BLB&B Advisors LLC Has $821,000 Stake in Western Digital Co. (NASDAQ:WDC)

BLB&B Advisors LLC lowered its position in shares of Western Digital Co. (NASDAQ:WDC) by 2.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,025 shares of the data storage provider’s stock after selling 300 shares during the quarter. BLB&B Advisors LLC’s holdings in Western Digital were worth $821,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in WDC. Eastern Bank bought a new stake in shares of Western Digital during the third quarter valued at approximately $27,000. Fairfield Financial Advisors LTD acquired a new stake in shares of Western Digital in the 2nd quarter valued at $29,000. Fidelis Capital Partners LLC bought a new stake in shares of Western Digital during the first quarter worth $30,000. OFI Invest Asset Management acquired a new position in shares of Western Digital during the second quarter valued at $34,000. Finally, 1620 Investment Advisors Inc. bought a new position in Western Digital in the second quarter valued at about $34,000. 92.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WDC. Citigroup cut their target price on shares of Western Digital from $95.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Susquehanna decreased their price target on shares of Western Digital from $88.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Evercore ISI reaffirmed an “outperform” rating and set a $85.00 price objective on shares of Western Digital in a research note on Thursday, August 15th. Rosenblatt Securities reiterated a “buy” rating and set a $115.00 target price on shares of Western Digital in a report on Thursday, August 1st. Finally, TD Cowen cut their price objective on Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Western Digital currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.24.

Insider Transactions at Western Digital

In other news, SVP Gene M. Zamiska sold 417 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total transaction of $27,059.13. Following the transaction, the senior vice president now owns 28,870 shares in the company, valued at approximately $1,873,374.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Western Digital news, SVP Gene M. Zamiska sold 417 shares of Western Digital stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total value of $27,059.13. Following the completion of the sale, the senior vice president now owns 28,870 shares in the company, valued at $1,873,374.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert Soderbery sold 12,154 shares of the stock in a transaction that occurred 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 owns 128,413 shares in the company, valued at approximately $7,331,098.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,955 shares of company stock worth $6,327,560 over the last quarter. Company insiders own 0.28% of the company’s stock.

Western Digital Stock Up 0.7 %

WDC stock opened at $67.76 on Wednesday. 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 business’s 50 day simple moving average is $65.03 and its 200 day simple moving average is $69.81. Western Digital Co. has a 1-year low of $35.62 and a 1-year high of $81.55. The firm has a market capitalization of $22.13 billion, a PE ratio of -13.63 and a beta of 1.39.

Western Digital (NASDAQ:WDC) last posted its 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. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. The company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.77 billion. As a group, research analysts anticipate that Western Digital Co. will post 7.75 EPS for the current 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.