Brighton Jones LLC Has $784,000 Stock Position in Western Digital Corporation $WDC

Brighton Jones LLC grew its position in shares of Western Digital Corporation (NASDAQ:WDC) by 46.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,256 shares of the data storage provider’s stock after acquiring an additional 3,882 shares during the quarter. Brighton Jones LLC’s holdings in Western Digital were worth $784,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of WDC. Alyeska Investment Group L.P. boosted its position in Western Digital by 130.0% during the 1st quarter. Alyeska Investment Group L.P. now owns 5,029,359 shares of the data storage provider’s stock worth $203,337,000 after acquiring an additional 2,842,822 shares during the last quarter. Deutsche Bank AG boosted its position in Western Digital by 107.1% during the 1st quarter. Deutsche Bank AG now owns 3,369,331 shares of the data storage provider’s stock worth $136,222,000 after acquiring an additional 1,742,481 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Western Digital during the 1st quarter worth approximately $50,897,000. Westfield Capital Management Co. LP bought a new stake in shares of Western Digital during the 1st quarter worth approximately $35,406,000. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Western Digital during the 1st quarter worth approximately $22,849,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WDC. Mizuho upped their price objective on Western Digital from $120.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. The Goldman Sachs Group upped their price objective on Western Digital from $78.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 8th. Citigroup upped their price objective on Western Digital from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Wedbush upped their price objective on Western Digital from $90.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Finally, Bank of America upped their price objective on Western Digital from $141.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $109.84.

Insider Transactions at Western Digital

In other Western Digital news, insider Vidyadhara K. Gubbi sold 11,343 shares of the company’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $90.29, for a total value of $1,024,159.47. Following the transaction, the insider directly owned 151,596 shares of the company’s stock, valued at $13,687,602.84. This represents a 6.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Gene M. Zamiska sold 3,160 shares of the company’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $75.68, for a total value of $239,148.80. Following the completion of the transaction, the senior vice president directly owned 31,560 shares in the company, valued at approximately $2,388,460.80. This represents a 9.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 49,730 shares of company stock valued at $3,921,594. Corporate insiders own 0.18% of the company’s stock.

Western Digital Stock Down 1.4%

WDC opened at $124.92 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. The stock’s fifty day simple moving average is $106.15 and its 200 day simple moving average is $74.56. Western Digital Corporation has a 1-year low of $28.83 and a 1-year high of $137.40. The stock has a market cap of $42.82 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 1.03 and a beta of 1.77.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Monday, April 7th. The data storage provider reported $1.78 EPS for the quarter. Western Digital had a return on equity of 24.93% and a net margin of 14.13%.The firm had revenue of $4.10 billion for the quarter. As a group, research analysts expect that Western Digital Corporation will post 4.89 earnings per share for the current year.

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.