Zurcher Kantonalbank Zurich Cantonalbank Purchases 840 Shares of Western Digital Co. (NASDAQ:WDC)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Western Digital Co. (NASDAQ:WDC) by 0.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 95,385 shares of the data storage provider’s stock after acquiring an additional 840 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Western Digital were worth $6,514,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Eastern Bank bought a new stake in shares of Western Digital during the 3rd quarter valued at about $27,000. Fairfield Financial Advisors LTD purchased a new stake in Western Digital in the second quarter valued at approximately $29,000. OFI Invest Asset Management bought a new stake in Western Digital during the second quarter valued at approximately $34,000. 1620 Investment Advisors Inc. bought a new position in Western Digital in the second quarter valued at $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Western Digital during the 2nd quarter valued at about $34,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Western Digital news, EVP Robert Soderbery sold 30,767 shares of Western Digital stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $68.01, for a total value of $2,092,463.67. Following the completion of the sale, the executive vice president now owns 135,398 shares of the company’s stock, valued at approximately $9,208,417.98. This trade represents a 18.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Gene M. Zamiska sold 2,169 shares of the business’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 completion of the transaction, the senior vice president now owns 32,601 shares of the company’s stock, valued at $2,019,957.96. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 185,963 shares of company stock worth $13,154,039 over the last three months. 0.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Wedbush restated an “outperform” rating and issued a $95.00 target price on shares of Western Digital in a research report on Friday. BNP Paribas lowered their price objective on shares of Western Digital from $95.00 to $90.00 in a report on Thursday, October 24th. UBS Group reduced their target price on shares of Western Digital from $74.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $95.00 target price on shares of Western Digital in a research report on Tuesday, November 26th. Finally, Susquehanna upped their price target on shares of Western Digital from $75.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.71.

Western Digital Price Performance

Shares of WDC opened at $72.99 on Monday. Western Digital Co. has a fifty-two week low of $46.47 and a fifty-two week high of $81.55. The firm’s 50-day simple moving average is $67.10 and its two-hundred day simple moving average is $69.09. The stock has a market cap of $25.23 billion, a PE ratio of 42.94 and a beta of 1.40. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.47.

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

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.