Western Digital Co. (NASDAQ:WDC) Shares Acquired by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. increased its stake in shares of Western Digital Co. (NASDAQ:WDC) by 9.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,745 shares of the data storage provider’s stock after buying an additional 319 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Western Digital were worth $252,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. First Horizon Advisors Inc. grew its stake in Western Digital by 5.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 2,929 shares of the data storage provider’s stock valued at $200,000 after purchasing an additional 149 shares during the last quarter. Quarry LP boosted its position in Western Digital by 22.6% in the third quarter. Quarry LP now owns 932 shares of the data storage provider’s stock valued at $64,000 after buying an additional 172 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Western Digital by 1.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 15,962 shares of the data storage provider’s stock worth $1,209,000 after buying an additional 203 shares during the period. Hanseatic Management Services Inc. raised its position in Western Digital by 2.3% during the 2nd quarter. Hanseatic Management Services Inc. now owns 10,344 shares of the data storage provider’s stock worth $784,000 after buying an additional 236 shares during the last quarter. Finally, Empirical Finance LLC raised its position in Western Digital by 2.4% during the 3rd quarter. Empirical Finance LLC now owns 10,891 shares of the data storage provider’s stock worth $744,000 after buying an additional 256 shares during the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Western Digital news, SVP Gene M. Zamiska sold 658 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total transaction of $46,053.42. Following the transaction, the senior vice president now owns 28,863 shares of the company’s stock, valued at approximately $2,020,121.37. The trade was a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Robert Soderbery sold 30,767 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $68.01, for a total value of $2,092,463.67. Following the completion of the sale, the executive vice president now directly owns 135,398 shares of the company’s stock, valued at $9,208,417.98. This trade represents a 18.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 184,107 shares of company stock worth $13,042,381. 0.30% of the stock is owned by insiders.

Western Digital Stock Performance

NASDAQ WDC opened at $60.24 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.91. The stock’s 50 day simple moving average is $67.41 and its 200-day simple moving average is $68.39. The company has a market cap of $20.83 billion, a PE ratio of 35.44 and a beta of 1.42. Western Digital Co. has a 1-year low of $48.96 and a 1-year high of $81.55.

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

Wall Street Analysts Forecast Growth

WDC has been the topic of several recent research reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Western Digital in a report on Friday, October 25th. Wedbush reaffirmed an “outperform” rating and set a $95.00 price target on shares of Western Digital in a research report on Friday, November 29th. Barclays boosted their price objective on Western Digital from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, October 25th. TD Cowen lowered their target price on Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $95.00 price target on shares of Western Digital in a research report on Tuesday, November 26th. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $86.33.

About Western Digital

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.