Daiwa Securities Group Inc. Has $3.05 Million Stock Position in Western Digital Co. (NASDAQ:WDC)

Daiwa Securities Group Inc. lifted its holdings in shares of Western Digital Co. (NASDAQ:WDC - Free Report) by 14.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,194 shares of the data storage provider's stock after acquiring an additional 6,320 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Western Digital were worth $3,053,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of WDC. State Street Corp lifted its holdings in shares of Western Digital by 3.2% during the third quarter. State Street Corp now owns 13,572,686 shares of the data storage provider's stock worth $926,879,000 after buying an additional 423,651 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Western Digital by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 7,921,608 shares of the data storage provider's stock worth $539,355,000 after buying an additional 76,781 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Western Digital by 24.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,711,428 shares of the data storage provider's stock valued at $253,453,000 after purchasing an additional 732,344 shares in the last quarter. Maple Rock Capital Partners Inc. grew its stake in shares of Western Digital by 13.2% during the third quarter. Maple Rock Capital Partners Inc. now owns 3,287,400 shares of the data storage provider's stock worth $224,497,000 after buying an additional 383,390 shares during the last quarter. Finally, Holocene Advisors LP grew its position in Western Digital by 25.7% during the 3rd quarter. Holocene Advisors LP now owns 3,192,762 shares of the data storage provider's stock worth $218,034,000 after acquiring an additional 651,847 shares during the last quarter. 92.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on WDC. StockNews.com assumed coverage on Western Digital in a report on Wednesday, February 26th. They issued a "buy" rating for the company. Wedbush reaffirmed an "outperform" rating and issued a $95.00 price objective on shares of Western Digital in a research note on Monday, February 10th. Robert W. Baird reduced their target price on Western Digital from $100.00 to $80.00 and set an "outperform" rating on the stock in a report on Thursday, January 30th. Morgan Stanley lowered their price target on shares of Western Digital from $100.00 to $93.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. Finally, Rosenblatt Securities reduced their price objective on shares of Western Digital from $115.00 to $95.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.47.

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Western Digital Stock Performance

NASDAQ WDC opened at $42.03 on Friday. The company has a market cap of $14.62 billion, a P/E ratio of 10.01 and a beta of 1.42. The company has a fifty day simple moving average of $60.58 and a 200 day simple moving average of $64.06. 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 12-month low of $39.42 and a 12-month high of $61.16.

Western Digital (NASDAQ:WDC - Get Free Report) last issued 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 net margin of 9.95% and a return on equity of 15.68%. Sell-side analysts predict that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.

Insider Activity at Western Digital

In related news, SVP Gene M. Zamiska sold 1,659 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $41.36, for a total value of $68,616.24. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.30% of the stock is owned by insiders.

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.

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