Seelaus Asset Management LLC Invests $408,000 in Western Digital Co. (NASDAQ:WDC)

Seelaus Asset Management LLC bought a new position in shares of Western Digital Co. (NASDAQ:WDC) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 6,845 shares of the data storage provider’s stock, valued at approximately $408,000.

Other hedge funds have also made changes to their positions in the company. Aigen Investment Management LP boosted its position in Western Digital by 124.2% in the 3rd quarter. Aigen Investment Management LP now owns 21,412 shares of the data storage provider’s stock valued at $1,462,000 after buying an additional 11,860 shares during the period. Avala Global LP boosted its holdings in Western Digital by 49.0% in the third quarter. Avala Global LP now owns 1,147,700 shares of the data storage provider’s stock valued at $78,376,000 after purchasing an additional 377,500 shares during the period. Swedbank AB grew its stake in Western Digital by 19.7% during the 3rd quarter. Swedbank AB now owns 291,777 shares of the data storage provider’s stock worth $19,925,000 after purchasing an additional 47,965 shares in the last quarter. KBC Group NV increased its holdings in Western Digital by 11.2% during the 3rd quarter. KBC Group NV now owns 277,010 shares of the data storage provider’s stock worth $18,917,000 after purchasing an additional 27,849 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in Western Digital by 137.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 43,575 shares of the data storage provider’s stock worth $2,976,000 after purchasing an additional 25,262 shares during the period. Institutional investors and hedge funds own 92.51% of the company’s stock.

Western Digital Price Performance

Western Digital stock opened at $64.46 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26. The business has a 50 day simple moving average of $64.94 and a 200-day simple moving average of $65.19. Western Digital Co. has a 12 month low of $52.77 and a 12 month high of $81.55. The stock has a market capitalization of $22.42 billion, a PE ratio of 15.35 and a beta of 1.44.

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 analysts’ consensus estimates of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. Equities analysts predict that Western Digital Co. will post 4.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

WDC has been the subject of a number of analyst reports. Benchmark downgraded Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price objective for the company. in a research report on Thursday, December 19th. Wells Fargo & Company dropped their price objective on shares of Western Digital from $95.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Wedbush reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Western Digital in a research report on Thursday, January 30th. Robert W. Baird lowered their target price 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. Finally, Citigroup dropped their price target on shares of Western Digital from $82.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $84.21.

Insider Buying and Selling

In other Western Digital news, SVP Gene M. Zamiska sold 658 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total value of $46,053.42. Following the completion of the sale, the senior vice president now owns 28,863 shares of the company’s stock, valued at approximately $2,020,121.37. This trade represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 1,347 shares of company stock valued at $93,027 over the last ninety days. Corporate insiders own 0.30% of the company’s stock.

About Western Digital

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.