Hendley & Co. Inc. Takes Position in Western Digital Corp (NASDAQ:WDC)

Hendley & Co. Inc. bought a new stake in Western Digital Corp (NASDAQ:WDC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 55,075 shares of the data storage provider’s stock, valued at approximately $2,036,000.

Several other large investors have also added to or reduced their stakes in WDC. Alpha Omega Wealth Management LLC raised its position in shares of Western Digital by 4,440.0% during the 4th quarter. Alpha Omega Wealth Management LLC now owns 681 shares of the data storage provider’s stock worth $25,000 after acquiring an additional 666 shares in the last quarter. New Jersey Better Educational Savings Trust raised its stake in Western Digital by 11.1% during the third quarter. New Jersey Better Educational Savings Trust now owns 10,000 shares of the data storage provider’s stock valued at $585,000 after buying an additional 1,000 shares in the last quarter. Chemical Bank grew its holdings in Western Digital by 10.8% in the 3rd quarter. Chemical Bank now owns 10,885 shares of the data storage provider’s stock worth $637,000 after buying an additional 1,065 shares in the last quarter. Xact Kapitalforvaltning AB boosted its stake in Western Digital by 1.5% during the 3rd quarter. Xact Kapitalforvaltning AB now owns 74,726 shares of the data storage provider’s stock valued at $4,374,000 after purchasing an additional 1,085 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Western Digital by 25.3% during the 3rd quarter. Bessemer Group Inc. now owns 5,394 shares of the data storage provider’s stock worth $315,000 after acquiring an additional 1,088 shares in the last quarter. Institutional investors and hedge funds own 86.63% of the company’s stock.

Several equities research analysts have commented on the stock. Loop Capital cut shares of Western Digital from a “buy” rating to a “hold” rating and cut their price target for the stock from $80.00 to $42.00 in a research report on Monday, October 29th. Zacks Investment Research raised shares of Western Digital from a “strong sell” rating to a “hold” rating in a research report on Monday, December 31st. Stifel Nicolaus cut their target price on shares of Western Digital from $60.00 to $48.00 and set a “buy” rating for the company in a report on Friday, January 25th. Royal Bank of Canada dropped their target price on Western Digital to $40.00 and set a “sector perform” rating on the stock in a research report on Friday, January 18th. Finally, BidaskClub upgraded Western Digital from a “sell” rating to a “hold” rating in a report on Tuesday, February 5th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $68.22.

Shares of WDC stock opened at $47.69 on Thursday. Western Digital Corp has a 52 week low of $33.83 and a 52 week high of $106.96. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.45 and a current ratio of 2.24. The stock has a market capitalization of $13.62 billion, a price-to-earnings ratio of 3.53, a P/E/G ratio of 0.52 and a beta of 1.43.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, January 24th. The data storage provider reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.18. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.26 billion. Western Digital had a net margin of 4.34% and a return on equity of 28.88%. The business’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.95 EPS. Research analysts predict that Western Digital Corp will post 4.7 earnings per share for the current year.

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Western Digital Company Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.

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Institutional Ownership by Quarter for Western Digital (NASDAQ:WDC)

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