Silver Oak Securities Incorporated Makes New $217,000 Investment in Western Digital Co. (NASDAQ:WDC)

Silver Oak Securities Incorporated purchased a new stake in Western Digital Co. (NASDAQ:WDC) in the fourth quarter, HoldingsChannel reports. The firm purchased 3,635 shares of the data storage provider’s stock, valued at approximately $217,000.

A number of other hedge funds have also modified their holdings of WDC. Sachem Head Capital Management LP grew its stake in Western Digital by 75.2% in the third quarter. Sachem Head Capital Management LP now owns 2,030,000 shares of the data storage provider’s stock valued at $138,629,000 after acquiring an additional 871,500 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Western Digital by 24.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,711,428 shares of the data storage provider’s stock valued at $253,453,000 after purchasing an additional 732,344 shares in the last quarter. Holocene Advisors LP grew its position in shares of Western Digital by 25.7% in the 3rd quarter. Holocene Advisors LP now owns 3,192,762 shares of the data storage provider’s stock valued at $218,034,000 after purchasing an additional 651,847 shares during the period. State Street Corp increased its stake in Western Digital by 3.2% during the 3rd quarter. State Street Corp now owns 13,572,686 shares of the data storage provider’s stock worth $926,879,000 after purchasing an additional 423,651 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. raised its holdings in Western Digital by 13.2% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 3,287,400 shares of the data storage provider’s stock worth $224,497,000 after buying an additional 383,390 shares during the period. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Price Performance

Shares of NASDAQ WDC opened at $64.46 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average price is $64.94 and its two-hundred day moving average price is $65.14. The company has a market cap of $22.42 billion, a PE ratio of 15.35 and a beta of 1.44. Western Digital Co. has a twelve month low of $52.77 and a twelve month high of $81.55.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.36). Western Digital had a net margin of 9.95% and a return on equity of 15.68%. On average, analysts predict that Western Digital Co. will post 4.89 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on WDC. BNP Paribas reduced their price target on shares of Western Digital from $95.00 to $90.00 in a report on Thursday, October 24th. The Goldman Sachs Group upped their price objective on Western Digital from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Robert W. Baird dropped their target price on Western Digital from $100.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Morgan Stanley reduced their price target on Western Digital from $100.00 to $93.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Wedbush reiterated an “outperform” rating and issued a $95.00 price objective on shares of Western Digital in a report on Thursday, January 30th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.21.

Insider Activity

In other news, SVP Gene M. Zamiska sold 658 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total transaction of $46,053.42. Following the transaction, the senior vice president now owns 28,863 shares in the company, valued at approximately $2,020,121.37. This trade represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 1,347 shares of company stock valued at $93,027 over the last ninety days. 0.30% of the stock is currently owned by company insiders.

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.