Dynamic Technology Lab Private Ltd Sells 4,480 Shares of Western Digital Co. (NASDAQ:WDC)

Dynamic Technology Lab Private Ltd reduced its holdings in Western Digital Co. (NASDAQ:WDC) by 23.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,402 shares of the data storage provider’s stock after selling 4,480 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Western Digital were worth $984,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. First Horizon Advisors Inc. increased its stake in shares of Western Digital by 5.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,929 shares of the data storage provider’s stock valued at $200,000 after acquiring an additional 149 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Western Digital by 1.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 15,962 shares of the data storage provider’s stock worth $1,209,000 after purchasing an additional 203 shares during the period. Massmutual Trust Co. FSB ADV boosted its position in shares of Western Digital by 15.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,527 shares of the data storage provider’s stock worth $116,000 after purchasing an additional 206 shares in the last quarter. Mather Group LLC. grew its holdings in shares of Western Digital by 10.7% in the 2nd quarter. Mather Group LLC. now owns 2,203 shares of the data storage provider’s stock valued at $167,000 after buying an additional 213 shares during the period. Finally, Hanseatic Management Services Inc. increased its position in shares of Western Digital by 2.3% in the 2nd quarter. Hanseatic Management Services Inc. now owns 10,344 shares of the data storage provider’s stock valued at $784,000 after buying an additional 236 shares in the last quarter. 92.51% of the stock is owned by institutional investors.

Western Digital Price Performance

NASDAQ:WDC opened at $71.50 on Thursday. The stock has a market capitalization of $24.72 billion, a PE ratio of 42.06 and a beta of 1.40. Western Digital Co. has a 1-year low of $46.42 and a 1-year high of $81.55. The firm has a fifty day simple moving average of $66.73 and a 200 day simple moving average of $69.07. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, October 24th. The data storage provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.23. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same period in the previous year, the business earned ($1.97) EPS. Western Digital’s revenue for the quarter was up 48.9% compared to the same quarter last year. On average, research analysts expect that Western Digital Co. will post 6.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WDC has been the topic of several recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $115.00 target price on shares of Western Digital in a report on Friday, October 25th. BNP Paribas decreased their price objective on Western Digital from $95.00 to $90.00 in a research report on Thursday, October 24th. Benchmark reissued a “buy” rating and set a $92.00 target price on shares of Western Digital in a research note on Friday, October 25th. Morgan Stanley lifted their price target on shares of Western Digital from $94.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group lowered their price objective on shares of Western Digital from $79.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Western Digital presently has an average rating of “Moderate Buy” and an average price target of $87.71.

Insider Activity

In other news, CEO David Goeckeler sold 75,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $70.32, for a total transaction of $5,274,000.00. Following the completion of the sale, the chief executive officer now owns 896,630 shares in the company, valued at approximately $63,051,021.60. This trade represents a 7.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert Soderbery sold 30,767 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $68.01, for a total transaction of $2,092,463.67. Following the completion of the transaction, the executive vice president now directly owns 135,398 shares in the company, valued at approximately $9,208,417.98. This represents a 18.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 185,963 shares of company stock valued at $13,154,039 over the last three months. 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.