UniSuper Management Pty Ltd Has $4.72 Million Position in Western Digital Co. (NASDAQ:WDC)

UniSuper Management Pty Ltd lifted its holdings in Western Digital Co. (NASDAQ:WDC - Free Report) by 8.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,216 shares of the data storage provider's stock after purchasing an additional 6,212 shares during the period. UniSuper Management Pty Ltd's holdings in Western Digital were worth $4,724,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in WDC. Versant Capital Management Inc boosted its position in shares of Western Digital by 278.9% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider's stock valued at $25,000 after purchasing an additional 304 shares during the period. Sierra Ocean LLC purchased a new stake in Western Digital during the fourth quarter valued at about $29,000. True Wealth Design LLC boosted its holdings in shares of Western Digital by 2,184.2% in the third quarter. True Wealth Design LLC now owns 434 shares of the data storage provider's stock worth $30,000 after buying an additional 415 shares during the period. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Western Digital in the fourth quarter worth approximately $30,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Western Digital in the 4th quarter valued at approximately $36,000. 92.51% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Gene M. Zamiska sold 1,659 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $41.36, for a total value of $68,616.24. Following the completion of the transaction, the senior vice president now owns 43,776 shares of the company's stock, valued at $1,810,575.36. This represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.30% of the stock is currently owned by company insiders.

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Wall Street Analysts Forecast Growth

WDC has been the topic of several research analyst reports. Robert W. Baird lowered their price objective on shares of Western Digital from $100.00 to $80.00 and set an "outperform" rating on the stock in a research report on Thursday, January 30th. Wedbush reiterated an "outperform" rating and set a $95.00 price objective on shares of Western Digital in a report on Monday, February 10th. The Goldman Sachs Group boosted their target price on Western Digital from $70.00 to $80.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. StockNews.com downgraded Western Digital from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Finally, Bank of America dropped their price objective on Western Digital from $89.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Western Digital currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.21.

Western Digital Stock Performance

Shares of WDC stock traded down $0.19 during trading hours on Monday, reaching $40.43. 8,212,156 shares of the company's stock were exchanged, compared to its average volume of 6,113,904. Western Digital Co. has a fifty-two week low of $39.10 and a fifty-two week high of $81.55. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $14.06 billion, a P/E ratio of 9.63 and a beta of 1.42. The business has a fifty day moving average price of $55.69 and a 200-day moving average price of $62.41.

Western Digital (NASDAQ:WDC - Get Free Report) last released 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 net margin of 9.95% and a return on equity of 15.68%. Analysts predict that Western Digital Co. will post 4.89 EPS for the current fiscal 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.