Sterling Capital Management LLC Buys 8,089 Shares of Western Digital Co. (NASDAQ:WDC)

Sterling Capital Management LLC lifted its stake in Western Digital Co. (NASDAQ:WDC - Free Report) by 65.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,530 shares of the data storage provider's stock after buying an additional 8,089 shares during the quarter. Sterling Capital Management LLC's holdings in Western Digital were worth $1,224,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc increased its position in shares of Western Digital by 278.9% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider's stock valued at $25,000 after buying an additional 304 shares in the last quarter. Sierra Ocean LLC purchased a new position in shares of Western Digital during the 4th quarter worth $29,000. Comprehensive Financial Planning Inc. PA acquired a new position in Western Digital in the 4th quarter valued at about $30,000. OFI Invest Asset Management acquired a new stake in shares of Western Digital during the 4th quarter worth approximately $36,000. Finally, S.A. Mason LLC purchased a new stake in shares of Western Digital during the 4th quarter valued at approximately $45,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on WDC shares. Morgan Stanley started coverage on Western Digital in a research report on Wednesday. They set an "overweight" rating and a $46.00 price target for the company. 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 note on Thursday, April 10th. Wedbush reissued an "underperform" rating on shares of Western Digital in a research note on Friday, April 11th. Citigroup cut their target price on shares of Western Digital from $64.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, StockNews.com began coverage on shares of Western Digital in a research note on Wednesday. They issued a "hold" rating for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Western Digital presently has an average rating of "Moderate Buy" and an average price target of $73.68.

Insider Transactions at Western Digital

In related news, SVP Gene M. Zamiska sold 1,659 shares of Western Digital stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $41.36, for a total transaction of $68,616.24. Following the transaction, the senior vice president now owns 43,776 shares of the company's stock, valued at $1,810,575.36. The trade was a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.30% of the company's stock.

Western Digital Price Performance

WDC traded up $0.89 on Friday, reaching $36.51. The stock had a trading volume of 7,393,307 shares, compared to its average volume of 6,368,571. The firm has a 50-day moving average of $45.41 and a 200-day moving average of $58.88. Western Digital Co. has a fifty-two week low of $28.83 and a fifty-two week high of $81.55. 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 market capitalization of $12.70 billion, a price-to-earnings ratio of 8.69 and a beta of 1.39.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its earnings results 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, sell-side analysts anticipate 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.