Western Digital Co. (NASDAQ:WDC) Position Boosted by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in Western Digital Co. (NASDAQ:WDC) by 173.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,334 shares of the data storage provider’s stock after purchasing an additional 3,381 shares during the quarter. GAMMA Investing LLC’s holdings in Western Digital were worth $404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in WDC. Lindbrook Capital LLC lifted its stake in shares of Western Digital by 37.3% in the 1st quarter. Lindbrook Capital LLC now owns 843 shares of the data storage provider’s stock valued at $58,000 after purchasing an additional 229 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Western Digital by 10.9% during the 4th quarter. Signaturefd LLC now owns 2,577 shares of the data storage provider’s stock worth $135,000 after acquiring an additional 254 shares in the last quarter. Czech National Bank increased its holdings in shares of Western Digital by 0.5% during the 1st quarter. Czech National Bank now owns 57,050 shares of the data storage provider’s stock valued at $3,893,000 after acquiring an additional 261 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Western Digital by 6.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,401 shares of the data storage provider’s stock valued at $300,000 after acquiring an additional 280 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in Western Digital by 1.1% in the 4th quarter. Corient Private Wealth LLC now owns 32,611 shares of the data storage provider’s stock worth $1,708,000 after purchasing an additional 343 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Gene M. Zamiska sold 416 shares of Western Digital stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $71.88, for a total value of $29,902.08. Following the sale, the senior vice president now directly owns 30,321 shares in the company, valued at $2,179,473.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Western Digital news, EVP Robert Soderbery sold 26,853 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $73.48, for a total value of $1,973,158.44. Following the completion of the sale, the executive vice president now owns 144,623 shares in the company, valued at $10,626,898.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Gene M. Zamiska sold 416 shares of Western Digital stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $71.88, for a total transaction of $29,902.08. Following the completion of the transaction, the senior vice president now directly owns 30,321 shares of the company’s stock, valued at approximately $2,179,473.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,488 shares of company stock valued at $2,020,143. Company insiders own 0.28% of the company’s stock.

Western Digital Trading Down 5.5 %

WDC stock traded down $3.30 during midday trading on Friday, hitting $57.23. 13,250,778 shares of the company’s stock were exchanged, compared to its average volume of 7,218,047. Western Digital Co. has a one year low of $35.62 and a one year high of $81.55. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.07 and a current ratio of 1.41. The company has a market cap of $18.69 billion, a PE ratio of -11.52 and a beta of 1.37. The stock’s fifty day moving average price is $74.68 and its 200-day moving average price is $68.26.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $100.00 price target on shares of Western Digital in a research report on Thursday. Barclays increased their price objective on Western Digital from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. The Goldman Sachs Group boosted their target price on shares of Western Digital from $58.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Argus increased their price target on shares of Western Digital from $68.00 to $88.00 and gave the company a “buy” rating in a report on Monday, April 29th. Finally, Loop Capital boosted their price objective on shares of Western Digital from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.41.

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.