Western Digital Co. (NASDAQ:WDC) Shares Acquired by Permit Capital LLC

Permit Capital LLC increased its holdings in shares of Western Digital Co. (NASDAQ:WDCGet Rating) by 13.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 139,100 shares of the data storage provider’s stock after purchasing an additional 16,500 shares during the period. Western Digital makes up approximately 2.4% of Permit Capital LLC’s holdings, making the stock its 6th largest position. Permit Capital LLC’s holdings in Western Digital were worth $9,071,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of WDC. Vident Investment Advisory LLC increased its stake in Western Digital by 185.8% during the third quarter. Vident Investment Advisory LLC now owns 35,267 shares of the data storage provider’s stock valued at $1,991,000 after acquiring an additional 22,928 shares during the period. Fifth Third Bancorp increased its stake in Western Digital by 103.4% during the fourth quarter. Fifth Third Bancorp now owns 3,942 shares of the data storage provider’s stock valued at $257,000 after acquiring an additional 2,004 shares during the period. CIBC Asset Management Inc increased its stake in Western Digital by 5.9% during the fourth quarter. CIBC Asset Management Inc now owns 29,472 shares of the data storage provider’s stock valued at $1,922,000 after acquiring an additional 1,644 shares during the period. Tegean Capital Management LLC bought a new position in Western Digital during the fourth quarter valued at about $8,151,000. Finally, OPSEU Pension Plan Trust Fund increased its stake in Western Digital by 1.6% during the fourth quarter. OPSEU Pension Plan Trust Fund now owns 28,358 shares of the data storage provider’s stock valued at $1,887,000 after acquiring an additional 450 shares during the period. 81.11% of the stock is owned by institutional investors and hedge funds.

Shares of WDC stock traded down $1.20 during trading hours on Friday, reaching $56.81. The company had a trading volume of 3,147,243 shares, compared to its average volume of 5,655,017. The company has a 50 day moving average of $51.89 and a 200 day moving average of $55.23. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.09 and a quick ratio of 1.25. The firm has a market cap of $17.79 billion, a price-to-earnings ratio of 9.85 and a beta of 1.42. Western Digital Co. has a 1-year low of $43.85 and a 1-year high of $78.19.

Western Digital (NASDAQ:WDCGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The data storage provider reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.14. The company had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.34 billion. Western Digital had a return on equity of 20.88% and a net margin of 9.49%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 EPS. As a group, sell-side analysts forecast that Western Digital Co. will post 7.26 EPS for the current fiscal year.

In other news, SVP Gene M. Zamiska sold 4,776 shares of the stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $63.00, for a total value of $300,888.00. Following the transaction, the senior vice president now owns 26,719 shares of the company’s stock, valued at approximately $1,683,297. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Several equities analysts recently issued reports on the company. TheStreet upgraded Western Digital from a “c+” rating to a “b” rating in a research note on Thursday, January 27th. Susquehanna Bancshares lowered Western Digital from a “positive” rating to a “neutral” rating and lowered their price objective for the company from $80.00 to $50.00 in a research note on Thursday, April 14th. Citigroup lowered their price objective on Western Digital from $80.00 to $75.00 in a research note on Friday, January 28th. Cowen upped their price objective on Western Digital from $60.00 to $65.00 in a research note on Friday, April 29th. Finally, Susquehanna upped their price objective on Western Digital from $50.00 to $66.00 in a research note on Wednesday, May 4th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $69.44.

Western Digital Profile (Get Rating)

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 computing devices, such as desktop and notebook personal computers (PCs), smart video systems, gaming consoles, and set top boxes; 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; and flash-based memory wafers.

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Institutional Ownership by Quarter for Western Digital (NASDAQ:WDC)

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