Alerus Financial NA Sells 4,493 Shares of Western Digital Co. (NASDAQ:WDC)

Alerus Financial NA reduced its holdings in Western Digital Co. (NASDAQ:WDC) by 5.7% in the 4th quarter, Holdings Channel reports. The fund owned 74,582 shares of the data storage provider’s stock after selling 4,493 shares during the quarter. Alerus Financial NA’s holdings in Western Digital were worth $4,447,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Advisors Asset Management Inc. increased its position in shares of Western Digital by 32.0% in the third quarter. Advisors Asset Management Inc. now owns 1,418 shares of the data storage provider’s stock worth $97,000 after purchasing an additional 344 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Western Digital by 10.2% in the third quarter. The Manufacturers Life Insurance Company now owns 744,938 shares of the data storage provider’s stock worth $50,872,000 after purchasing an additional 69,063 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in Western Digital by 19.1% in the third quarter. D.A. Davidson & CO. now owns 6,235 shares of the data storage provider’s stock valued at $426,000 after acquiring an additional 1,000 shares during the last quarter. Brooklyn Investment Group acquired a new position in Western Digital in the third quarter valued at approximately $45,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Western Digital by 556.8% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 262,900 shares of the data storage provider’s stock worth $17,953,000 after buying an additional 222,872 shares in the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

Analyst Upgrades and Downgrades

WDC has been the subject of several research reports. Bank of America reduced their price target on shares of Western Digital from $89.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. The Goldman Sachs Group raised 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. Barclays lowered their price target on Western Digital from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. StockNews.com lowered Western Digital from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Rosenblatt Securities lowered their price target on Western Digital from $115.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Seven equities research 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $80.21.

Western Digital Stock Performance

Shares of Western Digital stock opened at $41.91 on Friday. The firm has a market capitalization of $14.58 billion, a P/E ratio of 9.98 and a beta of 1.42. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. Western Digital Co. has a 52 week low of $39.42 and a 52 week high of $81.55. The firm’s 50 day moving average is $56.18 and its two-hundred day moving average is $62.57.

Western Digital (NASDAQ:WDC) last posted its earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a net margin of 9.95% and a return on equity of 15.68%. Research analysts forecast that Western Digital Co. will post 4.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $41.36, for a total value of $68,616.24. Following the transaction, the senior vice president now directly owns 43,776 shares of the company’s stock, valued at approximately $1,810,575.36. The trade was a 3.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.30% of the stock is currently owned by insiders.

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.