Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Western Digital Co. (NASDAQ:WDC - Free Report) by 6.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 841,700 shares of the data storage provider's stock after purchasing an additional 50,188 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of Western Digital worth $50,191,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of WDC. Strategic Financial Concepts LLC purchased a new stake in Western Digital during the fourth quarter valued at approximately $732,000. Silver Oak Securities Incorporated bought a new stake in shares of Western Digital in the 4th quarter valued at about $217,000. Choreo LLC boosted its stake in Western Digital by 31.8% in the 4th quarter. Choreo LLC now owns 6,692 shares of the data storage provider's stock worth $399,000 after purchasing an additional 1,613 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Western Digital by 32.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,131 shares of the data storage provider's stock worth $2,691,000 after purchasing an additional 11,013 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its stake in Western Digital by 2.5% in the 4th quarter. Yousif Capital Management LLC now owns 46,595 shares of the data storage provider's stock worth $2,778,000 after purchasing an additional 1,117 shares in the last quarter. Institutional investors own 92.51% of the company's stock.
Insider Buying and Selling at Western Digital
In other Western Digital news, SVP Gene M. Zamiska sold 658 shares of the stock in a transaction on Tuesday, November 26th. The shares were 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 $2,020,121.37. This trade represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders sold 1,347 shares of company stock valued at $93,027. Corporate insiders own 0.30% of the company's stock.
Western Digital Stock Performance
Shares of NASDAQ:WDC traded up $0.83 on Friday, hitting $68.39. 5,673,098 shares of the company were exchanged, compared to its average volume of 6,619,453. The firm has a market capitalization of $23.79 billion, a price-to-earnings ratio of 16.28 and a beta of 1.44. The company's 50 day moving average price is $64.55 and its two-hundred day moving average price is $65.21. Western Digital Co. has a one year low of $52.77 and a one year high of $81.55. 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 issued its quarterly earnings data 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 return on equity of 15.68% and a net margin of 9.95%. Research analysts expect that Western Digital Co. will post 4.89 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on WDC. Citigroup cut their target price on shares of Western Digital from $82.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, January 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $95.00 target price on shares of Western Digital in a research report on Monday. Wedbush reiterated an "outperform" rating and set a $95.00 price target on shares of Western Digital in a research note on Monday. Barclays cut their target price on shares of Western Digital from $90.00 to $80.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Finally, Wells Fargo & Company lowered their price target on Western Digital from $95.00 to $85.00 and set an "overweight" rating for the company in a report on Thursday, January 16th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $84.42.
Get Our Latest Report on WDC
Western Digital 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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