True Wealth Design LLC Has $30,000 Position in Western Digital Co. (NASDAQ:WDC)

True Wealth Design LLC lifted its position in Western Digital Co. (NASDAQ:WDC) by 2,184.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 434 shares of the data storage provider’s stock after acquiring an additional 415 shares during the period. True Wealth Design LLC’s holdings in Western Digital were worth $30,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of WDC. B. Riley Wealth Advisors Inc. grew its stake in Western Digital by 6.8% in the first 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 during the period. Tidal Investments LLC increased its stake in Western Digital by 25.4% during the 1st quarter. Tidal Investments LLC now owns 4,916 shares of the data storage provider’s stock worth $335,000 after purchasing an additional 997 shares in the last quarter. GAMMA Investing LLC raised its holdings in Western Digital by 173.1% during the 2nd quarter. GAMMA Investing LLC now owns 5,334 shares of the data storage provider’s stock worth $404,000 after buying an additional 3,381 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in Western Digital by 15.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,527 shares of the data storage provider’s stock worth $116,000 after buying an additional 206 shares during the period. Finally, Mather Group LLC. lifted its stake in Western Digital by 10.7% in the second quarter. Mather Group LLC. now owns 2,203 shares of the data storage provider’s stock valued at $167,000 after buying an additional 213 shares in the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insider Buying and Selling

In other Western Digital news, CEO David Goeckeler sold 75,000 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $70.32, for a total transaction of $5,274,000.00. Following the transaction, the chief executive officer now owns 896,630 shares in the company, valued at $63,051,021.60. This trade represents a 7.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Gene M. Zamiska sold 2,169 shares of Western Digital stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $61.96, for a total value of $134,391.24. Following the sale, the senior vice president now directly owns 32,601 shares of the company’s stock, valued at $2,019,957.96. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 185,963 shares of company stock valued at $13,154,039. Company insiders own 0.30% of the company’s stock.

Western Digital Stock Performance

WDC opened at $72.99 on Monday. The company has a quick ratio of 0.91, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. Western Digital Co. has a 12-month low of $46.47 and a 12-month high of $81.55. The business has a 50 day moving average of $67.10 and a 200-day moving average of $69.09. The stock has a market cap of $25.23 billion, a price-to-earnings ratio of 42.94 and a beta of 1.40.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, October 24th. The data storage provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.23. Western Digital had a return on equity of 8.57% and a net margin of 4.81%. The business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter last year, the firm posted ($1.97) EPS. The company’s quarterly revenue was up 48.9% on a year-over-year basis. On average, equities research analysts expect that Western Digital Co. will post 6.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WDC has been the topic of a number of research analyst reports. BNP Paribas dropped their price objective on shares of Western Digital from $95.00 to $90.00 in a report on Thursday, October 24th. Evercore ISI reaffirmed an “outperform” rating and set a $85.00 price objective on shares of Western Digital in a research report on Thursday, August 15th. Morgan Stanley increased their price objective on Western Digital from $94.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Susquehanna boosted their target price on Western Digital from $75.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $115.00 price target on shares of Western Digital in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $87.71.

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.