Pictet Asset Management Holding SA Increases Stock Holdings in Western Digital Co. (NASDAQ:WDC)

Pictet Asset Management Holding SA lifted its position in shares of Western Digital Co. (NASDAQ:WDC - Free Report) by 10.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 202,512 shares of the data storage provider's stock after purchasing an additional 18,892 shares during the period. Pictet Asset Management Holding SA owned 0.06% of Western Digital worth $12,076,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WDC. Versant Capital Management Inc raised 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 valued at $25,000 after acquiring an additional 304 shares during the period. Sierra Ocean LLC acquired a new position in shares of Western Digital in the fourth quarter valued at approximately $29,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Western Digital in the fourth quarter valued at approximately $30,000. OFI Invest Asset Management bought a new position in shares of Western Digital during the fourth quarter worth approximately $36,000. Finally, S.A. Mason LLC acquired a new stake in Western Digital during the 4th quarter worth approximately $45,000. 92.51% of the stock is owned by institutional investors.

Western Digital Trading Down 18.3 %

Shares of NASDAQ:WDC traded down $7.63 during mid-day trading on Thursday, reaching $34.15. 21,300,454 shares of the company's stock were exchanged, compared to its average volume of 6,120,039. The firm has a market capitalization of $11.88 billion, a price-to-earnings ratio of 8.13 and a beta of 1.42. Western Digital Co. has a twelve month low of $34.01 and a twelve month high of $81.55. The business's fifty day moving average price is $53.44 and its 200-day moving average price is $61.74. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99.

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Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 EPS for the quarter, missing analysts' consensus estimates of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. On average, research analysts predict that Western Digital Co. will post 4.89 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on WDC. The Goldman Sachs Group increased their price objective on Western Digital from $70.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. UBS Group lowered their price target on shares of Western Digital from $74.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Robert W. Baird cut their price objective on shares of Western Digital from $100.00 to $80.00 and set an "outperform" rating for the company in a report on Thursday, January 30th. Benchmark cut shares of Western Digital from a "buy" rating to a "hold" rating and set a $70.00 target price on the stock. in a report on Thursday, December 19th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Western Digital has an average rating of "Moderate Buy" and an average price target of $80.21.

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 $1,810,575.36. This trade represents a 3.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.30% of the company's stock.

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.