Paradigm Asset Management Co. LLC acquired a new position in Western Digital Co. (NASDAQ:WDC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,500 shares of the data storage provider's stock, valued at approximately $984,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. raised its stake in Western Digital by 5.4% during the third quarter. First Horizon Advisors Inc. now owns 2,929 shares of the data storage provider's stock worth $200,000 after buying an additional 149 shares during the last quarter. Mather Group LLC. grew its stake in Western Digital by 7.0% during the fourth quarter. Mather Group LLC. now owns 2,416 shares of the data storage provider's stock worth $144,000 after purchasing an additional 159 shares during the period. Vontobel Holding Ltd. increased its holdings in Western Digital by 1.4% in the fourth quarter. Vontobel Holding Ltd. now owns 11,804 shares of the data storage provider's stock worth $704,000 after purchasing an additional 164 shares in the last quarter. Quarry LP boosted its holdings in shares of Western Digital by 22.6% during the 3rd quarter. Quarry LP now owns 932 shares of the data storage provider's stock worth $64,000 after buying an additional 172 shares in the last quarter. Finally, Inspire Investing LLC grew its position in shares of Western Digital by 4.3% during the 4th quarter. Inspire Investing LLC now owns 4,324 shares of the data storage provider's stock worth $258,000 after buying an additional 177 shares during the period. 92.51% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts recently issued reports on WDC shares. Mizuho cut their target price on shares of Western Digital from $90.00 to $82.00 and set an "outperform" rating on the stock in a research note on Friday, January 3rd. Bank of America reduced their target price on Western Digital from $89.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. The Goldman Sachs Group boosted their target price on Western Digital from $70.00 to $80.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Susquehanna cut their price target on Western Digital from $83.00 to $72.00 and set a "neutral" rating on the stock in a report on Thursday, January 30th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $95.00 price objective on shares of Western Digital in a research note on Tuesday, February 18th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $83.05.
Get Our Latest Analysis on WDC
Western Digital Stock Up 0.1 %
Shares of WDC traded up $0.05 during trading hours on Tuesday, reaching $49.07. 11,633,713 shares of the stock traded hands, compared to its average volume of 9,235,051. Western Digital Co. has a 52 week low of $39.58 and a 52 week high of $61.16. The company has a market cap of $17.07 billion, a price-to-earnings ratio of 11.68 and a beta of 1.44. The stock has a fifty day simple moving average of $64.45 and a 200 day simple moving average of $65.59. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60.
Western Digital (NASDAQ:WDC - Get Free Report) last posted its earnings results on Wednesday, January 29th. The data storage provider reported $1.55 EPS 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%. On average, equities analysts forecast that Western Digital Co. will post 4.89 EPS for the current year.
Western Digital Company Profile
(
Free Report)
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.
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