Victory Capital Management Inc. trimmed its position in shares of Western Digital Co. (NASDAQ:WDC - Free Report) by 38.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,756 shares of the data storage provider's stock after selling 61,829 shares during the quarter. Victory Capital Management Inc.'s holdings in Western Digital were worth $6,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also made changes to their positions in WDC. Versant Capital Management Inc lifted its holdings in Western Digital by 278.9% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider's stock worth $25,000 after purchasing an additional 304 shares during the last quarter. True Wealth Design LLC lifted its holdings in Western Digital by 2,184.2% in the 3rd 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. Sierra Ocean LLC acquired a new stake in Western Digital in the 4th quarter worth approximately $29,000. Comprehensive Financial Planning Inc. PA acquired a new stake in Western Digital in the 4th quarter worth approximately $30,000. Finally, Brooklyn Investment Group acquired a new stake in Western Digital in the 3rd quarter worth approximately $45,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.
Western Digital Price Performance
WDC stock traded down $0.41 during trading on Tuesday, hitting $44.34. The company had a trading volume of 5,183,774 shares, compared to its average volume of 5,967,941. The company has a fifty day moving average price of $59.37 and a two-hundred day moving average price of $63.67. 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 cap of $15.42 billion, a P/E ratio of 10.56 and a beta of 1.42. Western Digital Co. has a fifty-two week low of $39.42 and a fifty-two week high of $81.55.
Western Digital (NASDAQ:WDC - Get Free Report) last announced its quarterly 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%. Equities research analysts expect that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.
Analysts Set New Price Targets
WDC has been the subject of several analyst reports. Morgan Stanley reduced their target price on Western Digital from $100.00 to $93.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. Barclays dropped their price target on Western Digital from $90.00 to $80.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Cantor Fitzgerald dropped their price target on Western Digital from $95.00 to $65.00 and set an "overweight" rating on the stock in a research report on Friday, March 7th. Robert W. Baird dropped their price target on Western Digital from $100.00 to $80.00 and set an "outperform" rating on the stock in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group lifted their price target on Western Digital from $70.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $80.21.
Read Our Latest Stock Report on Western Digital
Insider Activity at Western Digital
In related news, SVP Gene M. Zamiska sold 1,659 shares of the business's stock in a transaction on 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. The trade was a 3.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is owned by insiders.
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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