Western Digital Co. (NASDAQ:WDC) Shares Acquired by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. increased its position in shares of Western Digital Co. (NASDAQ:WDC) by 0.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 238,429 shares of the data storage provider’s stock after acquiring an additional 1,757 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Western Digital were worth $14,218,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Versant Capital Management Inc grew its holdings in shares of Western Digital by 278.9% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock worth $25,000 after acquiring an additional 304 shares during the last quarter. Eastern Bank acquired a new stake in shares of Western Digital in the third quarter worth $27,000. True Wealth Design LLC grew 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 in the last quarter. Capital Performance Advisors LLP acquired a new position in Western Digital during the third quarter valued at $41,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in Western Digital in the 3rd quarter worth about $42,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WDC has been the topic of a number of research reports. Susquehanna upped their target price on Western Digital from $75.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Rosenblatt Securities reiterated a “buy” rating and issued a $115.00 target price on shares of Western Digital in a research report on Friday, October 25th. Cantor Fitzgerald reissued an “overweight” rating and set a $95.00 price objective on shares of Western Digital in a research report on Friday. Barclays reduced their price target on Western Digital from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Friday. Finally, Bank of America reduced their target price on shares of Western Digital from $89.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.65.

Western Digital Trading Up 1.2 %

NASDAQ WDC opened at $65.04 on Tuesday. Western Digital Co. has a one year low of $52.76 and a one year high of $81.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.91. The firm has a market cap of $22.48 billion, a P/E ratio of 38.26 and a beta of 1.43. The stock’s 50-day moving average is $65.38 and its 200-day moving average is $66.14.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, October 24th. The data storage provider reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.23. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the previous year, the firm posted ($1.97) earnings per share. The business’s revenue was up 48.9% on a year-over-year basis. Sell-side analysts anticipate that Western Digital Co. will post 6.26 earnings per share for the current fiscal year.

Insider Activity

In related 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 approximately $2,020,121.37. The trade was a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Goeckeler sold 75,000 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $72.58, for a total transaction of $5,443,500.00. Following the completion of the sale, the chief executive officer now owns 821,630 shares of the company’s stock, valued at approximately $59,633,905.40. This represents a 8.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,107 shares of company stock worth $7,768,381 over the last three months. Corporate insiders own 0.30% of the company’s stock.

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.