DnB Asset Management AS reduced its position in Western Digital Co. (NASDAQ:WDC - Free Report) by 27.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,733,138 shares of the data storage provider's stock after selling 2,876,734 shares during the quarter. Western Digital comprises about 2.0% of DnB Asset Management AS's holdings, making the stock its 9th biggest holding. DnB Asset Management AS owned 2.22% of Western Digital worth $461,127,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of WDC. Versant Capital Management Inc raised its holdings in shares of 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 in the last quarter. True Wealth Design LLC increased its position in shares of Western Digital by 2,184.2% in the third quarter. True Wealth Design LLC now owns 434 shares of the data storage provider's stock worth $30,000 after purchasing an additional 415 shares during the last quarter. Sierra Ocean LLC bought a new stake in Western Digital during the fourth quarter valued at approximately $29,000. Comprehensive Financial Planning Inc. PA purchased a new position in Western Digital in the 4th quarter worth approximately $30,000. Finally, OFI Invest Asset Management bought a new position in shares of Western Digital in the 4th quarter worth $36,000. Hedge funds and other institutional investors own 92.51% of the company's stock.
Western Digital Trading Down 0.5 %
WDC stock traded down $0.19 on Monday, reaching $40.43. The company's stock had a trading volume of 7,102,178 shares, compared to its average volume of 6,113,052. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99. The business has a fifty day simple moving average of $55.69 and a two-hundred day simple moving average of $62.41. The firm has a market cap of $14.06 billion, a PE ratio of 9.63 and a beta of 1.42. Western Digital Co. has a 12-month low of $39.10 and a 12-month high of $81.55.
Western Digital (NASDAQ:WDC - Get Free Report) last announced its earnings results 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 return on equity of 15.68% and a net margin of 9.95%. As a group, research analysts forecast that Western Digital Co. will post 4.89 EPS for the current year.
Wall Street Analyst Weigh In
WDC has been the subject of a number of research analyst reports. Rosenblatt Securities cut their target price on shares of Western Digital from $115.00 to $95.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Robert W. Baird cut their price objective on Western Digital from $100.00 to $80.00 and set an "outperform" rating for the company in a report on Thursday, January 30th. Mizuho decreased their price objective on Western Digital from $90.00 to $82.00 and set an "outperform" rating on the stock in a report on Friday, January 3rd. Citigroup upped their target price on Western Digital from $60.45 to $64.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Finally, Bank of America decreased their price target on shares of Western Digital from $89.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $80.21.
Read Our Latest Report on Western Digital
Insider Buying and Selling
In other news, SVP Gene M. Zamiska sold 1,659 shares of Western Digital 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 transaction, the senior vice president now directly owns 43,776 shares in the company, valued at approximately $1,810,575.36. This trade represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is currently owned by insiders.
About Western Digital
(
Free Report)
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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