Proficio Capital Partners LLC Takes Position in Western Digital Co. (NASDAQ:WDC)

Proficio Capital Partners LLC bought a new stake in Western Digital Co. (NASDAQ:WDC) in the 4th quarter, HoldingsChannel.com reports. The firm bought 59,391 shares of the data storage provider’s stock, valued at approximately $3,541,000.

Several other large investors have also modified their holdings of the stock. Versant Capital Management Inc boosted its stake in Western Digital by 278.9% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock worth $25,000 after purchasing an additional 304 shares during the period. Sierra Ocean LLC acquired a new stake in Western Digital during the 4th quarter worth $29,000. True Wealth Design LLC boosted its stake in Western Digital by 2,184.2% during the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock worth $30,000 after purchasing an additional 415 shares during the period. Comprehensive Financial Planning Inc. PA acquired a new stake in Western Digital during the 4th quarter worth $30,000. Finally, Capital Performance Advisors LLP acquired a new stake in Western Digital during the 3rd quarter worth $41,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on WDC shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $95.00 price target on shares of Western Digital in a research note on Tuesday, February 18th. Robert W. Baird decreased their price target on shares of Western Digital from $100.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. UBS Group increased their price target on shares of Western Digital from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Wells Fargo & Company cut their price objective on shares of Western Digital from $85.00 to $75.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. Finally, Citigroup upped their price objective on shares of Western Digital from $60.45 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.05.

Western Digital Price Performance

Shares of NASDAQ WDC opened at $44.63 on Wednesday. The stock has a market cap of $15.52 billion, a price-to-earnings ratio of 10.63 and a beta of 1.44. Western Digital Co. has a 52 week low of $39.58 and a 52 week high of $61.16. The company’s 50-day moving average price is $62.79 and its 200 day moving average price is $65.01. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.36). Western Digital had a net margin of 9.95% and a return on equity of 15.68%. As a group, research analysts forecast that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.

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.