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

Brighton Jones LLC lifted its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 46.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,256 shares of the data storage provider’s stock after purchasing an additional 3,882 shares during the quarter. Brighton Jones LLC’s holdings in Western Digital were worth $784,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of WDC. Private Wealth Management Group LLC grew its holdings in shares of Western Digital by 102.5% during the 2nd quarter. Private Wealth Management Group LLC now owns 399 shares of the data storage provider’s stock worth $26,000 after purchasing an additional 202 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in Western Digital in the first quarter valued at about $29,000. CNB Bank acquired a new stake in Western Digital in the second quarter valued at about $37,000. Allworth Financial LP boosted its stake in Western Digital by 34.1% in the first quarter. Allworth Financial LP now owns 955 shares of the data storage provider’s stock valued at $38,000 after buying an additional 243 shares in the last quarter. Finally, MorganRosel Wealth Management LLC acquired a new stake in Western Digital in the first quarter valued at about $40,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Vidyadhara K. Gubbi sold 11,343 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $90.29, for a total transaction of $1,024,159.47. Following the completion of the transaction, the insider directly owned 151,596 shares in the company, valued at $13,687,602.84. This trade represents a 6.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cynthia L. Tregillis sold 14,067 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $74.78, for a total value of $1,051,930.26. Following the sale, the insider directly owned 135,351 shares of the company’s stock, valued at $10,121,547.78. This represents a 9.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 49,730 shares of company stock valued at $3,921,594 over the last three months. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

WDC has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on Western Digital from $95.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, October 13th. Bank of America raised their price objective on Western Digital from $141.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Sanford C. Bernstein raised Western Digital to a “hold” rating in a research note on Tuesday, September 16th. Susquehanna raised their price objective on Western Digital from $40.00 to $62.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Finally, Barclays increased their target price on Western Digital from $80.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Western Digital currently has a consensus rating of “Moderate Buy” and an average price target of $109.84.

Western Digital Price Performance

Shares of WDC opened at $124.92 on Wednesday. Western Digital Corporation has a 1 year low of $28.83 and a 1 year high of $137.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.08 and a quick ratio of 0.84. The company has a market capitalization of $42.82 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 1.03 and a beta of 1.77. The business has a 50-day moving average of $106.15 and a 200-day moving average of $74.56.

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

Western Digital Company Profile

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.