Western Digital Co. (NASDAQ:WDC) Shares Sold by American Century Companies Inc.

American Century Companies Inc. reduced its position in shares of Western Digital Co. (NASDAQ:WDC - Free Report) by 80.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,297 shares of the data storage provider's stock after selling 25,144 shares during the period. American Century Companies Inc.'s holdings in Western Digital were worth $375,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Versant Capital Management Inc increased 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 acquiring an additional 304 shares during the period. Sierra Ocean LLC acquired a new stake in Western Digital in the fourth quarter valued at $29,000. Comprehensive Financial Planning Inc. PA acquired a new position in Western Digital during the 4th quarter worth about $30,000. OFI Invest Asset Management bought a new stake in Western Digital in the fourth quarter valued at approximately $36,000. Finally, S.A. Mason LLC bought a new stake in shares of Western Digital in the 4th quarter valued at $45,000. Institutional investors own 92.51% of the company's stock.

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 transaction of $68,616.24. Following the completion of the sale, the senior vice president now owns 43,776 shares of the company's stock, valued at $1,810,575.36. This represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.30% of the company's stock.

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Western Digital Price Performance

WDC stock traded up $0.11 during mid-day trading on Tuesday, reaching $35.93. 6,194,134 shares of the company traded hands, compared to its average volume of 6,345,873. The company has a fifty day moving average price of $47.29 and a 200-day moving average price of $59.47. The company has a market capitalization of $12.50 billion, a P/E ratio of 8.55 and a beta of 1.39. Western Digital Co. has a 52-week low of $28.83 and a 52-week high of $81.55. 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 (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (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, analysts anticipate that Western Digital Co. will post 4.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WDC. Bank of America lowered their price objective on shares of Western Digital from $89.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. Benchmark raised Western Digital from a "hold" rating to a "buy" rating and set a $55.00 price objective for the company in a research note on Thursday, April 10th. Cantor Fitzgerald decreased their price target on Western Digital from $95.00 to $65.00 and set an "overweight" rating for the company in a report on Friday, March 7th. UBS Group dropped their price objective on Western Digital from $74.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday, March 17th. Finally, StockNews.com started coverage on shares of Western Digital in a research note on Tuesday, April 8th. They issued a "hold" rating for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $76.16.

Western Digital 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.