Western Digital Co. (NASDAQ:WDC) Shares Acquired by Aigen Investment Management LP

Aigen Investment Management LP increased its stake in shares of Western Digital Co. (NASDAQ:WDC) by 124.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,412 shares of the data storage provider’s stock after purchasing an additional 11,860 shares during the period. Aigen Investment Management LP’s holdings in Western Digital were worth $1,462,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Oppenheimer & Co. Inc. purchased a new stake in shares of Western Digital during the first quarter worth $1,242,000. Bessemer Group Inc. raised its stake in shares of Western Digital by 28.6% in the 1st quarter. Bessemer Group Inc. now owns 2,619 shares of the data storage provider’s stock valued at $179,000 after acquiring an additional 583 shares during the period. Ghisallo Capital Management LLC acquired a new position in Western Digital during the 2nd quarter worth about $13,260,000. State Board of Administration of Florida Retirement System boosted its holdings in Western Digital by 6.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 382,071 shares of the data storage provider’s stock valued at $26,073,000 after acquiring an additional 23,781 shares during the period. Finally, National Pension Service grew its position in Western Digital by 70.8% in the 3rd quarter. National Pension Service now owns 854,801 shares of the data storage provider’s stock valued at $58,374,000 after acquiring an additional 354,343 shares in the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital Price Performance

Shares of WDC traded down $1.77 during mid-day trading on Tuesday, hitting $65.61. The company’s stock had a trading volume of 764,312 shares, compared to its average volume of 6,079,904. The firm has a 50-day simple moving average of $66.23 and a 200 day simple moving average of $69.51. Western Digital Co. has a 1-year low of $44.13 and a 1-year high of $81.55. The firm has a market capitalization of $22.68 billion, a P/E ratio of 39.64 and a beta of 1.40. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49.

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

Insiders Place Their Bets

In related news, SVP Gene M. Zamiska sold 2,900 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $61.48, for a total value of $178,292.00. Following the completion of the transaction, the senior vice president now directly owns 37,448 shares of the company’s stock, valued at $2,302,303.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Western Digital news, SVP Gene M. Zamiska sold 2,900 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $61.48, for a total value of $178,292.00. Following the sale, the senior vice president now owns 37,448 shares of the company’s stock, valued at $2,302,303.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Goeckeler sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $70.32, for a total value of $5,274,000.00. Following the completion of the sale, the chief executive officer now directly owns 896,630 shares in the company, valued at approximately $63,051,021.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 188,561 shares of company stock worth $13,309,042. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WDC. Benchmark reissued a “buy” rating and set a $92.00 price target on shares of Western Digital in a research report on Friday, October 25th. Barclays boosted their price target on shares of Western Digital from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Susquehanna raised their price target on Western Digital from $75.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. TD Cowen cut their price objective 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. Finally, Evercore ISI reiterated an “outperform” rating and set a $85.00 price target on shares of Western Digital in a research note on Thursday, August 15th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.71.

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.