Vestmark Advisory Solutions Inc. Has $411,000 Stock Holdings in Western Digital Co. (NASDAQ:WDC)

Posted by Defense World Staff on Aug 18th, 2023

Vestmark Advisory Solutions Inc. lessened its holdings in shares of Western Digital Co. (NASDAQ:WDC – Free Report) by 8.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 10,907 shares of the data storage provider’s stock after selling 1,038 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Western Digital were worth $411,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of WDC. Massmutual Trust Co. FSB ADV grew its holdings in Western Digital by 75.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 661 shares of the data storage provider’s stock worth $25,000 after acquiring an additional 284 shares during the period. Mizuho Securities Co. Ltd. acquired a new stake in Western Digital during the 1st quarter worth $27,000. CI Investments Inc. grew its holdings in Western Digital by 114.4% during the 4th quarter. CI Investments Inc. now owns 879 shares of the data storage provider’s stock worth $28,000 after acquiring an additional 469 shares during the period. Global Retirement Partners LLC boosted its position in shares of Western Digital by 66.7% during the first quarter. Global Retirement Partners LLC now owns 1,072 shares of the data storage provider’s stock worth $35,000 after purchasing an additional 429 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of Western Digital by 199.3% during the fourth quarter. Signaturefd LLC now owns 1,218 shares of the data storage provider’s stock worth $38,000 after purchasing an additional 811 shares in the last quarter. Institutional investors and hedge funds own 83.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on WDC shares. Mizuho reduced their price target on shares of Western Digital from $50.00 to $45.00 in a research report on Tuesday, May 9th. Wedbush reissued an “outperform” rating and set a $60.00 price target on shares of Western Digital in a research report on Tuesday, August 1st. TheStreet raised shares of Western Digital from a “d+” rating to a “c-” rating in a research report on Thursday, August 3rd. Raymond James lifted their price target on shares of Western Digital from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $52.00 price objective on shares of Western Digital in a research report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Western Digital presently has a consensus rating of “Hold” and an average target price of $43.39.

View Our Latest Research Report on Western Digital

Western Digital Price Performance

Shares of WDC stock opened at $40.29 on Friday. The company has a current ratio of 1.45, a quick ratio of 0.77 and a debt-to-equity ratio of 0.54. Western Digital Co. has a 1 year low of $29.73 and a 1 year high of $49.23. The firm’s fifty day moving average price is $39.90 and its two-hundred day moving average price is $38.36.

Western Digital (NASDAQ:WDC – Get Free Report) last released its quarterly earnings data on Monday, July 31st. The data storage provider reported ($1.98) earnings per share for the quarter, topping the consensus estimate of ($2.30) by $0.32. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.53 billion. Western Digital had a negative net margin of 13.85% and a negative return on equity of 11.96%. Western Digital’s revenue for the quarter was down 41.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.54 EPS. As a group, analysts expect that Western Digital Co. will post -5.38 EPS for the current year.

About Western Digital

(Free Report)

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 computing devices, such as desktop and notebook personal computers (PCs), smart video systems, gaming consoles, and set top boxes; 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; and flash-based memory wafers.