BTG Pactual Asset Management US LLC Acquires Shares of 400,000 Western Digital Co. (NASDAQ:WDC)

BTG Pactual Asset Management US LLC bought a new position in shares of Western Digital Co. (NASDAQ:WDC - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 400,000 shares of the data storage provider's stock, valued at approximately $23,852,000. Western Digital accounts for approximately 2.4% of BTG Pactual Asset Management US LLC's portfolio, making the stock its 6th biggest holding. BTG Pactual Asset Management US LLC owned approximately 0.12% of Western Digital as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Versant Capital Management Inc increased its stake in shares of Western Digital by 278.9% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider's stock worth $25,000 after purchasing an additional 304 shares during the period. Sierra Ocean LLC bought a new position in Western Digital during the 4th quarter worth $29,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Western Digital during the fourth quarter worth $30,000. OFI Invest Asset Management bought a new stake in shares of Western Digital in the fourth quarter valued at about $36,000. Finally, S.A. Mason LLC acquired a new position in shares of Western Digital in the fourth quarter valued at about $45,000. Institutional investors own 92.51% of the company's stock.

Wall Street Analyst Weigh In

WDC has been the topic of a number of analyst reports. Bank of America decreased their target price on shares of Western Digital from $89.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Wedbush restated an "underperform" rating on shares of Western Digital in a research report on Friday, April 11th. Barclays reduced their price objective on shares of Western Digital from $90.00 to $80.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Wells Fargo & Company reissued a "neutral" rating on shares of Western Digital in a research note on Friday, April 11th. Finally, StockNews.com began coverage on Western Digital in a research note on Wednesday. They issued a "hold" rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $73.68.

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Western Digital Price Performance

Western Digital stock traded down $0.31 during mid-day trading on Wednesday, reaching $35.62. 7,265,336 shares of the company's stock traded hands, compared to its average volume of 6,357,053. The stock has a 50 day moving average of $46.71 and a two-hundred day moving average of $59.30. Western Digital Co. has a 12-month low of $28.83 and a 12-month high of $81.55. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. The company has a market cap of $12.39 billion, a price-to-earnings ratio of 8.48 and a beta of 1.39.

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

Insider Activity

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. Company 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.