Prospera Private Wealth LLC Invests $66,000 in Western Digital Co. (NASDAQ:WDC)

Prospera Private Wealth LLC bought a new stake in shares of Western Digital Co. (NASDAQ:WDC) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 962 shares of the data storage provider’s stock, valued at approximately $66,000.

Other hedge funds also recently bought and sold shares of the company. Eastern Bank purchased a new position in shares of Western Digital in the third quarter valued at about $27,000. Fairfield Financial Advisors LTD bought a new stake in Western Digital during the 2nd quarter valued at approximately $29,000. OFI Invest Asset Management purchased a new position in Western Digital in the 2nd quarter worth approximately $34,000. 1620 Investment Advisors Inc. bought a new position in Western Digital in the 2nd quarter worth approximately $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Western Digital during the 2nd quarter valued at approximately $34,000. Institutional investors own 92.51% of the company’s stock.

Insider Buying and Selling

In other Western Digital news, SVP Gene M. Zamiska sold 2,900 shares of Western Digital stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $61.48, for a total value of $178,292.00. Following the transaction, the senior vice president now directly owns 37,448 shares of the company’s stock, valued at approximately $2,302,303.04. The trade was a 7.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Goeckeler sold 75,000 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $70.32, for a total value of $5,274,000.00. Following the transaction, the chief executive officer now directly owns 896,630 shares in the company, valued at approximately $63,051,021.60. The trade was a 7.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 188,144 shares of company stock valued at $13,281,983 over the last quarter. 0.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WDC. Benchmark reissued a “buy” rating and issued a $92.00 target price on shares of Western Digital in a report on Friday, October 25th. TD Cowen decreased their price target on shares of Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Morgan Stanley raised their price objective on Western Digital from $94.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Rosenblatt Securities reiterated a “buy” rating and issued a $115.00 target price on shares of Western Digital in a research report on Friday, October 25th. Finally, UBS Group dropped their price target on Western Digital from $74.00 to $72.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $87.71.

Western Digital Stock Up 3.1 %

Shares of NASDAQ WDC opened at $65.80 on Friday. The company has a market cap of $22.75 billion, a P/E ratio of 38.71 and a beta of 1.40. The firm has a 50-day simple moving average of $66.45 and a two-hundred day simple moving average of $69.16. Western Digital Co. has a 1 year low of $46.05 and a 1 year high of $81.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.91.

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