an “overweight” rating and a $46.00 price target for the company. Susquehanna cut their price objective on Western Digital from $72.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, Barclays lowered their target price on Western Digital from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $73.68.

Western Digital Stock Up 2.0 %

Western Digital stock opened at $36.68 on Wednesday. The stock has a market cap of $12.76 billion, a PE ratio of 8.73 and a beta of 1.39. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26. The stock’s fifty day moving average is $44.17 and its two-hundred day moving average is $58.40. Western Digital Co. has a 1-year low of $28.83 and a 1-year high of $81.55.

Western Digital (NASDAQ:WDC) last posted its earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share 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%. On average, sell-side analysts expect that Western Digital Co. will post 4.89 EPS for the current fiscal 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.