Royal London Asset Management Ltd. Has $6.58 Million Position in Western Digital Co. (NASDAQ:WDC)

Royal London Asset Management Ltd. raised its holdings in Western Digital Co. (NASDAQ:WDC) by 11.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 125,703 shares of the data storage provider’s stock after acquiring an additional 13,168 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Western Digital were worth $6,583,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC increased its stake in shares of Western Digital by 10.9% during the 4th quarter. Signaturefd LLC now owns 2,577 shares of the data storage provider’s stock worth $135,000 after purchasing an additional 254 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Western Digital by 79.1% during the 3rd quarter. Parkside Financial Bank & Trust now owns 747 shares of the data storage provider’s stock worth $34,000 after purchasing an additional 330 shares during the last quarter. Lindbrook Capital LLC increased its stake in shares of Western Digital by 121.7% during the 4th quarter. Lindbrook Capital LLC now owns 614 shares of the data storage provider’s stock worth $32,000 after purchasing an additional 337 shares during the last quarter. Natixis Advisors L.P. increased its stake in shares of Western Digital by 0.9% during the 3rd quarter. Natixis Advisors L.P. now owns 37,156 shares of the data storage provider’s stock worth $1,695,000 after purchasing an additional 338 shares during the last quarter. Finally, Wahed Invest LLC increased its stake in shares of Western Digital by 7.3% during the 3rd quarter. Wahed Invest LLC now owns 5,010 shares of the data storage provider’s stock worth $229,000 after purchasing an additional 340 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Western Digital

In other Western Digital news, Director Kimberly Alexy sold 2,648 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $69.95, for a total value of $185,227.60. Following the completion of the transaction, the director now directly owns 20,509 shares in the company, valued at approximately $1,434,604.55. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Gene M. Zamiska sold 443 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $75.00, for a total transaction of $33,225.00. Following the completion of the sale, the senior vice president now directly owns 30,958 shares in the company, valued at $2,321,850. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Kimberly Alexy sold 2,648 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.95, for a total transaction of $185,227.60. Following the sale, the director now owns 20,509 shares of the company’s stock, valued at $1,434,604.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,360 shares of company stock worth $2,221,513. 0.28% of the stock is currently owned by company insiders.

Western Digital Price Performance

Shares of Western Digital stock traded down $1.46 on Friday, reaching $78.12. 3,152,422 shares of the stock were exchanged, compared to its average volume of 4,994,101. The firm’s 50 day moving average is $73.01 and its 200-day moving average is $62.23. Western Digital Co. has a one year low of $35.62 and a one year high of $80.47. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.07 and a current ratio of 1.86. The firm has a market cap of $25.51 billion, a PE ratio of -15.72 and a beta of 1.45.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, April 25th. The data storage provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.21 by $0.42. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.37 billion. Western Digital had a negative net margin of 12.87% and a negative return on equity of 13.75%. The firm’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.57) EPS. As a group, analysts anticipate that Western Digital Co. will post -1.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WDC shares. Robert W. Baird upped their price target on shares of Western Digital from $65.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Loop Capital upped their price target on shares of Western Digital from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Wells Fargo & Company upped their price target on shares of Western Digital from $72.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Bank of America upped their price target on shares of Western Digital from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Finally, Morgan Stanley upped their price target on shares of Western Digital from $83.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Six research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $82.09.

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.