Fairfield Financial Advisors LTD Invests $29,000 in Western Digital Co. (NASDAQ:WDC)

Fairfield Financial Advisors LTD acquired a new position in shares of Western Digital Co. (NASDAQ:WDC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 388 shares of the data storage provider’s stock, valued at approximately $29,000.

Several other large investors also recently added to or reduced their stakes in WDC. Kodai Capital Management LP bought a new stake in Western Digital during the fourth quarter worth approximately $212,900,000. Norges Bank bought a new stake in Western Digital during the fourth quarter worth approximately $150,958,000. AGF Management Ltd. increased its stake in Western Digital by 28,925.8% during the second quarter. AGF Management Ltd. now owns 2,202,190 shares of the data storage provider’s stock worth $166,860,000 after acquiring an additional 2,194,603 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Western Digital by 1,089.7% during the first quarter. Canada Pension Plan Investment Board now owns 1,071,600 shares of the data storage provider’s stock worth $73,126,000 after acquiring an additional 981,527 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in Western Digital during the fourth quarter worth approximately $48,466,000. 92.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on WDC shares. StockNews.com raised Western Digital from a “sell” rating to a “hold” rating in a research note on Saturday, July 6th. Susquehanna dropped their target price on Western Digital from $88.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $80.00 target price on shares of Western Digital in a research report on Tuesday, September 10th. Mizuho boosted their target price on Western Digital from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, Loop Capital boosted their target price on Western Digital from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.05.

Insider Activity

In related news, SVP Gene M. Zamiska sold 417 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total value of $27,059.13. Following the completion of the transaction, the senior vice president now owns 28,870 shares in the company, valued at approximately $1,873,374.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Gene M. Zamiska sold 417 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total value of $27,059.13. Following the completion of the transaction, the senior vice president now owns 28,870 shares in the company, valued at approximately $1,873,374.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Soderbery sold 12,154 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $57.09, for a total value of $693,871.86. Following the completion of the transaction, the executive vice president now owns 128,413 shares of the company’s stock, valued at approximately $7,331,098.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,955 shares of company stock worth $1,053,560. Insiders own 0.28% of the company’s stock.

Western Digital Stock Up 2.8 %

Shares of NASDAQ WDC opened at $65.02 on Monday. The company has a current ratio of 1.32, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $21.23 billion, a PE ratio of -13.08 and a beta of 1.39. The stock’s fifty day simple moving average is $66.01 and its two-hundred day simple moving average is $69.45. Western Digital Co. has a 12-month low of $35.62 and a 12-month high of $81.55.

Western Digital (NASDAQ:WDC) last announced its earnings results on Wednesday, July 31st. The data storage provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.17. The business had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.75%. As a group, analysts expect that Western Digital Co. will post 7.75 EPS for the current fiscal year.

Western Digital Company 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.