SteelPeak Wealth LLC Has $409,000 Stock Position in Western Digital Co. (NASDAQ:WDC)

SteelPeak Wealth LLC lessened its position in shares of Western Digital Co. (NASDAQ:WDC) by 59.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,860 shares of the data storage provider’s stock after selling 9,900 shares during the quarter. SteelPeak Wealth LLC’s holdings in Western Digital were worth $409,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in Western Digital by 278.9% during the fourth 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. Eastern Bank bought a new position in shares of Western Digital during the 3rd quarter worth approximately $27,000. True Wealth Design LLC increased its stake in shares of Western Digital by 2,184.2% in the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock valued at $30,000 after acquiring an additional 415 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Western Digital during the 3rd quarter valued at $41,000. Finally, Kathleen S. Wright Associates Inc. bought a new position in Western Digital during the third quarter worth $42,000. Institutional investors own 92.51% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WDC. Benchmark lowered shares of Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price objective on the stock. in a report on Thursday, December 19th. Wedbush reiterated an “outperform” rating and issued a $95.00 price target on shares of Western Digital in a report on Thursday. Citigroup decreased their price objective on Western Digital from $82.00 to $80.00 and set a “buy” rating for the company in a report on Thursday. BNP Paribas cut their target price on Western Digital from $95.00 to $90.00 in a report on Thursday, October 24th. Finally, UBS Group decreased their price target on shares of Western Digital from $78.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Western Digital presently has a consensus rating of “Moderate Buy” and an average target price of $83.68.

Insider Activity at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 658 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total transaction of $46,053.42. Following the sale, the senior vice president now directly owns 28,863 shares of the company’s stock, valued at $2,020,121.37. This represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 1,347 shares of company stock worth $93,027. Insiders own 0.30% of the company’s stock.

Western Digital Stock Up 4.7 %

Shares of NASDAQ:WDC opened at $65.78 on Friday. The company has a market capitalization of $22.74 billion, a PE ratio of 38.69 and a beta of 1.43. Western Digital Co. has a 1 year low of $52.77 and a 1 year high of $81.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.91. The business has a fifty day moving average price of $65.70 and a two-hundred day moving average price of $65.62.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a return on equity of 8.57% and a net margin of 4.81%. Analysts forecast that Western Digital Co. will post 5.54 earnings per share for the current 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.