Savant Capital LLC Lowers Position in Western Digital Co. (NASDAQ:WDC)

Savant Capital LLC trimmed its holdings in shares of Western Digital Co. (NASDAQ:WDC - Free Report) by 43.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,271 shares of the data storage provider's stock after selling 9,244 shares during the quarter. Savant Capital LLC's holdings in Western Digital were worth $732,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in WDC. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Western Digital by 32.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,131 shares of the data storage provider's stock valued at $2,691,000 after buying an additional 11,013 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Western Digital by 6.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 841,700 shares of the data storage provider's stock valued at $50,191,000 after acquiring an additional 50,188 shares during the last quarter. Aigen Investment Management LP raised its position in Western Digital by 124.2% during the third quarter. Aigen Investment Management LP now owns 21,412 shares of the data storage provider's stock valued at $1,462,000 after purchasing an additional 11,860 shares in the last quarter. Avala Global LP raised its position in Western Digital by 49.0% during the third quarter. Avala Global LP now owns 1,147,700 shares of the data storage provider's stock valued at $78,376,000 after purchasing an additional 377,500 shares in the last quarter. Finally, Swedbank AB lifted its stake in Western Digital by 19.7% during the third quarter. Swedbank AB now owns 291,777 shares of the data storage provider's stock worth $19,925,000 after purchasing an additional 47,965 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors.

Western Digital Stock Performance

Shares of WDC stock traded down $0.58 during mid-day trading on Wednesday, reaching $71.45. 4,297,465 shares of the company's stock traded hands, compared to its average volume of 6,612,634. Western Digital Co. has a 12 month low of $52.77 and a 12 month high of $81.55. The firm has a 50 day moving average price of $64.57 and a two-hundred day moving average price of $65.37. The firm has a market capitalization of $24.85 billion, a PE ratio of 17.01 and a beta of 1.44. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99.

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 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, research analysts forecast that Western Digital Co. will post 4.89 EPS for the current year.

Insiders Place Their Bets

In other Western Digital news, SVP Gene M. Zamiska sold 658 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total value of $46,053.42. Following the completion of the sale, the senior vice president now owns 28,863 shares in the company, valued at approximately $2,020,121.37. This represents a 2.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 1,347 shares of company stock worth $93,027. Company insiders own 0.30% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on WDC. The Goldman Sachs Group raised their price objective on Western Digital from $70.00 to $80.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Cantor Fitzgerald reissued an "overweight" rating and set a $95.00 price target on shares of Western Digital in a research note on Tuesday. Citigroup cut their price objective on shares of Western Digital from $82.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, January 30th. Mizuho decreased their target price on shares of Western Digital from $90.00 to $82.00 and set an "outperform" rating on the stock in a research report on Friday, January 3rd. Finally, Morgan Stanley cut their price target on shares of Western Digital from $100.00 to $93.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $84.42.

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.