NEOS Investment Management LLC Purchases 3,727 Shares of Western Digital Co. (NASDAQ:WDC)

NEOS Investment Management LLC raised its position in Western Digital Co. (NASDAQ:WDC) by 29.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 16,479 shares of the data storage provider’s stock after purchasing an additional 3,727 shares during the period. NEOS Investment Management LLC’s holdings in Western Digital were worth $983,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WDC. Advisors Asset Management Inc. lifted its stake in shares of Western Digital by 32.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,418 shares of the data storage provider’s stock worth $97,000 after acquiring an additional 344 shares during the last quarter. D.A. Davidson & CO. increased its stake in Western Digital by 19.1% in the third quarter. D.A. Davidson & CO. now owns 6,235 shares of the data storage provider’s stock worth $426,000 after purchasing an additional 1,000 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Western Digital during the third quarter valued at $45,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Western Digital by 0.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 95,385 shares of the data storage provider’s stock worth $6,514,000 after purchasing an additional 840 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Western Digital by 24.6% in 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 worth $253,453,000 after buying an additional 732,344 shares during the period. Institutional investors own 92.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WDC. Cantor Fitzgerald dropped their target price on shares of Western Digital from $95.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Rosenblatt Securities lowered their price target on Western Digital from $115.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Susquehanna reduced their price objective on Western Digital from $83.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Mizuho lowered their target price on Western Digital from $90.00 to $82.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Finally, Barclays cut their price target on Western Digital from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Western Digital has an average rating of “Moderate Buy” and an average target price of $80.21.

Western Digital Stock Down 3.1 %

NASDAQ:WDC opened at $40.62 on Friday. 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 twelve month low of $39.42 and a twelve month high of $81.55. The company has a market cap of $14.13 billion, a PE ratio of 9.67 and a beta of 1.42. The company’s 50 day moving average is $55.69 and its two-hundred day moving average is $62.41.

Western Digital (NASDAQ:WDC) last issued its earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (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%. Analysts anticipate that Western Digital Co. will post 4.89 EPS for the current year.

Insider Activity at Western Digital

In related news, SVP Gene M. Zamiska sold 1,659 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $41.36, for a total transaction of $68,616.24. Following the completion of the transaction, the senior vice president now owns 43,776 shares of the company’s stock, valued at $1,810,575.36. This trade represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.30% of the stock is owned by insiders.

About Western Digital

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.