Quantitative Systematic Strategies LLC Acquires 2,285 Shares of Western Digital Co. (NASDAQ:WDC)

Quantitative Systematic Strategies LLC lifted its holdings in Western Digital Co. (NASDAQ:WDC) by 44.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,465 shares of the data storage provider’s stock after buying an additional 2,285 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Western Digital were worth $273,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Valeo Financial Advisors LLC increased its holdings in shares of Western Digital by 2,219.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 603 shares of the data storage provider’s stock worth $27,000 after buying an additional 577 shares during the last quarter. Kore Private Wealth LLC increased its holdings in shares of Western Digital by 4,250.0% in the 2nd quarter. Kore Private Wealth LLC now owns 609 shares of the data storage provider’s stock worth $26,000 after buying an additional 595 shares during the last quarter. Flagship Harbor Advisors LLC increased its holdings in shares of Western Digital by 177.0% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 615 shares of the data storage provider’s stock worth $27,000 after buying an additional 393 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new stake in shares of Western Digital in the 3rd quarter worth about $26,000. Finally, CX Institutional grew its holdings in Western Digital by 338.2% during the 3rd quarter. CX Institutional now owns 745 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 575 shares during the last quarter. Hedge funds and other institutional investors own 78.49% of the company’s stock.

Shares of WDC opened at $42.42 on Friday. The company has a 50 day moving average price of $39.32 and a 200-day moving average price of $40.46. Western Digital Co. has a fifty-two week low of $27.40 and a fifty-two week high of $72.00. The stock has a market capitalization of $12.91 billion, a PE ratio of -49.91 and a beta of 1.49. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.36 and a current ratio of 2.05.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Wednesday, October 28th. The data storage provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.31. Western Digital had a negative net margin of 1.49% and a positive return on equity of 6.72%. Equities research analysts forecast that Western Digital Co. will post 1.69 EPS for the current year.

WDC has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Western Digital from a “strong sell” rating to a “hold” rating and set a $38.00 price target on the stock in a report on Friday, October 9th. 140166 reiterated a “buy” rating and set a $90.00 price target on shares of Western Digital in a report on Wednesday, August 5th. Benchmark reiterated a “buy” rating and set a $56.00 price target on shares of Western Digital in a report on Tuesday, October 27th. Stifel Nicolaus cut their price target on shares of Western Digital from $64.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Finally, Morgan Stanley cut their price target on shares of Western Digital from $63.00 to $58.50 and set an “overweight” rating on the stock in a report on Thursday, August 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $61.71.

Western Digital Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions. 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; flash-based memory wafers; and embedded storage solutions and flash products.

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Institutional Ownership by Quarter for Western Digital (NASDAQ:WDC)

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