2 weeks Ago By Defense World Staff
Connective Capital Management LLC acquired a new stake in Western Digital Co. ( NASDAQ:WDC – Free Report ) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 13,679 shares of the data storage provider’s stock, valued at approximately $1,036,000.
Western Digital comprises approximately 1.9% of Connective Capital Management LLC’s investment portfolio, making the stock its 17th largest position. A number of other institutional investors and hedge funds have also recently modified their holdings of the stock.
Kodai Capital Management LP purchased a new stake in shares of Western Digital during the fourth quarter valued at $212,900,000. AGF Management Ltd. grew its stake in Western Digital by 28,925.
8% in the 2nd quarter. AGF Management Ltd. now owns 2,202,190 shares of the data storage provider’s stock worth $166,860,000 after acquiring an additional 2,194,603 shares in the last quarter.
1832 Asset Management L.P. increased its position in shares of Western Digital by 247.
0% during the second quarter. 1832 Asset Management L.P.
now owns 1,446,509 shares of the data storage provider’s stock worth $109,602,000 after acquiring an additional 1,029,658 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Western Digital by 1,089.7% during the first quarter.
Canada Pension Plan Investment Board now owns 1,071,600 shares of the data storage provider’s stock valued at $73,126,000 after acquiring an additional 981,527 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Western Digital by 39.6% in the second quarter.
Bank of New York Mellon Corp now owns 2,861,229 shares of the data storage provider’s stock valued at $216,795,000 after purchasing an additional 810,977 shares during the period. Hedge funds and other institutional investors own 92.51% of the company’s stock.
Analyst Ratings Changes Several research firms have issued reports on WDC. Summit Insights lowered shares of Western Digital from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Benchmark reaffirmed a “buy” rating and set a $92.
00 target price on shares of Western Digital in a research report on Thursday. Wedbush increased their price target on Western Digital from $85.00 to $95.
00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Loop Capital boosted their price target on Western Digital from $90.00 to $100.
00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $80.00 price objective on shares of Western Digital in a research report on Tuesday, September 10th.
Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.
24. Western Digital Stock Performance Western Digital stock opened at $69.42 on Monday.
The company has a fifty day simple moving average of $64.09 and a 200-day simple moving average of $69.70.
The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.
53. Western Digital Co. has a 52-week low of $35.
62 and a 52-week high of $81.55. Western Digital ( NASDAQ:WDC – Get Free Report ) last issued its earnings results on Wednesday, July 31st.
The data storage provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.
17. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.
75%. The business had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.
77 billion. As a group, sell-side analysts predict that Western Digital Co. will post 7.
75 EPS for the current year. Insiders Place Their Bets In other news, EVP Robert Soderbery sold 12,154 shares of Western Digital stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $57.
09, for a total transaction of $693,871.86. Following the sale, the executive vice president now owns 128,413 shares of the company’s stock, valued at approximately $7,331,098.
17. The transaction was disclosed in a filing with the SEC, which can be accessed through this link . In related news, EVP Robert Soderbery sold 12,154 shares of the firm’s stock in a transaction dated Monday, August 5th.
The stock was sold at an average price of $57.09, for a total transaction of $693,871.86.
Following the completion of the sale, the executive vice president now directly owns 128,413 shares of the company’s stock, valued at approximately $7,331,098.17. The sale was disclosed in a filing 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 dated Thursday, September 26th. The shares were sold at an average price of $70.32, for a total transaction of $5,274,000.
00. Following the completion of the transaction, the chief executive officer now directly owns 896,630 shares in the company, valued at approximately $63,051,021.60.
The disclosure for this sale can be found here . Insiders have sold 92,955 shares of company stock valued at $6,327,560 over the last ninety days. Company insiders own 0.
28% of the company’s stock. About Western Digital ( Free Report ) 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.
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