Regentatlantic Capital LLC decreased its holdings in shares of Western Digital Corp (NASDAQ:WDC) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,376 shares of the data storage provider’s stock after selling 1,321 shares during the period. Regentatlantic Capital LLC’s holdings in Western Digital were worth $1,492,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Western Digital by 17.6% during the 1st quarter. BlackRock Inc. now owns 28,802,905 shares of the data storage provider’s stock valued at $1,384,267,000 after purchasing an additional 4,308,455 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Western Digital by 14.1% during the 1st quarter. Clearbridge Investments LLC now owns 9,884,919 shares of the data storage provider’s stock valued at $475,069,000 after purchasing an additional 1,224,950 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Western Digital by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 4,730,731 shares of the data storage provider’s stock valued at $174,707,000 after purchasing an additional 179,818 shares in the last quarter. FMR LLC boosted its position in shares of Western Digital by 50.8% during the 4th quarter. FMR LLC now owns 4,576,631 shares of the data storage provider’s stock valued at $169,198,000 after purchasing an additional 1,540,813 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Western Digital by 3.4% during the 1st quarter. Northern Trust Corp now owns 3,298,643 shares of the data storage provider’s stock valued at $158,532,000 after purchasing an additional 107,847 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.
Several equities research analysts recently commented on the company. Longbow Research upped their target price on Western Digital from $55.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday. Benchmark restated a “sell” rating and set a $40.00 target price on shares of Western Digital in a research report on Thursday. Wells Fargo & Co upped their target price on Western Digital from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday. Deutsche Bank upped their price target on Western Digital from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Goldman Sachs Group set a $54.00 price target on Western Digital and gave the stock a “hold” rating in a research note on Sunday, July 21st. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Western Digital has an average rating of “Hold” and an average target price of $59.98.
Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Wednesday, July 31st. The data storage provider reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.22. The firm had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.67 billion. Western Digital had a positive return on equity of 10.52% and a negative net margin of 4.55%. The company’s quarterly revenue was down 29.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.61 earnings per share. On average, equities research analysts forecast that Western Digital Corp will post 1.62 earnings per share for the current fiscal year.
Western Digital 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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