Mizuho Securities USA LLC Acquires 11,592 Shares of Western Digital Co. (NASDAQ:WDC)

Mizuho Securities USA LLC increased its holdings in Western Digital Co. (NASDAQ:WDC - Free Report) by 54.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,765 shares of the data storage provider's stock after acquiring an additional 11,592 shares during the period. Mizuho Securities USA LLC's holdings in Western Digital were worth $1,954,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Versant Capital Management Inc raised its position in Western Digital by 278.9% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider's stock worth $25,000 after acquiring an additional 304 shares during the period. Sierra Ocean LLC bought a new stake in Western Digital during the 4th quarter valued at $29,000. True Wealth Design LLC lifted its position in shares of Western Digital by 2,184.2% during the third quarter. True Wealth Design LLC now owns 434 shares of the data storage provider's stock worth $30,000 after acquiring an additional 415 shares in the last quarter. Comprehensive Financial Planning Inc. PA bought a new position in shares of Western Digital in the fourth quarter worth $30,000. Finally, OFI Invest Asset Management bought a new stake in shares of Western Digital during the 4th quarter valued at $36,000. 92.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on WDC shares. Susquehanna reduced their target price on Western Digital from $83.00 to $72.00 and set a "neutral" rating for the company in a report on Thursday, January 30th. Rosenblatt Securities cut their price objective on Western Digital from $115.00 to $95.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Robert W. Baird lowered their target price on shares of Western Digital from $100.00 to $80.00 and set an "outperform" rating on the stock in a research note on Thursday, January 30th. Benchmark cut shares of Western Digital from a "buy" rating to a "hold" rating and set a $70.00 price target for the company. in a research note on Thursday, December 19th. Finally, Mizuho cut their target price on shares of Western Digital from $90.00 to $82.00 and set an "outperform" rating for the company in a research report on Friday, January 3rd. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Western Digital currently has an average rating of "Moderate Buy" and a consensus price target of $80.21.

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Western Digital Trading Down 1.7 %

WDC traded down $0.71 during midday trading on Thursday, reaching $41.91. 4,909,631 shares of the company's stock traded hands, compared to its average volume of 5,938,737. The stock has a market capitalization of $14.58 billion, a price-to-earnings ratio of 9.98 and a beta of 1.42. Western Digital Co. has a 52 week low of $39.42 and a 52 week high of $81.55. The firm has a fifty day moving average of $56.18 and a two-hundred day moving average of $62.57. 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 (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 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 fiscal year.

Insider Buying and Selling

In related news, SVP Gene M. Zamiska sold 1,659 shares of the company's stock in a transaction that occurred 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 sale, the senior vice president now owns 43,776 shares in the company, valued at $1,810,575.36. This represents a 3.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.30% of the stock is owned by company insiders.

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.