Steward Partners Investment Advisory LLC Sells 6,054 Shares of Western Digital Co. (NASDAQ:WDC)

Steward Partners Investment Advisory LLC decreased its holdings in Western Digital Co. (NASDAQ:WDC – Get Rating) by 77.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,756 shares of the data storage provider’s stock after selling 6,054 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Western Digital were worth $87,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its stake in Western Digital by 1.3% in the fourth quarter. International Assets Investment Management LLC now owns 28,859 shares of the data storage provider’s stock worth $86,000 after purchasing an additional 381 shares during the last quarter. Van ECK Associates Corp lifted its stake in Western Digital by 107.1% in the fourth quarter. Van ECK Associates Corp now owns 6,456 shares of the data storage provider’s stock worth $421,000 after purchasing an additional 3,339 shares during the last quarter. National Asset Management Inc. lifted its stake in Western Digital by 19.9% in the fourth quarter. National Asset Management Inc. now owns 6,387 shares of the data storage provider’s stock worth $417,000 after purchasing an additional 1,060 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Western Digital in the fourth quarter worth about $3,716,000. Finally, Yousif Capital Management LLC bought a new stake in Western Digital in the fourth quarter worth about $3,503,000. Institutional investors own 81.11% of the company’s stock.

Western Digital Price Performance

NASDAQ WDC opened at $48.47 on Wednesday. The firm’s fifty day simple moving average is $50.19 and its two-hundred day simple moving average is $51.75. The company has a current ratio of 2.09, a quick ratio of 1.25 and a debt-to-equity ratio of 0.59. Western Digital Co. has a 12-month low of $41.63 and a 12-month high of $69.99. The firm has a market capitalization of $15.18 billion, a P/E ratio of 8.40 and a beta of 1.49.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Western Digital from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, July 14th. Wedbush reaffirmed an “outperform” rating and set a $70.00 price target on shares of Western Digital in a research note on Monday, April 25th. The Goldman Sachs Group decreased their price target on shares of Western Digital from $62.00 to $50.00 in a research note on Friday, July 15th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Western Digital from $72.00 to $64.00 in a research note on Friday, July 15th. Finally, Susquehanna lifted their price target on shares of Western Digital from $50.00 to $66.00 in a research note on Wednesday, May 4th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Western Digital Company Profile

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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.