6,500 Shares in Western Digital Co. (NASDAQ:WDC) Purchased by Intellectus Partners LLC

Intellectus Partners LLC bought a new position in Western Digital Co. (NASDAQ:WDC) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 6,500 shares of the data storage provider’s stock, valued at approximately $463,000.

A number of other large investors have also recently added to or reduced their stakes in WDC. Point72 Asset Management L.P. lifted its position in Western Digital by 1,932.1% in the first quarter. Point72 Asset Management L.P. now owns 5,407,700 shares of the data storage provider’s stock valued at $360,964,000 after purchasing an additional 5,141,587 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in Western Digital in the second quarter valued at approximately $141,533,000. Shelter Haven Capital Management L.P. bought a new stake in Western Digital in the first quarter valued at approximately $46,564,000. Alliancebernstein L.P. lifted its position in Western Digital by 9.3% in the second quarter. Alliancebernstein L.P. now owns 6,148,920 shares of the data storage provider’s stock valued at $437,619,000 after purchasing an additional 524,468 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Western Digital in the first quarter valued at approximately $31,066,000. Institutional investors own 79.17% of the company’s stock.

Shares of NASDAQ:WDC traded up $1.92 during midday trading on Thursday, reaching $56.13. 77,316 shares of the company’s stock traded hands, compared to its average volume of 4,315,323. The company has a market cap of $17.49 billion, a price-to-earnings ratio of 20.85 and a beta of 1.58. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.26 and a current ratio of 2.00. Western Digital Co. has a one year low of $36.59 and a one year high of $78.19. The stock has a 50 day moving average of $59.92 and a 200 day moving average of $66.52.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Tuesday, August 3rd. The data storage provider reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.65. The firm had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.55 billion. Western Digital had a return on equity of 11.19% and a net margin of 4.85%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 earnings per share. Sell-side analysts predict that Western Digital Co. will post 9.73 EPS for the current fiscal year.

Several analysts have weighed in on WDC shares. Stifel Nicolaus reiterated a “buy” rating and issued a $115.00 price objective on shares of Western Digital in a research report on Monday, August 30th. Craig Hallum boosted their target price on Western Digital from $95.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, August 5th. Susquehanna Bancshares reduced their target price on Western Digital to $140.00 and set a “positive” rating on the stock in a research note on Thursday, August 5th. Summit Insights cut Western Digital from a “buy” rating to a “hold” rating in a research note on Thursday, August 5th. Finally, Benchmark initiated coverage on Western Digital in a research note on Tuesday, August 31st. They set a “buy” rating and a $92.00 target price on the stock. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $90.10.

In other Western Digital news, EVP Lori S. Sundberg sold 3,380 shares of the stock in a transaction dated Friday, August 6th. The stock was sold at an average price of $67.92, for a total value of $229,569.60. Following the transaction, the executive vice president now owns 62,795 shares of the company’s stock, valued at $4,265,036.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.12% of the company’s stock.

About Western Digital

Western Digital Corp. engages in the developing, manufacturing, marketing, and sale of data storage devices and solutions. It operates through the following product categories: Client Devices, Data Center Devices & Solutions, and Client Solutions. The Client Devices category includes mobile, desktop, gaming and digital video hard drives, solid state drives (SSDs), embedded products, and wafers.

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

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