Western Digital Co. (NASDAQ:WDC) Shares Sold by Tredje AP fonden

Tredje AP fonden decreased its stake in shares of Western Digital Co. (NASDAQ:WDC - Free Report) by 50.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,262 shares of the data storage provider's stock after selling 25,262 shares during the quarter. Tredje AP fonden's holdings in Western Digital were worth $1,506,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Versant Capital Management Inc increased its stake 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 worth $25,000 after acquiring an additional 304 shares during the period. Sierra Ocean LLC acquired a new stake in Western Digital during the fourth quarter worth about $29,000. True Wealth Design LLC increased its position in Western Digital by 2,184.2% during the third quarter. True Wealth Design LLC now owns 434 shares of the data storage provider's stock worth $30,000 after purchasing an additional 415 shares during the last quarter. Comprehensive Financial Planning Inc. PA acquired a new stake in Western Digital during the fourth quarter worth about $30,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Western Digital during the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 92.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WDC. The Goldman Sachs Group lifted their price objective on shares of Western Digital from $70.00 to $80.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Citigroup boosted their price objective on shares of Western Digital from $60.45 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. UBS Group reduced their price target on shares of Western Digital from $74.00 to $50.00 and set a "neutral" rating for the company in a research report on Monday. Barclays dropped 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 note on Friday, January 17th. Finally, Robert W. Baird lowered their price target on shares of Western Digital from $100.00 to $80.00 and set an "outperform" rating on the stock in a research note on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $80.21.

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Western Digital Trading Up 1.3 %

WDC traded up $0.56 on Wednesday, reaching $44.90. 3,603,066 shares of the company's stock were exchanged, compared to its average volume of 5,966,249. The company's 50 day moving average is $58.96 and its 200-day moving average is $63.52. The company 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 twelve month low of $39.42 and a twelve month 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 (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a net margin of 9.95% and a return on equity of 15.68%. Equities analysts predict that Western Digital Co. will post 4.89 earnings per share for the current year.

Insider Buying and Selling at Western Digital

In other news, SVP Gene M. Zamiska sold 1,659 shares of the firm's stock in a transaction that occurred 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 sale, the senior vice president now owns 43,776 shares of the company's stock, valued at approximately $1,810,575.36. This trade represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.30% of the stock is owned by corporate insiders.

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.