Carnegie Investment Counsel Purchases 1,000 Shares of Western Digital Co. (NASDAQ:WDC)

Carnegie Investment Counsel grew its position in shares of Western Digital Co. (NASDAQ:WDC) by 25.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,990 shares of the data storage provider’s stock after buying an additional 1,000 shares during the period. Carnegie Investment Counsel’s holdings in Western Digital were worth $378,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Oppenheimer & Co. Inc. bought a new position in Western Digital in the first quarter valued at $1,242,000. Bessemer Group Inc. raised its holdings in shares of Western Digital by 28.6% during the 1st quarter. Bessemer Group Inc. now owns 2,619 shares of the data storage provider’s stock valued at $179,000 after buying an additional 583 shares in the last quarter. Atria Wealth Solutions Inc. lifted its position in Western Digital by 2.9% in the 4th quarter. Atria Wealth Solutions Inc. now owns 14,113 shares of the data storage provider’s stock worth $739,000 after buying an additional 404 shares during the last quarter. AGF Management Ltd. purchased a new stake in Western Digital in the fourth quarter worth approximately $480,000. Finally, Handelsbanken Fonder AB grew its position in Western Digital by 23.1% during the fourth quarter. Handelsbanken Fonder AB now owns 81,346 shares of the data storage provider’s stock valued at $4,260,000 after acquiring an additional 15,285 shares during the last quarter. 92.51% of the stock is owned by institutional investors.

Insider Buying and Selling at Western Digital

In related news, EVP Robert Soderbery sold 26,853 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $73.48, for a total value of $1,973,158.44. Following the sale, the executive vice president now owns 144,623 shares in the company, valued at $10,626,898.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 39,226 shares of company stock valued at $2,684,112 over the last 90 days. 0.28% of the stock is currently owned by corporate insiders.

Western Digital Stock Performance

Shares of NASDAQ WDC traded down $0.04 during midday trading on Wednesday, hitting $64.38. 1,121,134 shares of the company’s stock traded hands, compared to its average volume of 6,542,068. The firm has a fifty day moving average of $71.10 and a 200 day moving average of $68.54. 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 0.51, a quick ratio of 0.83 and a current ratio of 1.41. The stock has a market capitalization of $21.02 billion, a price-to-earnings ratio of -12.96 and a beta of 1.37.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WDC. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 price objective on shares of Western Digital in a report on Thursday, August 1st. Mizuho boosted their target price on Western Digital from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Citigroup raised their price target on shares of Western Digital from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Morgan Stanley boosted their price objective on shares of Western Digital from $83.00 to $86.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Finally, Loop Capital raised their target price on shares of Western Digital from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Western Digital presently has a consensus rating of “Moderate Buy” and an average target price of $84.18.

Western Digital 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.