2,222 Shares in Western Digital Co. (NASDAQ:WDC) Purchased by Truvestments Capital LLC

Truvestments Capital LLC purchased a new stake in shares of Western Digital Co. (NASDAQ:WDC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,222 shares of the data storage provider’s stock, valued at approximately $152,000.

A number of other large investors have also added to or reduced their stakes in WDC. First Horizon Advisors Inc. raised its position in shares of 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 buying an additional 149 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of 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 valued at $1,209,000 after purchasing an additional 203 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Western Digital by 15.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,527 shares of the data storage provider’s stock worth $116,000 after purchasing an additional 206 shares during the period. Mather Group LLC. boosted its holdings in shares of Western Digital by 10.7% in the 2nd quarter. Mather Group LLC. now owns 2,203 shares of the data storage provider’s stock worth $167,000 after purchasing an additional 213 shares during the period. Finally, Hanseatic Management Services Inc. raised its holdings 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 valued at $784,000 after buying an additional 236 shares during the period. Institutional investors own 92.51% of the company’s stock.

Insiders Place Their Bets

In other news, CEO David Goeckeler sold 75,000 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $72.58, for a total transaction of $5,443,500.00. Following the completion of the sale, the chief executive officer now owns 821,630 shares in the company, valued at approximately $59,633,905.40. This represents a 8.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Gene M. Zamiska sold 2,169 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $61.96, for a total value of $134,391.24. Following the transaction, the senior vice president now owns 32,601 shares in the company, valued at approximately $2,019,957.96. This trade represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,278 shares of company stock worth $13,173,985. 0.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on WDC shares. BNP Paribas dropped their price objective on shares of Western Digital from $95.00 to $90.00 in a research note on Thursday, October 24th. Barclays upped their price target on shares of Western Digital from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Benchmark reissued a “buy” rating and issued a $92.00 price objective on shares of Western Digital in a research report on Friday, October 25th. Summit Insights lowered Western Digital from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Citigroup decreased their price target on Western Digital from $95.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Western Digital has an average rating of “Moderate Buy” and a consensus target price of $87.71.

Western Digital Stock Performance

Shares of WDC stock opened at $73.02 on Wednesday. The firm has a market cap of $25.24 billion, a price-to-earnings ratio of 42.95 and a beta of 1.40. Western Digital Co. has a 52-week low of $46.28 and a 52-week high of $81.55. The company has a quick ratio of 0.91, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $66.58 and its 200 day moving average is $69.06.

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