Barry Investment Advisors LLC Acquires 709 Shares of Western Digital Corp (NASDAQ:WDC)

Barry Investment Advisors LLC grew its holdings in Western Digital Corp (NASDAQ:WDC) by 3.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 21,583 shares of the data storage provider’s stock after buying an additional 709 shares during the quarter. Western Digital comprises approximately 0.5% of Barry Investment Advisors LLC’s holdings, making the stock its 29th largest holding. Barry Investment Advisors LLC’s holdings in Western Digital were worth $1,287,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Western Digital by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 32,104,981 shares of the data storage provider’s stock worth $1,526,591,000 after acquiring an additional 532,800 shares in the last quarter. Invesco Ltd. raised its stake in shares of Western Digital by 36.5% during the 2nd quarter. Invesco Ltd. now owns 6,340,189 shares of the data storage provider’s stock worth $301,475,000 after acquiring an additional 1,696,513 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Western Digital by 8.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,637,268 shares of the data storage provider’s stock worth $220,502,000 after acquiring an additional 350,546 shares in the last quarter. Lyrical Asset Management LP raised its stake in shares of Western Digital by 3.2% during the 2nd quarter. Lyrical Asset Management LP now owns 4,548,508 shares of the data storage provider’s stock worth $216,282,000 after acquiring an additional 141,393 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Western Digital by 9.6% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 3,912,366 shares of the data storage provider’s stock worth $186,033,000 after acquiring an additional 343,336 shares in the last quarter. Institutional investors and hedge funds own 84.60% of the company’s stock.

Several research firms recently commented on WDC. KeyCorp reiterated a “hold” rating on shares of Western Digital in a research note on Tuesday, September 10th. Wells Fargo & Co boosted their price objective on shares of Western Digital from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Cascend Securities boosted their price objective on shares of Western Digital from $68.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Cowen reissued a “market perform” rating and set a $45.00 target price (up previously from $40.00) on shares of Western Digital in a research report on Thursday, August 1st. Finally, Loop Capital raised shares of Western Digital from a “hold” rating to a “buy” rating and boosted their target price for the stock from $50.00 to $75.00 in a research report on Monday, October 14th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Western Digital currently has an average rating of “Hold” and an average target price of $61.66.

NASDAQ:WDC opened at $52.02 on Friday. The company has a market cap of $16.03 billion, a PE ratio of 13.65, a P/E/G ratio of 16.92 and a beta of 1.82. Western Digital Corp has a twelve month low of $33.83 and a twelve month high of $65.31. The company has a current ratio of 1.98, a quick ratio of 1.22 and a debt-to-equity ratio of 1.04. The company’s 50 day moving average is $58.37 and its two-hundred day moving average is $52.07.

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Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Wednesday, October 30th. The data storage provider reported $0.34 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.41. The business had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.92 billion. Western Digital had a negative net margin of 9.89% and a positive return on equity of 3.28%. The business’s revenue for the quarter was down 19.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.04 EPS. As a group, analysts expect that Western Digital Corp will post 1.6 EPS for the current fiscal year.

In other news, EVP Michael Charles Ray sold 87,053 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $59.96, for a total value of $5,219,697.88. Following the sale, the executive vice president now directly owns 112,480 shares of the company’s stock, valued at approximately $6,744,300.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lori S. Sundberg sold 3,442 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $56.82, for a total transaction of $195,574.44. Following the completion of the sale, the executive vice president now directly owns 29,312 shares in the company, valued at $1,665,507.84. The disclosure for this sale can be found here. Insiders sold a total of 100,760 shares of company stock worth $5,981,528 over the last ninety days. Insiders own 0.44% of the company’s stock.

Western Digital Company Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance 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, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.

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Want to see what other hedge funds are holding WDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Digital Corp (NASDAQ:WDC).

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

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