Greenwich Wealth Management LLC Reduces Stock Holdings in Western Digital Co. (NASDAQ:WDC)

Greenwich Wealth Management LLC reduced its position in Western Digital Co. (NASDAQ:WDC) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,575 shares of the data storage provider’s stock after selling 847 shares during the quarter. Greenwich Wealth Management LLC’s holdings in Western Digital were worth $2,073,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Western Digital by 9.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,595,297 shares of the data storage provider’s stock valued at $851,166,000 after acquiring an additional 1,931,325 shares during the period. Nomura Holdings Inc. lifted its holdings in shares of Western Digital by 7.0% during the third quarter. Nomura Holdings Inc. now owns 13,361,999 shares of the data storage provider’s stock worth $609,708,000 after purchasing an additional 870,971 shares during the period. DNB Asset Management AS lifted its holdings in shares of Western Digital by 8.6% during the fourth quarter. DNB Asset Management AS now owns 5,587,698 shares of the data storage provider’s stock worth $292,628,000 after purchasing an additional 443,903 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Western Digital by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,501,843 shares of the data storage provider’s stock worth $173,893,000 after purchasing an additional 80,373 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Western Digital by 2.9% during the third quarter. Northern Trust Corp now owns 3,268,764 shares of the data storage provider’s stock worth $149,154,000 after purchasing an additional 92,009 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on WDC shares. Mizuho increased their price target on Western Digital from $66.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Morgan Stanley increased their price target on Western Digital from $73.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday. Susquehanna increased their price target on Western Digital from $68.00 to $83.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Cantor Fitzgerald increased their price target on Western Digital from $70.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, The Goldman Sachs Group increased their price target on Western Digital from $58.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $73.17.

Insider Buying and Selling at Western Digital

In other Western Digital news, Director Kimberly Alexy sold 2,648 shares of Western Digital stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.95, for a total value of $185,227.60. Following the completion of the sale, the director now owns 20,509 shares in the company, valued at approximately $1,434,604.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Western Digital news, Director Kimberly Alexy sold 2,648 shares of Western Digital stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.95, for a total value of $185,227.60. Following the completion of the sale, the director now owns 20,509 shares in the company, valued at approximately $1,434,604.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Gene M. Zamiska sold 443 shares of Western Digital stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $75.00, for a total value of $33,225.00. Following the completion of the transaction, the senior vice president now directly owns 30,958 shares in the company, valued at $2,321,850. The disclosure for this sale can be found here. 0.28% of the stock is owned by company insiders.

Western Digital Price Performance

Western Digital stock traded down $2.27 during midday trading on Friday, reaching $66.05. 7,030,034 shares of the company were exchanged, compared to its average volume of 7,058,367. The company has a market capitalization of $21.52 billion, a price-to-earnings ratio of -9.26 and a beta of 1.57. The firm’s 50-day simple moving average is $63.71 and its 200-day simple moving average is $54.26. Western Digital Co. has a 1 year low of $31.97 and a 1 year high of $76.92. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.67.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Monday, January 29th. The data storage provider reported ($0.69) EPS for the quarter, topping analysts’ consensus estimates of ($1.30) by $0.61. The firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3 billion. Western Digital had a negative return on equity of 19.45% and a negative net margin of 19.90%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.69) EPS. On average, analysts anticipate that Western Digital Co. will post -2.21 EPS for the current 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.