Western Digital Co. (NASDAQ:WDC) Holdings Lifted by AGF Management Ltd.

AGF Management Ltd. grew its position in Western Digital Co. (NASDAQ:WDC) by 28,925.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,202,190 shares of the data storage provider’s stock after purchasing an additional 2,194,603 shares during the period. Western Digital makes up approximately 0.9% of AGF Management Ltd.’s holdings, making the stock its 24th biggest position. AGF Management Ltd. owned 0.67% of Western Digital worth $166,860,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WDC. Rise Advisors LLC bought a new position in Western Digital in the 1st quarter worth about $25,000. Fidelis Capital Partners LLC acquired a new stake in shares of Western Digital in the 1st quarter worth approximately $30,000. SOA Wealth Advisors LLC. acquired a new stake in shares of Western Digital in the 1st quarter worth approximately $31,000. OFI Invest Asset Management acquired a new stake in shares of Western Digital in the 2nd quarter worth approximately $34,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Western Digital in the 2nd quarter worth approximately $34,000. Institutional investors own 92.51% of the company’s stock.

Western Digital Stock Up 0.3 %

Western Digital stock opened at $62.79 on Wednesday. The firm’s 50 day moving average price is $66.83 and its two-hundred day moving average price is $69.31. Western Digital Co. has a twelve month low of $35.62 and a twelve month high of $81.55. The firm has a market cap of $21.57 billion, a PE ratio of -12.63 and a beta of 1.39. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 1.32.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.08 by $0.17. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. The company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.77 billion. On average, research analysts predict that Western Digital Co. will post 7.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Evercore ISI reaffirmed an “outperform” rating and issued a $85.00 price target on shares of Western Digital in a research note on Thursday, August 15th. Susquehanna reduced their price target on shares of Western Digital from $88.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Loop Capital increased their target price 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. Mizuho increased their target price on shares of Western Digital from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, StockNews.com raised shares of Western Digital from a “sell” rating to a “hold” rating in a research note on Saturday, July 6th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.82.

Insider Transactions at Western Digital

In other news, EVP Robert Soderbery sold 12,154 shares of the stock in a transaction 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 transaction, the executive vice president now owns 128,413 shares in the company, valued at approximately $7,331,098.17. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Robert Soderbery sold 12,154 shares of the company’s stock in a transaction 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 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Gene M. Zamiska sold 417 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total transaction of $27,059.13. Following the sale, the senior vice president now directly owns 28,870 shares of the company’s stock, valued at $1,873,374.30. The disclosure for this sale can be found here. Insiders have sold a total of 18,174 shares of company stock worth $1,070,642 in the last 90 days. 0.28% of the stock is owned by insiders.

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.