Seelaus Asset Management LLC Takes $408,000 Position in Western Digital Co. (NASDAQ:WDC)

Seelaus Asset Management LLC bought a new stake in Western Digital Co. (NASDAQ:WDC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,845 shares of the data storage provider’s stock, valued at approximately $408,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its holdings in shares of Western Digital by 278.9% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock valued at $25,000 after purchasing an additional 304 shares during the period. Eastern Bank acquired a new position in Western Digital in the 3rd quarter worth approximately $27,000. True Wealth Design LLC raised its position in Western Digital by 2,184.2% during the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock worth $30,000 after buying an additional 415 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Western Digital during the 3rd quarter valued at approximately $41,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of Western Digital in the 3rd quarter valued at $42,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital Stock Down 0.0 %

Shares of WDC opened at $64.46 on Friday. The stock has a 50 day moving average price of $64.94 and a 200 day moving average price of $65.19. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99. The stock has a market capitalization of $22.42 billion, a price-to-earnings ratio of 15.35 and a beta of 1.44. Western Digital Co. has a one year low of $52.77 and a one year high of $81.55.

Western Digital (NASDAQ:WDC) last released its earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. Equities research analysts forecast that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WDC. BNP Paribas reduced their target price on shares of Western Digital from $95.00 to $90.00 in a report on Thursday, October 24th. Susquehanna reduced their price objective on Western Digital from $83.00 to $72.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Wedbush restated an “outperform” rating and issued a $95.00 target price on shares of Western Digital in a research note on Thursday, January 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $95.00 price target on shares of Western Digital in a research report on Thursday, January 30th. Finally, Bank of America decreased their price target on Western Digital from $89.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Western Digital currently has an average rating of “Moderate Buy” and a consensus price target of $84.21.

Insider Buying and Selling at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 658 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total value of $46,053.42. Following the completion of the sale, the senior vice president now directly owns 28,863 shares in the company, valued at $2,020,121.37. This represents a 2.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 1,347 shares of company stock worth $93,027. Insiders own 0.30% of the company’s stock.

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.