Parnassus Investments LLC Has $177.70 Million Holdings in Western Digital Co. (NASDAQ:WDC)

Parnassus Investments LLC increased its position in shares of Western Digital Co. (NASDAQ:WDC - Free Report) by 24.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,980,047 shares of the data storage provider's stock after acquiring an additional 586,924 shares during the quarter. Parnassus Investments LLC owned 0.86% of Western Digital worth $177,700,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. State Street Corp raised 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 valued at $926,879,000 after acquiring an additional 423,651 shares during the period. Geode Capital Management LLC raised its holdings in shares of Western Digital by 1.0% during the third quarter. Geode Capital Management LLC now owns 7,921,608 shares of the data storage provider's stock valued at $539,355,000 after acquiring an additional 76,781 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Western Digital by 24.6% during the third 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 acquiring an additional 732,344 shares during the period. Maple Rock Capital Partners Inc. raised its holdings 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 valued at $224,497,000 after acquiring an additional 383,390 shares during the period. Finally, Holocene Advisors LP raised its holdings in shares of Western Digital by 25.7% during the third quarter. Holocene Advisors LP now owns 3,192,762 shares of the data storage provider's stock valued at $218,034,000 after acquiring an additional 651,847 shares during the period. Institutional investors and hedge funds own 92.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WDC shares. Susquehanna lowered their price objective on shares of Western Digital from $83.00 to $72.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. Barclays lowered their price objective on shares of Western Digital from $90.00 to $80.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Morgan Stanley lowered their price objective on shares of Western Digital from $100.00 to $93.00 and set an "overweight" rating on the stock in a research report on Thursday, December 19th. Robert W. Baird lowered their price objective on shares of Western Digital from $100.00 to $80.00 and set an "outperform" rating on the stock in a research report on Thursday, January 30th. Finally, Bank of America lowered their price objective on shares of Western Digital from $89.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $81.47.

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Insider Buying and Selling

In related news, SVP Gene M. Zamiska sold 1,659 shares of the company's 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 completion of the transaction, the senior vice president now directly 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is owned by insiders.

Western Digital Price Performance

NASDAQ WDC opened at $42.03 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60. 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 market cap of $14.62 billion, a P/E ratio of 10.01 and a beta of 1.42. Western Digital Co. has a 1 year low of $39.42 and a 1 year high of $61.16.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings data 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%. On average, sell-side analysts predict that Western Digital Co. will post 4.89 EPS for the current year.

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.

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