Alliancebernstein L.P. decreased its holdings in shares of Western Digital Co. (NASDAQ:WDC - Free Report) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,293,602 shares of the data storage provider's stock after selling 145,948 shares during the quarter. Alliancebernstein L.P. owned 0.95% of Western Digital worth $196,397,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc boosted its position in Western Digital by 278.9% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider's stock valued at $25,000 after buying an additional 304 shares during the period. Sierra Ocean LLC bought a new position in Western Digital in the fourth quarter worth approximately $29,000. Comprehensive Financial Planning Inc. PA bought a new stake in Western Digital during the 4th quarter valued at $30,000. OFI Invest Asset Management bought a new position in shares of Western Digital during the 4th quarter worth $36,000. Finally, S.A. Mason LLC purchased a new position in shares of Western Digital during the fourth quarter valued at $45,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.
Western Digital Stock Performance
WDC traded down $7.63 on Thursday, reaching $34.15. 21,300,454 shares of the stock were exchanged, 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. The company's 50-day moving average price is $53.44 and its 200 day moving average price is $61.74. The firm has a market capitalization of $11.88 billion, a PE ratio of 8.13 and a beta of 1.42. Western Digital Co. has a fifty-two week low of $34.01 and a fifty-two week high of $81.55.
Western Digital (NASDAQ:WDC - Get Free Report) last released its earnings results on Wednesday, January 29th. The data storage provider reported $1.55 EPS for the quarter, missing analysts' consensus estimates of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. As a group, sell-side analysts forecast that Western Digital Co. will post 4.89 EPS for the current fiscal year.
Insider Buying and Selling at Western Digital
In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $41.36, for a total value of $68,616.24. Following the completion of the transaction, the senior vice president now owns 43,776 shares in the company, valued at approximately $1,810,575.36. This represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.30% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Several research analysts have issued reports on WDC shares. Citigroup increased their target price on shares of Western Digital from $60.45 to $64.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Wedbush reissued an "outperform" rating and set a $95.00 price objective on shares of Western Digital in a report on Monday, February 10th. Benchmark downgraded shares of Western Digital from a "buy" rating to a "hold" rating and set a $70.00 price objective for the company. in a research note on Thursday, December 19th. Barclays dropped their target price on Western Digital from $90.00 to $80.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Finally, Cantor Fitzgerald reduced their price target on Western Digital from $95.00 to $65.00 and set an "overweight" rating for the company in a research report on Friday, March 7th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $80.21.
Read Our Latest Report on Western Digital
About Western Digital
(
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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