Western Digital Co. (NASDAQ:WDC) Shares Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd increased its stake in shares of Western Digital Co. (NASDAQ:WDC) by 123.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,983 shares of the data storage provider’s stock after acquiring an additional 1,095 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Western Digital were worth $104,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Signaturefd LLC raised its holdings in Western Digital by 10.9% during the fourth quarter. Signaturefd LLC now owns 2,577 shares of the data storage provider’s stock worth $135,000 after purchasing an additional 254 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Western Digital by 79.1% in the 3rd quarter. Parkside Financial Bank & Trust now owns 747 shares of the data storage provider’s stock valued at $34,000 after buying an additional 330 shares during the period. Lindbrook Capital LLC grew its holdings in Western Digital by 121.7% during the fourth quarter. Lindbrook Capital LLC now owns 614 shares of the data storage provider’s stock worth $32,000 after acquiring an additional 337 shares during the period. Natixis Advisors L.P. lifted its holdings in Western Digital by 0.9% in the third quarter. Natixis Advisors L.P. now owns 37,156 shares of the data storage provider’s stock valued at $1,695,000 after acquiring an additional 338 shares during the period. Finally, Wahed Invest LLC lifted its holdings in Western Digital by 7.3% in the third quarter. Wahed Invest LLC now owns 5,010 shares of the data storage provider’s stock valued at $229,000 after acquiring an additional 340 shares during the period. 92.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Western Digital

In related news, SVP Gene M. Zamiska sold 443 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $75.00, for a total transaction of $33,225.00. Following the sale, the senior vice president now owns 30,958 shares of the company’s stock, valued at $2,321,850. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Kimberly Alexy sold 2,648 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $69.95, for a total transaction of $185,227.60. Following the completion of the sale, the director now directly owns 20,509 shares of the company’s stock, valued at $1,434,604.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Gene M. Zamiska sold 443 shares of Western Digital stock in a transaction on Monday, April 8th. The stock was sold at an average price of $75.00, for a total value of $33,225.00. Following the completion of the transaction, the senior vice president now owns 30,958 shares in the company, valued at $2,321,850. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on WDC shares. Deutsche Bank Aktiengesellschaft raised Western Digital from a “hold” rating to a “buy” rating and raised their price objective for the company from $45.00 to $65.00 in a research note on Tuesday, January 16th. TD Cowen raised their price target on Western Digital from $50.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Morgan Stanley boosted their price objective on shares of Western Digital from $83.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday. Robert W. Baird lifted their target price on shares of Western Digital from $65.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Bank of America increased their price target on shares of Western Digital from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $75.75.

Western Digital Price Performance

Shares of WDC opened at $69.44 on Friday. The company has a current ratio of 1.67, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73. The firm has a market cap of $22.63 billion, a price-to-earnings ratio of -9.74 and a beta of 1.57. Western Digital Co. has a 52 week low of $32.01 and a 52 week high of $76.92. The stock has a 50 day moving average of $64.73 and a 200-day moving average of $54.78.

Western Digital (NASDAQ:WDC) last issued its earnings results on Thursday, April 25th. The data storage provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.42. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.37 billion. Western Digital had a negative net margin of 19.90% and a negative return on equity of 19.45%. Western Digital’s revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the company posted ($1.57) earnings per share. As a group, analysts forecast that Western Digital Co. will post -2.21 EPS 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.