Huntington National Bank Has $89,000 Stock Position in Western Digital Co. (NASDAQ:WDC)

Huntington National Bank boosted its stake in shares of Western Digital Co. (NASDAQ:WDC) by 67.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,296 shares of the data storage provider’s stock after acquiring an additional 522 shares during the quarter. Huntington National Bank’s holdings in Western Digital were worth $89,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in Western Digital by 1.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 15,962 shares of the data storage provider’s stock valued at $1,209,000 after acquiring an additional 203 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of Western Digital by 15.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,527 shares of the data storage provider’s stock valued at $116,000 after purchasing an additional 206 shares during the last quarter. Mather Group LLC. grew its position in shares of Western Digital by 10.7% during the 2nd quarter. Mather Group LLC. now owns 2,203 shares of the data storage provider’s stock worth $167,000 after buying an additional 213 shares during the period. Hanseatic Management Services Inc. raised its stake in shares of Western Digital by 2.3% during the second quarter. Hanseatic Management Services Inc. now owns 10,344 shares of the data storage provider’s stock worth $784,000 after buying an additional 236 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Western Digital by 6.0% in the third quarter. Van ECK Associates Corp now owns 4,696 shares of the data storage provider’s stock valued at $313,000 after buying an additional 267 shares during the period. Institutional investors and hedge funds own 92.51% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $115.00 target price on shares of Western Digital in a research report on Friday, October 25th. Benchmark reiterated a “buy” rating and issued a $92.00 price objective on shares of Western Digital in a report on Friday, October 25th. Summit Insights cut Western Digital from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Cantor Fitzgerald upped their price target on Western Digital from $80.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, TD Cowen reduced their price objective on shares of Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.71.

Western Digital Trading Up 2.8 %

NASDAQ:WDC opened at $64.58 on Tuesday. The company has a market cap of $22.33 billion, a P/E ratio of 37.99 and a beta of 1.40. Western Digital Co. has a twelve month low of $46.05 and a twelve month high of $81.55. The business has a 50 day moving average price of $66.34 and a two-hundred day moving average price of $69.26. The company has a quick ratio of 0.91, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, October 24th. The data storage provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.55 by $0.23. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the prior year, the company posted ($1.97) earnings per share. The firm’s revenue was up 48.9% on a year-over-year basis. As a group, analysts expect that Western Digital Co. will post 6.56 EPS for the current fiscal year.

Insider Activity at Western Digital

In related news, EVP Robert Soderbery sold 30,767 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $68.01, for a total transaction of $2,092,463.67. Following the transaction, the executive vice president now directly owns 135,398 shares in the company, valued at approximately $9,208,417.98. The trade was a 18.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Gene M. Zamiska sold 2,900 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $61.48, for a total transaction of $178,292.00. Following the completion of the sale, the senior vice president now owns 37,448 shares of the company’s stock, valued at approximately $2,302,303.04. This represents a 7.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 188,561 shares of company stock valued at $13,309,042. 0.30% 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.