Allspring Global Investments Holdings LLC Has $836,000 Stock Position in Western Digital Co. (NASDAQ:WDC)

Allspring Global Investments Holdings LLC reduced its holdings in shares of Western Digital Co. (NASDAQ:WDC) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,967 shares of the data storage provider’s stock after selling 415 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Western Digital were worth $836,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Parkside Financial Bank & Trust lifted its position in shares of Western Digital by 79.1% during the 3rd quarter. Parkside Financial Bank & Trust now owns 747 shares of the data storage provider’s stock worth $34,000 after buying an additional 330 shares during the last quarter. Natixis Advisors L.P. lifted its position in shares of Western Digital by 0.9% during the 3rd quarter. Natixis Advisors L.P. now owns 37,156 shares of the data storage provider’s stock worth $1,695,000 after buying an additional 338 shares during the last quarter. Wahed Invest LLC raised its position in Western Digital by 7.3% in the third quarter. Wahed Invest LLC now owns 5,010 shares of the data storage provider’s stock valued at $229,000 after purchasing an additional 340 shares during the last quarter. Avior Wealth Management LLC raised its position in Western Digital by 20.8% in the third quarter. Avior Wealth Management LLC now owns 2,319 shares of the data storage provider’s stock valued at $106,000 after purchasing an additional 400 shares during the last quarter. Finally, Korea Investment CORP raised its position in Western Digital by 0.8% in the third quarter. Korea Investment CORP now owns 63,319 shares of the data storage provider’s stock valued at $2,889,000 after purchasing an additional 528 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 443 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $75.00, for a total value of $33,225.00. Following the completion of the sale, the senior vice president now owns 30,958 shares of the company’s stock, valued at $2,321,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Kimberly Alexy sold 2,648 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.95, for a total value of $185,227.60. Following the transaction, the director now owns 20,509 shares in the company, valued at $1,434,604.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Gene M. Zamiska sold 443 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $75.00, for a total value of $33,225.00. Following the completion of the transaction, the senior vice president now owns 30,958 shares in the company, valued at approximately $2,321,850. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Western Digital Trading Down 0.5 %

NASDAQ WDC opened at $69.55 on Thursday. The business has a 50 day simple moving average of $64.46 and a 200 day simple moving average of $54.68. Western Digital Co. has a one year low of $31.97 and a one year high of $76.92. The stock has a market capitalization of $22.66 billion, a P/E ratio of -9.75 and a beta of 1.57. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.67 and a quick ratio of 0.98.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Monday, January 29th. The data storage provider reported ($0.69) EPS for the quarter, beating analysts’ consensus estimates of ($1.30) by $0.61. Western Digital had a negative return on equity of 19.45% and a negative net margin of 19.90%. The firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same quarter last year, the firm posted ($0.69) earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. Research analysts expect that Western Digital Co. will post -2.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WDC has been the subject of several research reports. Deutsche Bank Aktiengesellschaft upgraded Western Digital from a “hold” rating to a “buy” rating and increased their target price for the company from $45.00 to $65.00 in a research report on Tuesday, January 16th. Mizuho increased their target price on Western Digital from $66.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Barclays increased their target price on Western Digital from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday. Rosenblatt Securities upgraded Western Digital from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th. Finally, Evercore ISI assumed coverage on Western Digital in a research report on Wednesday, March 27th. They set an “outperform” rating and a $80.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $73.72.

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.