Swiss National Bank Purchases 7,500 Shares of Western Digital Co. (NASDAQ:WDC)

Swiss National Bank lifted its position in Western Digital Co. (NASDAQ:WDC - Free Report) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 976,507 shares of the data storage provider's stock after buying an additional 7,500 shares during the quarter. Swiss National Bank owned about 0.28% of Western Digital worth $58,229,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. First Horizon Advisors Inc. grew its stake in Western Digital by 5.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,929 shares of the data storage provider's stock valued at $200,000 after buying an additional 149 shares during the last quarter. Mather Group LLC. boosted its stake in shares of Western Digital by 7.0% in the fourth quarter. Mather Group LLC. now owns 2,416 shares of the data storage provider's stock valued at $144,000 after buying an additional 159 shares during the period. Vontobel Holding Ltd. boosted its stake in shares of Western Digital by 1.4% in the fourth quarter. Vontobel Holding Ltd. now owns 11,804 shares of the data storage provider's stock valued at $704,000 after buying an additional 164 shares during the period. Quarry LP boosted its stake in shares of Western Digital by 22.6% in the third quarter. Quarry LP now owns 932 shares of the data storage provider's stock valued at $64,000 after buying an additional 172 shares during the period. Finally, Inspire Investing LLC lifted its stake in Western Digital by 4.3% during the fourth quarter. Inspire Investing LLC now owns 4,324 shares of the data storage provider's stock worth $258,000 after purchasing an additional 177 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company's stock.

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Insiders Place Their Bets

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was 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 $1,810,575.36. This trade represents a 3.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

WDC has been the subject of a number of research reports. Wedbush reiterated an "outperform" rating and issued a $95.00 price target on shares of Western Digital in a research note on Monday, February 10th. Morgan Stanley lowered their price objective on Western Digital from $100.00 to $93.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Bank of America dropped their target price 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. Benchmark cut Western Digital from a "buy" rating to a "hold" rating and set a $70.00 price objective for the company. in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group upped their target price on shares of Western Digital from $70.00 to $80.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, Western Digital has a consensus rating of "Moderate Buy" and a consensus target price of $80.21.

Western Digital Stock Performance

NASDAQ:WDC traded up $0.56 during trading on Wednesday, reaching $44.90. The company's stock had a trading volume of 3,602,304 shares, compared to its average volume of 5,966,248. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99. The firm has a market cap of $15.62 billion, a price-to-earnings ratio of 10.69 and a beta of 1.42. Western Digital Co. has a 12 month low of $39.42 and a 12 month high of $81.55. The firm has a 50 day moving average of $58.96 and a 200-day moving average of $63.52.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings results 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 EPS for the current fiscal year.

About Western Digital

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.