Nisa Investment Advisors LLC Grows Position in Western Digital Co. (NASDAQ:WDC)

Nisa Investment Advisors LLC boosted its stake in shares of Western Digital Co. (NASDAQ:WDC) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,252 shares of the data storage provider’s stock after purchasing an additional 285 shares during the period. Nisa Investment Advisors LLC’s holdings in Western Digital were worth $5,262,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Versant Capital Management Inc raised its position in shares of Western Digital by 278.9% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock worth $25,000 after buying an additional 304 shares during the period. Eastern Bank acquired a new position in shares of Western Digital in the 3rd quarter valued at about $27,000. True Wealth Design LLC grew its holdings in shares of Western Digital by 2,184.2% during the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock worth $30,000 after purchasing an additional 415 shares during the period. Capital Performance Advisors LLP acquired a new stake in Western Digital during the 3rd quarter worth approximately $41,000. Finally, Kathleen S. Wright Associates Inc. purchased a new position in Western Digital in the third quarter valued at approximately $42,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Wall Street Analyst Weigh In

WDC has been the subject of several research reports. Rosenblatt Securities reiterated a “buy” rating and set a $115.00 price objective on shares of Western Digital in a research note on Friday, October 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $95.00 price target on shares of Western Digital in a report on Friday, January 17th. UBS Group reduced their price objective on Western Digital from $74.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Wells Fargo & Company lowered their target price on Western Digital from $95.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Finally, Benchmark lowered Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price target on the stock. in a research report on Thursday, December 19th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.65.

Western Digital Price Performance

Shares of WDC opened at $67.41 on Friday. Western Digital Co. has a 52 week low of $52.77 and a 52 week high of $81.55. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49. The firm has a market cap of $23.30 billion, a price-to-earnings ratio of 39.65 and a beta of 1.43. The stock has a 50 day moving average of $65.77 and a 200-day moving average of $66.03.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, October 24th. The data storage provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.23. The firm had revenue of $4.10 billion during the quarter, compared to the consensus estimate 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 was up 48.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.97) earnings per share. As a group, analysts forecast that Western Digital Co. will post 5.54 EPS for the current year.

Insider Activity

In other news, EVP Robert Soderbery sold 30,767 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $68.01, for a total transaction of $2,092,463.67. Following the completion of the transaction, the executive vice president now owns 135,398 shares of the company’s stock, valued at approximately $9,208,417.98. The trade was a 18.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Gene M. Zamiska sold 658 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total transaction of $46,053.42. Following the completion of the sale, the senior vice president now directly owns 28,863 shares in the company, valued at approximately $2,020,121.37. This trade represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,107 shares of company stock valued at $2,324,881. Company insiders own 0.30% of the company’s stock.

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.