Intellectus Partners LLC Cuts Stock Holdings in Western Digital Co. (NASDAQ:WDC)

Intellectus Partners LLC cut its stake in shares of Western Digital Co. (NASDAQ:WDC) by 34.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,850 shares of the data storage provider’s stock after selling 4,080 shares during the period. Intellectus Partners LLC’s holdings in Western Digital were worth $411,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Czech National Bank lifted its position in Western Digital by 47.6% during the third quarter. Czech National Bank now owns 55,918 shares of the data storage provider’s stock valued at $2,552,000 after buying an additional 18,044 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Western Digital by 5.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 137,097 shares of the data storage provider’s stock valued at $6,256,000 after acquiring an additional 6,848 shares in the last quarter. Valeo Financial Advisors LLC purchased a new stake in Western Digital during the 3rd quarter worth $228,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Western Digital by 5.0% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 65,666 shares of the data storage provider’s stock valued at $2,996,000 after purchasing an additional 3,100 shares during the period. Finally, Xponance Inc. lifted its stake in shares of Western Digital by 2.6% during the third quarter. Xponance Inc. now owns 43,938 shares of the data storage provider’s stock worth $2,005,000 after purchasing an additional 1,112 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Barclays raised their target price on Western Digital from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Morgan Stanley upped their target price on shares of Western Digital from $83.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday. Rosenblatt Securities upgraded shares of Western Digital from a “neutral” rating to a “buy” rating in a report on Friday, April 5th. UBS Group upped their price objective on shares of Western Digital from $65.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. Finally, StockNews.com lowered Western Digital from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Western Digital presently has a consensus rating of “Moderate Buy” and an average target price of $77.25.

Western Digital Stock Performance

WDC opened at $71.36 on Monday. Western Digital Co. has a twelve month low of $32.01 and a twelve month high of $76.92. The stock has a market cap of $23.25 billion, a PE ratio of -14.36 and a beta of 1.56. The business’s 50 day moving average is $65.08 and its 200-day moving average is $55.09. The company has a current ratio of 1.86, a quick ratio of 1.07 and a debt-to-equity ratio of 0.72.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Thursday, April 25th. The data storage provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.42. Western Digital had a negative return on equity of 13.75% and a negative net margin of 12.87%. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.37 billion. During the same quarter in the prior year, the business posted ($1.57) earnings per share. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, analysts predict that Western Digital Co. will post -2.21 earnings per share for the current year.

Insider Transactions at Western Digital

In other news, SVP Gene M. Zamiska sold 443 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $75.00, for a total value of $33,225.00. Following the sale, the senior vice president now owns 30,958 shares of the company’s stock, valued at approximately $2,321,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Western Digital news, Director Kimberly Alexy sold 2,648 shares of Western Digital stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $69.95, for a total transaction of $185,227.60. Following the transaction, the director now directly owns 20,509 shares in the company, valued at approximately $1,434,604.55. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Gene M. Zamiska sold 443 shares of Western Digital stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $75.00, for a total value of $33,225.00. Following the transaction, the senior vice president now directly owns 30,958 shares in the company, valued at approximately $2,321,850. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

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.