FIL Ltd Purchases 50,756 Shares of Western Digital Co. (NASDAQ:WDC)

FIL Ltd increased its position in shares of Western Digital Co. (NASDAQ:WDC - Free Report) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,202,627 shares of the data storage provider's stock after purchasing an additional 50,756 shares during the period. FIL Ltd owned approximately 0.63% of Western Digital worth $131,343,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Captrust Financial Advisors grew its stake in shares of Western Digital by 21.8% in the third quarter. Captrust Financial Advisors now owns 11,177 shares of the data storage provider's stock valued at $763,000 after acquiring an additional 1,998 shares in the last quarter. IHT Wealth Management LLC acquired a new position in shares of Western Digital during the 3rd quarter worth approximately $246,000. Quarry LP increased 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 purchasing an additional 172 shares during the period. Quantinno Capital Management LP increased its holdings in shares of Western Digital by 68.7% during the third quarter. Quantinno Capital Management LP now owns 20,570 shares of the data storage provider's stock worth $1,405,000 after purchasing an additional 8,378 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Western Digital by 20.4% in the third quarter. Wellington Management Group LLP now owns 48,501 shares of the data storage provider's stock valued at $3,312,000 after buying an additional 8,217 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In related 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 transaction, the senior vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is owned by company insiders.

Analyst Ratings Changes

WDC has been the topic of a number of recent research reports. Mizuho lowered their price objective on Western Digital from $82.00 to $68.00 and set an "outperform" rating on the stock in a research note on Thursday. Wells Fargo & Company dropped their price target on Western Digital from $85.00 to $75.00 and set an "overweight" rating for the company in a research note on Tuesday, February 25th. Citigroup increased their price objective on shares of Western Digital from $60.45 to $64.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Bank of America dropped their target price on shares of Western Digital from $89.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. Finally, Benchmark upgraded shares of Western Digital from a "hold" rating to a "buy" rating and set a $55.00 price target on the stock in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $77.00.

Western Digital Trading Up 4.3 %

Shares of Western Digital stock traded up $1.47 during midday trading on Monday, reaching $35.87. The company had a trading volume of 2,290,252 shares, compared to its average volume of 6,314,804. The firm has a market cap of $12.48 billion, a PE ratio of 8.54 and a beta of 1.39. The stock has a fifty day moving average price of $48.44 and a 200 day moving average price of $59.87. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26. Western Digital Co. has a fifty-two week low of $28.83 and a fifty-two week high of $81.55.

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

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.