Farther Finance Advisors LLC Acquires 256 Shares of Western Digital Co. (NASDAQ:WDC)

Farther Finance Advisors LLC increased its holdings in Western Digital Co. (NASDAQ:WDC) by 8.4% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 3,309 shares of the data storage provider’s stock after buying an additional 256 shares during the quarter. Farther Finance Advisors LLC’s holdings in Western Digital were worth $197,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of WDC. Versant Capital Management Inc increased its holdings in 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 in the last quarter. Sierra Ocean LLC purchased a new position in Western Digital in the fourth quarter worth about $29,000. True Wealth Design LLC boosted its position in Western Digital by 2,184.2% in the third 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 last quarter. Comprehensive Financial Planning Inc. PA purchased a new position in Western Digital in the fourth quarter worth about $30,000. Finally, OFI Invest Asset Management purchased a new position in Western Digital in the fourth quarter worth about $36,000. 92.51% of the stock is currently owned by institutional investors.

Western Digital Stock Up 1.3 %

NASDAQ WDC opened at $44.90 on Thursday. The stock’s 50 day moving average is $58.58 and its 200 day moving average is $63.39. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60. Western Digital Co. has a 12 month low of $39.42 and a 12 month high of $81.55. The stock has a market cap of $15.62 billion, a PE ratio of 10.69 and a beta of 1.42.

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

Insiders Place Their Bets

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of Western Digital stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $41.36, for a total value of $68,616.24. Following the sale, the senior vice president now owns 43,776 shares of the company’s stock, valued at $1,810,575.36. The trade was a 3.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WDC. Rosenblatt Securities dropped their target price on Western Digital from $115.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Wedbush reissued an “outperform” rating and issued a $95.00 target price on shares of Western Digital in a research report on Monday, February 10th. UBS Group dropped their target price on Western Digital from $74.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday. Cantor Fitzgerald lowered their price objective on Western Digital from $95.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Finally, Bank of America lowered their price objective on Western Digital from $89.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.21.

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.