RNC Capital Management LLC Has $398,000 Stock Position in Western Digital Co. (NASDAQ:WDC)

RNC Capital Management LLC lowered its holdings in shares of Western Digital Co. (NASDAQ:WDC) by 91.3% in the 4th quarter, HoldingsChannel reports. The firm owned 6,672 shares of the data storage provider’s stock after selling 69,726 shares during the period. RNC Capital Management LLC’s holdings in Western Digital were worth $398,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in WDC. Northwestern Mutual Wealth Management Co. grew its stake in Western Digital by 10.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,265 shares of the data storage provider’s stock valued at $247,000 after acquiring an additional 310 shares during the period. Sanctuary Advisors LLC acquired a new stake in Western Digital in the second quarter valued at approximately $1,278,000. Czech National Bank grew its stake in Western Digital by 6.9% in the third quarter. Czech National Bank now owns 66,516 shares of the data storage provider’s stock valued at $4,542,000 after acquiring an additional 4,294 shares during the period. GAMMA Investing LLC grew its stake in Western Digital by 23.5% in the third quarter. GAMMA Investing LLC now owns 6,586 shares of the data storage provider’s stock valued at $450,000 after acquiring an additional 1,252 shares during the period. Finally, CWM LLC grew its stake in Western Digital by 63.0% in the third quarter. CWM LLC now owns 15,464 shares of the data storage provider’s stock valued at $1,056,000 after acquiring an additional 5,974 shares during the period. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insider Activity at Western Digital

In related news, SVP Gene M. Zamiska sold 658 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total transaction of $46,053.42. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 1,347 shares of company stock worth $93,027. 0.30% of the stock is owned by company insiders.

Western Digital Stock Performance

NASDAQ:WDC opened at $64.48 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99. Western Digital Co. has a 52-week low of $52.77 and a 52-week high of $81.55. The firm has a market cap of $22.29 billion, a price-to-earnings ratio of 15.35 and a beta of 1.44. The business’s fifty day moving average is $65.11 and its 200 day moving average is $65.30.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.36). Western Digital had a net margin of 9.95% and a return on equity of 15.68%. Research analysts predict that Western Digital Co. will post 5.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on WDC shares. Mizuho cut their target price on Western Digital from $90.00 to $82.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Citigroup cut their target price on Western Digital from $82.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Barclays cut their target price on Western Digital from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Benchmark cut Western Digital from a “buy” rating to a “hold” rating and set a $70.00 target price on the stock. in a research report on Thursday, December 19th. Finally, Wedbush reaffirmed an “outperform” rating and set a $95.00 target price on shares of Western Digital in a research report on Thursday, January 30th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.21.

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.