Empower Advisory Group LLC Buys 362 Shares of Western Digital Co. (NASDAQ:WDC)

Empower Advisory Group LLC raised its stake in shares of Western Digital Co. (NASDAQ:WDC) by 5.0% in the 4th quarter, Holdings Channel reports. The firm owned 7,580 shares of the data storage provider’s stock after purchasing an additional 362 shares during the quarter. Empower Advisory Group LLC’s holdings in Western Digital were worth $452,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of WDC. Creative Planning raised its position in Western Digital by 4.5% during the 3rd quarter. Creative Planning now owns 42,408 shares of the data storage provider’s stock worth $2,896,000 after purchasing an additional 1,835 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in Western Digital by 8.4% during the 3rd quarter. Bleakley Financial Group LLC now owns 3,825 shares of the data storage provider’s stock worth $261,000 after acquiring an additional 296 shares during the period. Blue Trust Inc. grew its holdings in Western Digital by 51.2% during the 3rd quarter. Blue Trust Inc. now owns 818 shares of the data storage provider’s stock worth $62,000 after acquiring an additional 277 shares during the period. Raymond James & Associates grew its holdings in Western Digital by 59.2% during the 3rd quarter. Raymond James & Associates now owns 54,078 shares of the data storage provider’s stock worth $3,693,000 after acquiring an additional 20,117 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Western Digital by 14.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 18,268 shares of the data storage provider’s stock worth $1,248,000 after acquiring an additional 2,306 shares during the period. 92.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WDC has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on Western Digital in a report on Tuesday. They set a “hold” rating for the company. The Goldman Sachs Group increased their price target on Western Digital from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Mizuho reduced their target price on Western Digital from $90.00 to $82.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. BNP Paribas reduced their target price on Western Digital from $95.00 to $90.00 in a research note on Thursday, October 24th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $95.00 target price on shares of Western Digital in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Western Digital has a consensus rating of “Moderate Buy” and a consensus price target of $84.42.

Western Digital Price Performance

Western Digital stock opened at $71.50 on Thursday. Western Digital Co. has a 52 week low of $52.77 and a 52 week high of $81.55. The company’s 50 day moving average price is $64.60 and its two-hundred day moving average price is $65.41. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. The stock has a market cap of $24.87 billion, a P/E ratio of 17.02 and a beta of 1.44.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results 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%. On average, equities analysts predict that Western Digital Co. will post 4.89 earnings per share for the current year.

Insider Activity at Western Digital

In related news, SVP Gene M. Zamiska sold 658 shares of Western Digital stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total value of $46,053.42. Following the completion of the transaction, the senior vice president now directly owns 28,863 shares in the company, valued at approximately $2,020,121.37. The trade was a 2.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.30% of the stock is owned by company insiders.

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.