Shulman DeMeo Asset Management LLC Has $377,000 Holdings in Western Digital Co. (NASDAQ:WDC)

Shulman DeMeo Asset Management LLC trimmed its position in Western Digital Co. (NASDAQ:WDC) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,518 shares of the data storage provider’s stock after selling 193 shares during the period. Shulman DeMeo Asset Management LLC’s holdings in Western Digital were worth $377,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Swedbank AB raised its position in shares of Western Digital by 19.7% in the 3rd quarter. Swedbank AB now owns 291,777 shares of the data storage provider’s stock valued at $19,925,000 after acquiring an additional 47,965 shares during the period. Creative Planning raised its position in shares of Western Digital by 4.5% in the 3rd quarter. Creative Planning now owns 42,408 shares of the data storage provider’s stock valued at $2,896,000 after acquiring an additional 1,835 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Western Digital in the 3rd quarter valued at approximately $42,000. ORG Wealth Partners LLC acquired a new stake in shares of Western Digital in the 3rd quarter valued at approximately $112,000. Finally, Sound Income Strategies LLC raised its position in shares of Western Digital by 8.6% in the 3rd quarter. Sound Income Strategies LLC now owns 67,018 shares of the data storage provider’s stock valued at $4,577,000 after acquiring an additional 5,296 shares during the period. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Western Digital news, SVP Gene M. Zamiska sold 417 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total value of $27,059.13. Following the completion of the transaction, the senior vice president now directly owns 28,870 shares in the company, valued at approximately $1,873,374.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Western Digital news, SVP Gene M. Zamiska sold 417 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total value of $27,059.13. Following the completion of the transaction, the senior vice president now directly owns 28,870 shares in the company, valued at approximately $1,873,374.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David Goeckeler sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $70.32, for a total transaction of $5,274,000.00. Following the completion of the transaction, the chief executive officer now owns 896,630 shares of the company’s stock, valued at approximately $63,051,021.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,955 shares of company stock worth $6,327,560 in the last three months. 0.28% of the stock is owned by corporate insiders.

Western Digital Price Performance

Shares of NASDAQ:WDC traded up $0.12 during midday trading on Tuesday, hitting $66.95. The stock had a trading volume of 5,029,308 shares, compared to its average volume of 6,150,173. The company’s 50-day moving average price is $64.16 and its 200-day moving average price is $69.91. The company has a market capitalization of $21.86 billion, a P/E ratio of -13.47 and a beta of 1.39. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.53. Western Digital Co. has a fifty-two week low of $35.62 and a fifty-two week high of $81.55.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on WDC shares. Susquehanna cut their price target on shares of Western Digital from $88.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. TD Cowen lowered their target price on Western Digital from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Citigroup lowered their target price on Western Digital from $95.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Evercore ISI reissued an “outperform” rating and set a $85.00 target price on shares of Western Digital in a research note on Thursday, August 15th. Finally, Wedbush increased their target price on Western Digital from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Western Digital has a consensus rating of “Moderate Buy” and a consensus target price of $84.24.

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.