Chevy Chase Trust Holdings LLC Buys 6,331 Shares of Western Digital Co. (NASDAQ:WDC)

Chevy Chase Trust Holdings LLC grew its holdings in Western Digital Co. (NASDAQ:WDC - Free Report) by 3.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 181,411 shares of the data storage provider's stock after acquiring an additional 6,331 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Western Digital worth $10,818,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. First Horizon Advisors Inc. increased its holdings in shares of 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 worth $200,000 after acquiring an additional 149 shares in the last quarter. Mather Group LLC. increased its holdings in shares of Western Digital by 7.0% in the fourth quarter. Mather Group LLC. now owns 2,416 shares of the data storage provider's stock worth $144,000 after acquiring an additional 159 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in shares of Western Digital by 1.4% during the fourth quarter. Vontobel Holding Ltd. now owns 11,804 shares of the data storage provider's stock worth $704,000 after buying an additional 164 shares in the last quarter. Quarry LP grew its holdings in shares of Western Digital by 22.6% during the third 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 holdings in shares of 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 in the last quarter. 92.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Gene M. Zamiska sold 658 shares of Western Digital stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total transaction of $46,053.42. Following the completion of the sale, the senior vice president now directly owns 28,863 shares of the company's stock, valued at approximately $2,020,121.37. This trade represents a 2.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.30% of the stock is currently owned by insiders.

Western Digital Stock Performance

Shares of WDC traded down $0.21 during mid-day trading on Thursday, reaching $71.29. The company's stock had a trading volume of 4,624,540 shares, compared to its average volume of 6,600,455. The stock has a market cap of $24.80 billion, a P/E ratio of 16.97 and a beta of 1.44. The business has a 50-day simple moving average of $64.60 and a two-hundred day simple moving average of $65.41. 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 Co. has a 1-year low of $52.77 and a 1-year high of $81.55.

Western Digital (NASDAQ:WDC - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share 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%. As a group, equities research analysts anticipate that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Benchmark downgraded Western Digital from a "buy" rating to a "hold" rating and set a $70.00 price objective for the company. in a report on Thursday, December 19th. BNP Paribas decreased their price objective on Western Digital from $95.00 to $90.00 in a report on Thursday, October 24th. Susquehanna decreased their price objective on Western Digital from $83.00 to $72.00 and set a "neutral" rating for the company in a report on Thursday, January 30th. Barclays reduced their price target on Western Digital from $90.00 to $80.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Finally, Citigroup reduced their price target on Western Digital from $82.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, January 30th. Seven equities research 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.com, Western Digital currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.42.

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.