Fairfield Financial Advisors LTD Makes New $29,000 Investment in Western Digital Co. (NASDAQ:WDC)

Fairfield Financial Advisors LTD bought a new position in Western Digital Co. (NASDAQ:WDC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 388 shares of the data storage provider’s stock, valued at approximately $29,000.

A number of other institutional investors have also added to or reduced their stakes in WDC. Vanguard Personalized Indexing Management LLC increased its stake in Western Digital by 12.5% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 15,810 shares of the data storage provider’s stock worth $828,000 after acquiring an additional 1,757 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Western Digital by 27.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,867 shares of the data storage provider’s stock worth $150,000 after purchasing an additional 619 shares in the last quarter. ING Groep NV boosted its holdings in shares of Western Digital by 59.4% in the 4th quarter. ING Groep NV now owns 124,690 shares of the data storage provider’s stock worth $6,530,000 after purchasing an additional 46,486 shares in the last quarter. Norges Bank purchased a new stake in Western Digital during the 4th quarter valued at about $150,958,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Western Digital by 14.9% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,250 shares of the data storage provider’s stock valued at $746,000 after acquiring an additional 1,848 shares during the period. 92.51% of the stock is currently owned by institutional investors.

Western Digital Stock Up 2.8 %

Western Digital stock opened at $65.02 on Monday. The firm has a market cap of $21.23 billion, a price-to-earnings ratio of -13.08 and a beta of 1.39. Western Digital Co. has a 12 month low of $35.62 and a 12 month high of $81.55. The company has a current ratio of 1.32, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $66.01 and a two-hundred day simple moving average of $69.45.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Wednesday, July 31st. The data storage provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.17. The firm had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.77 billion. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.75%. Equities analysts predict that Western Digital Co. will post 7.75 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $80.00 target price on shares of Western Digital in a report on Tuesday, September 10th. Citigroup dropped their price objective on Western Digital from $95.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. StockNews.com upgraded Western Digital from a “sell” rating to a “hold” rating in a report on Saturday, July 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $115.00 price objective on shares of Western Digital in a report on Thursday, August 1st. Finally, Loop Capital increased their price objective on Western Digital from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.05.

Insider Transactions at Western Digital

In other news, SVP Gene M. Zamiska sold 2,169 shares of the firm’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 directly owns 32,601 shares in the company, valued at approximately $2,019,957.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Robert Soderbery sold 12,154 shares of Western Digital stock in a transaction on Monday, August 5th. The stock was sold at an average price of $57.09, for a total transaction of $693,871.86. Following the transaction, the executive vice president now directly owns 128,413 shares in the company, valued at $7,331,098.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Gene M. Zamiska sold 2,169 shares of Western Digital stock in a transaction on Wednesday, September 4th. The shares were 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 $2,019,957.96. The disclosure for this sale can be found here. Insiders have sold a total of 17,955 shares of company stock worth $1,053,560 in the last ninety days. Insiders own 0.28% of the company’s stock.

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.