UniSuper Management Pty Ltd Purchases 16,709 Shares of Western Digital Co. (NASDAQ:WDC)

UniSuper Management Pty Ltd increased its position in shares of Western Digital Co. (NASDAQ:WDC) by 42.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,297 shares of the data storage provider’s stock after acquiring an additional 16,709 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Western Digital were worth $3,842,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Lindbrook Capital LLC raised its position in Western Digital by 37.3% during the first quarter. Lindbrook Capital LLC now owns 843 shares of the data storage provider’s stock worth $58,000 after acquiring an additional 229 shares during the period. Signaturefd LLC grew its holdings in shares of Western Digital by 10.9% in the fourth quarter. Signaturefd LLC now owns 2,577 shares of the data storage provider’s stock valued at $135,000 after purchasing an additional 254 shares in the last quarter. Czech National Bank grew its holdings in Western Digital by 0.5% during the 1st quarter. Czech National Bank now owns 57,050 shares of the data storage provider’s stock worth $3,893,000 after acquiring an additional 261 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of Western Digital by 1.1% during the 4th quarter. Corient Private Wealth LLC now owns 32,611 shares of the data storage provider’s stock worth $1,708,000 after buying an additional 343 shares during the last quarter. Finally, Rise Advisors LLC purchased a new stake in Western Digital in the 1st quarter valued at $25,000. Institutional investors own 92.51% of the company’s stock.

Western Digital Stock Performance

WDC traded down $0.10 on Tuesday, hitting $72.96. The company had a trading volume of 2,783,190 shares, compared to its average volume of 6,307,225. The company’s fifty day moving average price is $76.09 and its 200 day moving average price is $67.45. Western Digital Co. has a 1-year low of $35.62 and a 1-year high of $81.55. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.86 and a quick ratio of 1.07. The stock has a market cap of $23.82 billion, a price-to-earnings ratio of -14.68 and a beta of 1.37.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, April 25th. The data storage provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.42. Western Digital had a negative return on equity of 13.75% and a negative net margin of 12.87%. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.37 billion. During the same period in the previous year, the business posted ($1.57) earnings per share. Western Digital’s quarterly revenue was up 23.3% on a year-over-year basis. Equities analysts predict that Western Digital Co. will post -1.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Western Digital

In other Western Digital news, EVP Robert Soderbery sold 26,853 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $73.48, for a total value of $1,973,158.44. Following the completion of the sale, the executive vice president now directly owns 144,623 shares in the company, valued at $10,626,898.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Western Digital news, EVP Robert Soderbery sold 26,853 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $73.48, for a total value of $1,973,158.44. Following the completion of the transaction, the executive vice president now directly owns 144,623 shares in the company, valued at $10,626,898.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Gene M. Zamiska sold 416 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $71.88, for a total value of $29,902.08. Following the completion of the sale, the senior vice president now directly owns 30,321 shares of the company’s stock, valued at $2,179,473.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,488 shares of company stock valued at $2,020,143. 0.28% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on WDC. Wedbush upped their price target on shares of Western Digital from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday. Barclays upped their price target on shares of Western Digital from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Loop Capital upped their price target on shares of Western Digital from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Morgan Stanley upped their target price on shares of Western Digital from $83.00 to $86.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Finally, Robert W. Baird increased their price objective on shares of Western Digital from $65.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Six analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $82.96.

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.