Western Digital Co. (NASDAQ:WDC) Shares Sold by Financial Sense Advisors Inc.

Financial Sense Advisors Inc. trimmed its holdings in Western Digital Co. (NASDAQ:WDC) by 99.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,625 shares of the data storage provider’s stock after selling 14,319,800 shares during the quarter. Western Digital comprises approximately 1.0% of Financial Sense Advisors Inc.’s portfolio, making the stock its 23rd biggest position. Financial Sense Advisors Inc.’s holdings in Western Digital were worth $3,113,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WDC. John G Ullman & Associates Inc. lifted its stake in Western Digital by 30.3% in the fourth quarter. John G Ullman & Associates Inc. now owns 103,750 shares of the data storage provider’s stock valued at $5,433,000 after buying an additional 24,100 shares during the last quarter. Atria Wealth Solutions Inc. lifted its stake in Western Digital by 2.9% in the fourth quarter. Atria Wealth Solutions Inc. now owns 14,113 shares of the data storage provider’s stock valued at $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 valued at approximately $480,000. CoreCap Advisors LLC purchased a new stake in Western Digital in the fourth quarter valued at approximately $1,415,000. Finally, Handelsbanken Fonder AB lifted its stake in Western Digital by 23.1% in the fourth quarter. Handelsbanken Fonder AB now owns 81,346 shares of the data storage provider’s stock valued at $4,260,000 after buying an additional 15,285 shares during the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WDC has been the subject of a number of research reports. Susquehanna boosted their price objective on Western Digital from $80.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, June 11th. UBS Group upped their price target on Western Digital from $65.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. Wedbush restated an “outperform” rating and set a $85.00 price target on shares of Western Digital in a research note on Friday, April 26th. Bank of America upped their price objective on Western Digital from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, Robert W. Baird upped their price objective on Western Digital from $65.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $82.09.

Western Digital Trading Down 0.3 %

WDC opened at $77.79 on Thursday. The business’s fifty day simple moving average is $74.78 and its 200 day simple moving average is $64.95. Western Digital Co. has a 52 week low of $35.62 and a 52 week high of $81.55. The company has a quick ratio of 1.07, a current ratio of 1.86 and a debt-to-equity ratio of 0.72.

Western Digital (NASDAQ:WDC) last released its earnings results on Thursday, April 25th. The data storage provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.42. Western Digital had a negative return on equity of 13.75% and a negative net margin of 12.87%. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.37 billion. During the same period in the prior year, the business posted ($1.57) earnings per share. The firm’s revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, equities analysts predict that Western Digital Co. will post -1.45 EPS for the current year.

Insider Buying and Selling

In other news, SVP Gene M. Zamiska sold 443 shares of Western Digital stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $75.00, for a total value of $33,225.00. Following the transaction, the senior vice president now directly owns 30,958 shares of the company’s stock, valued at approximately $2,321,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Robert Soderbery sold 26,853 shares of Western Digital stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $73.48, for a total value of $1,973,158.44. Following the transaction, the executive vice president now directly owns 144,623 shares of the company’s stock, valued at approximately $10,626,898.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Gene M. Zamiska sold 443 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $75.00, for a total value of $33,225.00. Following the transaction, the senior vice president now directly owns 30,958 shares in the company, valued at $2,321,850. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,931 shares of company stock worth $2,053,368. 0.25% of the stock is owned by company insiders.

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.