Wealth Enhancement Advisory Services LLC Has $993,000 Holdings in Western Digital Co. (NASDAQ:WDC)

Wealth Enhancement Advisory Services LLC grew its position in Western Digital Co. (NASDAQ:WDC) by 84.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,540 shares of the data storage provider’s stock after purchasing an additional 6,644 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Western Digital were worth $993,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Fairfield Financial Advisors LTD acquired a new position in shares of Western Digital during the 2nd quarter valued at about $29,000. Eastern Bank acquired a new position in shares of Western Digital during the 3rd quarter valued at about $27,000. Fidelis Capital Partners LLC acquired a new position in shares of Western Digital during the 1st quarter valued at about $30,000. 1620 Investment Advisors Inc. acquired a new position in shares of Western Digital during the 2nd quarter valued at about $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Western Digital during the 2nd quarter valued at about $34,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WDC. Evercore ISI reissued an “outperform” rating and set a $85.00 price objective on shares of Western Digital in a report on Thursday, August 15th. Barclays increased their target price on Western Digital from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Rosenblatt Securities restated a “buy” rating and set a $115.00 target price on shares of Western Digital in a research note on Friday, October 25th. Cantor Fitzgerald increased their target price 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, Morgan Stanley increased their target price on Western Digital from $94.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $87.71.

Insider Activity at Western Digital

In related news, EVP Robert Soderbery sold 30,767 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $68.01, for a total transaction of $2,092,463.67. Following the completion of the sale, the executive vice president now directly owns 135,398 shares of the company’s stock, valued at $9,208,417.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Gene M. Zamiska sold 2,900 shares of Western Digital stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $61.48, for a total value of $178,292.00. Following the completion of the sale, the senior vice president now directly owns 37,448 shares of the company’s stock, valued at approximately $2,302,303.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Soderbery sold 30,767 shares of Western Digital stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $68.01, for a total value of $2,092,463.67. Following the completion of the sale, the executive vice president now directly owns 135,398 shares of the company’s stock, valued at $9,208,417.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 188,561 shares of company stock valued at $13,309,042 in the last three months. Corporate insiders own 0.30% of the company’s stock.

Western Digital Trading Up 2.5 %

Shares of WDC opened at $66.83 on Wednesday. Western Digital Co. has a 1 year low of $41.78 and a 1 year high of $81.55. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49. The stock has a 50 day simple moving average of $65.74 and a 200-day simple moving average of $69.49. The stock has a market cap of $23.10 billion, a PE ratio of 39.19 and a beta of 1.40.

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

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.