Western Digital Co. (NASDAQ:WDC) stock position was raised by Blue Trust Inc.

VaselineAugust 26, 2024

0 4 minutes read

Blue Trust Inc. raised its position in Western Digital Co. (NASDAQ:WDC – Free Report) by 121.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 541 shares of the data storage provider’s stock after purchasing an additional 297 shares during the quarter. Holdings of Blue Trust Inc. in Western Digital were worth $41,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in WDC. Pure Financial Advisors LLC purchased a new position in Western Digital in the second quarter valued at $215,000. Swedbank AB boosted its holdings in shares of Western Digital by 95.9% during the 2nd quarter. Swedbank AB now owns 243,812 shares of the data storage provider’s stock worth $18,474,000 after acquiring an additional 119,372 shares. in the last quarter. SteelPeak Wealth LLC bought a new stake in shares of Western Digital in the second quarter valued at approximately $238,000. ORG Partners LLC raised its holdings in shares of Western Digital by 225.5% in the 2nd quarter. ORG Partners LLC now owns 1,569 shares of the data storage provider’s stock valued at $120,000 after acquiring an additional 1,087 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Western Digital by 21.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,896 shares of the data storage provider’s stock valued at $598,000 after purchasing an additional 1,374 shares in the last quarter. Institutional investors and hedge funds own 92.51% of the company’s shares.

Analyst upgrades and downgrades

A number of equities research analysts have issued reports on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $115.00 target price on shares of Western Digital in a research report on Thursday, August 1st. Evercore ISI reiterated an “outperform” rating and issued a $85.00 target price on shares of Western Digital in a research note on Thursday, August 15th. Citigroup raised their target price on shares of Western Digital from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Robert W. Baird boosted their price target on shares of Western Digital from $65.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Loop Capital raised their price objective on Western Digital from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The stock presently has an average rating of “Moderate Buy” and an average price target of $84.18, according to MarketBeat.

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Western Digital trading up 0.5%

Shares of WDC stock opened at $64.35 on Friday. The firm has a fifty day moving average of $70.51 and a 200 day moving average of $68.49. The stock has a market cap of $21.01 billion, a price-to-earnings ratio of -12.89 and a beta of 1.37. Western Digital Co. it has a 52-week low of $35.62 and a 52-week high of $81.55. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.83, and a current ratio of 1.41.

Western Digital (NASDAQ:WDC – Get Free Report ) last posted its quarterly earnings results on Wednesday, July 31st. The data storage provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.17. The firm had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.77 billion. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.61%. On average, equities research analysts forecast that Western Digital Co. will post 8.73 earnings per share for the current fiscal year.

Indoor activity

In other news, EVP Robert Soderbery sold 26,853 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $73.48, for a total transaction of $1,973,158.44. Following the transaction, the executive vice president now directly owns 144,623 shares in the company, valued at $10,626,898.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In related news, 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 transaction, the senior vice president now owns 28,870 shares in the company, valued at $1,873,374.30. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink. Also, EVP Robert Soderbery sold 26,853 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $73.48, for a total value of $1,973,158.44. Following the sale, the executive vice president now directly owns 144,623 shares of the company’s stock, valued at $10,626,898.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,643 shares of company stock worth $2,711,171. Insiders own 0.28% of the company’s shares.

About Western Digital

(Free report)

Western Digital Corporation develops, manufactures and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, the rest of Asia and internationally. Provides client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and personal notebook computers (PCs), game consoles and set-top boxes; and flash-based embedded storage products for mobile phones, tablets, notebooks and other handheld and portable devices, as well as automotive, Internet of Things, industrial and connected home applications.