Toronto Dominion Bank cut its holdings in shares of Western Digital Co. (NASDAQ:WDC - Free Report) by 30.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,639 shares of the data storage provider's stock after selling 53,866 shares during the quarter. Toronto Dominion Bank's holdings in Western Digital were worth $8,238,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of WDC. Neo Ivy Capital Management purchased a new position in shares of Western Digital during the 3rd quarter worth $720,000. Geode Capital Management LLC raised its stake in Western Digital by 1.0% during the third quarter. Geode Capital Management LLC now owns 7,921,608 shares of the data storage provider's stock worth $539,355,000 after purchasing an additional 76,781 shares during the period. Aequim Alternative Investments LP boosted its holdings in Western Digital by 142.2% in the 3rd quarter. Aequim Alternative Investments LP now owns 371,000 shares of the data storage provider's stock valued at $25,336,000 after purchasing an additional 217,800 shares during the last quarter. Sender Co & Partners Inc. purchased a new stake in shares of Western Digital in the 3rd quarter valued at approximately $1,397,000. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of Western Digital by 6.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 101,410 shares of the data storage provider's stock worth $6,925,000 after buying an additional 5,986 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company's stock.
NASDAQ:WDC opened at $65.12 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.47. Western Digital Co. has a 1 year low of $48.96 and a 1 year high of $81.55. The stock has a market cap of $22.51 billion, a P/E ratio of 38.31 and a beta of 1.42. The stock has a 50-day simple moving average of $67.67 and a 200-day simple moving average of $68.80.
Western Digital (NASDAQ:WDC - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The data storage provider reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.55 by $0.23. The company had revenue of $4.10 billion for the quarter, compared to analysts' expectations of $4.12 billion. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The firm's revenue for the quarter was up 48.9% on a year-over-year basis. During the same quarter last year, the company earned ($1.97) earnings per share. As a group, analysts anticipate that Western Digital Co. will post 6.56 earnings per share for the current fiscal year.
In related news, SVP Gene M. Zamiska sold 1,993 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $69.94, for a total transaction of $139,390.42. Following the completion of the sale, the senior vice president now owns 30,608 shares in the company, valued at $2,140,723.52. This represents a 6.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Goeckeler sold 75,000 shares of Western Digital stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $70.32, for a total transaction of $5,274,000.00. Following the completion of the transaction, the chief executive officer now owns 896,630 shares in the company, valued at approximately $63,051,021.60. This represents a 7.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 184,107 shares of company stock worth $13,042,381 over the last 90 days. Corporate insiders own 0.30% of the company's stock.
Several research analysts recently weighed in on the company. UBS Group lowered their price objective on Western Digital from $74.00 to $72.00 and set a "neutral" rating for the company in a research report on Thursday, October 24th. Citigroup reduced their price objective on shares of Western Digital from $87.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday, December 3rd. Benchmark reaffirmed a "buy" rating and set a $92.00 target price on shares of Western Digital in a research note on Friday, October 25th. TD Cowen reduced their price target 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. Finally, Wedbush reaffirmed an "outperform" rating and set a $95.00 price objective on shares of Western Digital in a research report on Friday, November 29th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Western Digital has an average rating of "Moderate Buy" and an average target price of $87.71.
Get Our Latest Report on WDC
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.
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