UniSuper Management Pty Ltd Purchases 16,709 Shares of Western Digital Co. (NASDAQ:WDC)

UniSuper Management Pty Ltd grew its position in shares of Western Digital Co. (NASDAQ:WDC) by 42.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,297 shares of the data storage provider’s stock after purchasing an additional 16,709 shares during the period. UniSuper Management Pty Ltd’s holdings in Western Digital were worth $3,842,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Aequim Alternative Investments LP bought a new stake in Western Digital during the first quarter worth about $10,454,000. O Shaughnessy Asset Management LLC increased its holdings in shares of Western Digital by 13.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 18,141 shares of the data storage provider’s stock worth $1,238,000 after buying an additional 2,116 shares during the period. FIFTHDELTA Ltd purchased a new position in shares of Western Digital in the first quarter worth about $16,528,000. Edgestream Partners L.P. purchased a new position in shares of Western Digital in the first quarter worth about $1,648,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Western Digital in the first quarter worth about $228,000. Institutional investors own 92.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $115.00 price objective on shares of Western Digital in a report on Tuesday, June 11th. Loop Capital boosted their price target on Western Digital from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Morgan Stanley boosted their price target on Western Digital from $83.00 to $86.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Raymond James downgraded Western Digital from an “outperform” rating to a “market perform” rating in a report on Monday, April 22nd. Finally, Robert W. Baird boosted their price target on Western Digital from $65.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Six equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $82.96.

Western Digital Stock Down 0.1 %

Shares of WDC traded down $0.10 during mid-day trading on Tuesday, reaching $72.96. The company had a trading volume of 2,783,190 shares, compared to its average volume of 6,307,225. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.07 and a current ratio of 1.86. The firm has a 50-day moving average price of $76.09 and a 200 day moving average price of $67.45. Western Digital Co. has a 52 week low of $35.62 and a 52 week high of $81.55. The company has a market capitalization of $23.82 billion, a price-to-earnings ratio of -14.68 and a beta of 1.37.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, April 25th. The data storage provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.42. Western Digital had a negative return on equity of 13.75% and a negative net margin of 12.87%. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.37 billion. During the same period in the previous year, the firm posted ($1.57) EPS. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, sell-side analysts forecast that Western Digital Co. will post -1.45 EPS for the current year.

Insider Transactions at Western Digital

In related news, SVP Gene M. Zamiska sold 416 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $71.88, for a total value of $29,902.08. Following the transaction, the senior vice president now directly owns 30,321 shares of the company’s stock, valued at approximately $2,179,473.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Gene M. Zamiska sold 416 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $71.88, for a total value of $29,902.08. Following the transaction, the senior vice president now directly owns 30,321 shares of the company’s stock, valued at approximately $2,179,473.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Soderbery sold 26,853 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $73.48, for a total value of $1,973,158.44. Following the completion of the transaction, the executive vice president now directly owns 144,623 shares in the company, valued at $10,626,898.04. The disclosure for this sale can be found here. Insiders have sold a total of 27,488 shares of company stock valued at $2,020,143 in the last ninety days. 0.28% of the stock is currently owned by corporate insiders.

Western Digital 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.