Allstate Corp Makes New $611,000 Investment in Western Digital Co. (NASDAQ:WDC)

Allstate Corp acquired a new stake in Western Digital Co. (NASDAQ:WDC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 10,241 shares of the data storage provider's stock, valued at approximately $611,000.

Other large investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Western Digital by 32.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,131 shares of the data storage provider's stock worth $2,691,000 after buying an additional 11,013 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in Western Digital by 6.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 841,700 shares of the data storage provider's stock worth $50,191,000 after acquiring an additional 50,188 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Western Digital by 4.0% during the fourth quarter. Principal Financial Group Inc. now owns 390,826 shares of the data storage provider's stock valued at $23,305,000 after acquiring an additional 15,189 shares during the period. Ieq Capital LLC increased its stake in shares of Western Digital by 83.9% in the fourth quarter. Ieq Capital LLC now owns 31,634 shares of the data storage provider's stock worth $1,886,000 after purchasing an additional 14,432 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in shares of Western Digital by 53.3% during the 4th quarter. Handelsbanken Fonder AB now owns 99,444 shares of the data storage provider's stock worth $5,930,000 after purchasing an additional 34,579 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at Western Digital

In related news, SVP Gene M. Zamiska sold 1,659 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $41.36, for a total value of $68,616.24. Following the sale, the senior vice president now directly owns 43,776 shares in the company, valued at $1,810,575.36. This trade represents a 3.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.30% of the company's stock.

Western Digital Trading Down 18.3 %

Shares of NASDAQ WDC traded down $7.63 during midday trading on Thursday, hitting $34.15. The stock had a trading volume of 21,300,454 shares, compared to its average volume of 6,120,039. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26. Western Digital Co. has a fifty-two week low of $34.01 and a fifty-two week high of $81.55. The firm has a market cap of $11.88 billion, a P/E ratio of 8.13 and a beta of 1.42. The company's 50-day simple moving average is $53.44 and its 200 day simple moving average is $61.74.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. Research analysts anticipate that Western Digital Co. will post 4.89 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WDC shares. Bank of America reduced their price objective on Western Digital from $89.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. Wells Fargo & Company decreased their price target on shares of Western Digital from $85.00 to $75.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 25th. Rosenblatt Securities cut their price objective on shares of Western Digital from $115.00 to $95.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Wedbush reissued an "outperform" rating and set a $95.00 target price on shares of Western Digital in a research report on Monday, February 10th. Finally, Mizuho reduced their price objective on Western Digital from $90.00 to $82.00 and set an "outperform" rating for the company in a research report on Friday, January 3rd. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Western Digital currently has a consensus rating of "Moderate Buy" and an average price target of $80.21.

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.