25,265 Shares in Western Digital Co. (NASDAQ:WDC) Acquired by AXQ Capital LP

AXQ Capital LP acquired a new stake in Western Digital Co. (NASDAQ:WDC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 25,265 shares of the data storage provider's stock, valued at approximately $1,507,000. Western Digital comprises about 0.7% of AXQ Capital LP's investment portfolio, making the stock its 17th largest holding.

Several other institutional investors have also modified their holdings of WDC. First Horizon Advisors Inc. lifted its position in Western Digital by 5.4% in the third quarter. First Horizon Advisors Inc. now owns 2,929 shares of the data storage provider's stock valued at $200,000 after acquiring an additional 149 shares during the last quarter. Mather Group LLC. lifted its holdings in shares of Western Digital by 7.0% in the 4th quarter. Mather Group LLC. now owns 2,416 shares of the data storage provider's stock valued at $144,000 after purchasing an additional 159 shares during the last quarter. Vontobel Holding Ltd. boosted its position in shares of Western Digital by 1.4% in the 4th quarter. Vontobel Holding Ltd. now owns 11,804 shares of the data storage provider's stock valued at $704,000 after purchasing an additional 164 shares during the period. Quarry LP grew its stake in 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 during the last quarter. Finally, Inspire Investing LLC increased its position in Western Digital by 4.3% during the fourth 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 owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of brokerages have recently issued reports on WDC. Mizuho lowered 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 report on Friday, January 3rd. Susquehanna dropped their price objective on shares of Western Digital from $83.00 to $72.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. Cantor Fitzgerald decreased their target price on shares of Western Digital from $95.00 to $65.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. Citigroup boosted their price target on Western Digital from $60.45 to $64.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Finally, Wedbush reaffirmed an "outperform" rating and set a $95.00 price target on shares of Western Digital in a report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, Western Digital currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.21.

Western Digital Price Performance

Shares of NASDAQ:WDC traded down $0.77 during midday trading on Wednesday, hitting $42.62. 7,243,581 shares of the stock were exchanged, compared to its average volume of 5,949,118. Western Digital Co. has a twelve month low of $39.42 and a twelve month high of $81.55. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average price of $56.62 and a 200-day moving average price of $62.71. The stock has a market cap of $14.82 billion, a P/E ratio of 10.15 and a beta of 1.42.

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 (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a net margin of 9.95% and a return on equity of 15.68%. On average, research analysts forecast that Western Digital Co. will post 4.89 earnings per share for the current year.

Insider Buying and Selling

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 43,776 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.30% of the company's stock.

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.