Valliance Asset Management Ltd Buys Shares of 6,110 Western Digital Co. (NASDAQ:WDC)

Valliance Asset Management Ltd bought a new stake in Western Digital Co. (NASDAQ:WDC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,110 shares of the data storage provider’s stock, valued at approximately $364,000. Western Digital accounts for about 0.7% of Valliance Asset Management Ltd’s portfolio, making the stock its 15th largest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc raised its holdings in shares of Western Digital by 278.9% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock valued at $25,000 after buying an additional 304 shares during the last quarter. Eastern Bank bought a new stake in shares of Western Digital during the third quarter valued at approximately $27,000. Sierra Ocean LLC bought a new stake in shares of Western Digital during the fourth quarter valued at approximately $29,000. True Wealth Design LLC raised its holdings in shares of Western Digital by 2,184.2% during the third quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock valued at $30,000 after buying an additional 415 shares during the last quarter. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of Western Digital during the fourth quarter valued at approximately $30,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Trading Down 3.6 %

NASDAQ WDC opened at $68.71 on Friday. Western Digital Co. has a twelve month low of $52.77 and a twelve month high of $81.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99. The stock has a market cap of $23.90 billion, a price-to-earnings ratio of 16.36 and a beta of 1.44. The firm’s 50 day moving average price is $64.78 and its two-hundred day moving average price is $65.59.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. Equities analysts anticipate that Western Digital Co. will post 4.89 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Gene M. Zamiska sold 658 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total transaction of $46,053.42. Following the transaction, the senior vice president now directly owns 28,863 shares in the company, valued at $2,020,121.37. The trade was a 2.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $95.00 price target on shares of Western Digital in a report on Tuesday, February 18th. StockNews.com initiated coverage on Western Digital in a report on Tuesday, February 18th. They set a “hold” rating on the stock. Citigroup dropped their target price on Western Digital from $82.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Susquehanna dropped their target price on Western Digital from $83.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Finally, UBS Group boosted their target price on Western Digital from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.42.

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.