Mountain Hill Investment Partners Corp. purchased a new stake in Western Digital Co. (NASDAQ:WDC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 80,341 shares of the data storage provider's stock, valued at approximately $4,791,000. Western Digital accounts for 4.9% of Mountain Hill Investment Partners Corp.'s investment portfolio, making the stock its 11th largest position.
Several other hedge funds and other institutional investors also recently bought and sold shares of WDC. Versant Capital Management Inc boosted its stake in shares of Western Digital by 278.9% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider's stock valued at $25,000 after purchasing an additional 304 shares in the last quarter. True Wealth Design LLC boosted its position in Western Digital by 2,184.2% during the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider's stock valued at $30,000 after acquiring an additional 415 shares in the last quarter. Sierra Ocean LLC purchased a new position in shares of Western Digital in the 4th quarter valued at $29,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Western Digital in the 4th quarter worth $30,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Western Digital during the 4th quarter worth $36,000. Institutional investors own 92.51% of the company's stock.
Analyst Upgrades and Downgrades
WDC has been the topic of several analyst reports. Susquehanna cut their target price on Western Digital from $83.00 to $72.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. Rosenblatt Securities cut 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 report on Wednesday, January 29th. StockNews.com cut shares of Western Digital from a "buy" rating to a "hold" rating in a research report on Monday. Wells Fargo & Company cut their price target on shares of Western Digital from $85.00 to $75.00 and set an "overweight" rating on the stock in a report on Tuesday, February 25th. Finally, The Goldman Sachs Group upped their price target on Western Digital from $70.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. 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 MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $80.21.
Check Out Our Latest Report on WDC
Insiders Place Their Bets
In related news, SVP Gene M. Zamiska sold 1,659 shares of Western Digital stock in a transaction on Friday, March 7th. The shares were 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 of the company's stock, valued at approximately $1,810,575.36. This trade represents a 3.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.30% of the company's stock.
Western Digital Stock Performance
Shares of WDC stock traded down $1.04 on Friday, hitting $40.87. The company had a trading volume of 693,479 shares, compared to its average volume of 5,919,053. The firm has a market cap of $14.22 billion, a P/E ratio of 9.76 and a beta of 1.42. Western Digital Co. has a twelve month low of $39.42 and a twelve month high of $81.55. The company has a 50-day moving average price of $56.18 and a 200-day moving average price of $62.57. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60.
Western Digital (NASDAQ:WDC - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 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, equities research analysts predict that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.
Western Digital Company Profile
(
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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