10,542 Shares in Western Digital Co. (NASDAQ:WDC) Bought by Neo Ivy Capital Management

Neo Ivy Capital Management acquired a new stake in shares of Western Digital Co. (NASDAQ:WDC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,542 shares of the data storage provider’s stock, valued at approximately $720,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. AGF Management Ltd. lifted its position in shares of Western Digital by 28,925.8% during the second quarter. AGF Management Ltd. now owns 2,202,190 shares of the data storage provider’s stock worth $166,860,000 after purchasing an additional 2,194,603 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Western Digital by 247.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,446,509 shares of the data storage provider’s stock valued at $109,602,000 after acquiring an additional 1,029,658 shares during the last quarter. Sachem Head Capital Management LP raised its position in shares of Western Digital by 75.2% during the 3rd quarter. Sachem Head Capital Management LP now owns 2,030,000 shares of the data storage provider’s stock valued at $138,629,000 after acquiring an additional 871,500 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Western Digital by 39.6% during the second quarter. Bank of New York Mellon Corp now owns 2,861,229 shares of the data storage provider’s stock worth $216,795,000 after purchasing an additional 810,977 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Western Digital by 24.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,711,428 shares of the data storage provider’s stock worth $253,453,000 after purchasing an additional 732,344 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Western Digital news, CEO David Goeckeler sold 75,000 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $72.58, for a total value of $5,443,500.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Gene M. Zamiska sold 1,993 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $69.94, for a total transaction of $139,390.42. Following the completion of the sale, the senior vice president now owns 30,608 shares of the company’s stock, valued at approximately $2,140,723.52. The trade was a 6.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 184,107 shares of company stock valued at $13,042,381. Company insiders own 0.30% of the company’s stock.

Western Digital Trading Up 1.6 %

Shares of NASDAQ:WDC opened at $69.90 on Thursday. The stock has a market capitalization of $24.17 billion, a price-to-earnings ratio of 41.12 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. The company has a 50 day moving average price of $67.70 and a 200 day moving average price of $68.94. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.47.

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

Analysts Set New Price Targets

WDC has been the topic of a number of research reports. TD Cowen dropped their target price on shares of Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Morgan Stanley raised their target price on shares of Western Digital from $94.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $95.00 target price on shares of Western Digital in a report on Tuesday, November 26th. Benchmark reissued a “buy” rating and issued a $92.00 price target on shares of Western Digital in a report on Friday, October 25th. Finally, Wedbush restated an “outperform” rating and set a $95.00 price objective on shares of Western Digital in a research note on Friday, November 29th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $87.71.

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.