Western Digital Co. (NASDAQ:WDC) Shares Acquired by Corebridge Financial Inc.

Corebridge Financial Inc. grew its stake in Western Digital Co. (NASDAQ:WDC - Free Report) by 20.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 156,247 shares of the data storage provider's stock after acquiring an additional 27,017 shares during the period. Corebridge Financial Inc.'s holdings in Western Digital were worth $9,317,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in WDC. AMF Tjanstepension AB acquired a new position in Western Digital in the 4th quarter valued at about $94,181,000. Vanguard Group Inc. boosted its stake in shares of Western Digital by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 42,459,767 shares of the data storage provider's stock valued at $2,531,876,000 after purchasing an additional 1,439,149 shares during the period. Sachem Head Capital Management LP grew its holdings in shares of Western Digital by 75.2% in the third quarter. Sachem Head Capital Management LP now owns 2,030,000 shares of the data storage provider's stock valued at $138,629,000 after purchasing an additional 871,500 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Western Digital by 24.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,711,428 shares of the data storage provider's stock worth $253,453,000 after buying an additional 732,344 shares during the period. Finally, Holocene Advisors LP lifted its holdings in Western Digital by 25.7% during the 3rd quarter. Holocene Advisors LP now owns 3,192,762 shares of the data storage provider's stock worth $218,034,000 after buying an additional 651,847 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of the company's stock in a transaction 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 transaction, the senior vice president now owns 43,776 shares in the company, valued at approximately $1,810,575.36. This represents a 3.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.30% of the company's stock.

Western Digital Stock Performance

NASDAQ WDC traded up $0.46 on Tuesday, reaching $40.89. The stock had a trading volume of 5,291,325 shares, compared to its average volume of 6,085,189. The stock has a market cap of $14.22 billion, a P/E ratio of 9.74 and a beta of 1.42. Western Digital Co. has a 12-month low of $39.10 and a 12-month high of $81.55. The business's 50-day moving average price is $54.67 and its 200 day moving average price is $62.08. 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 results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share 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%. As a group, equities analysts expect that Western Digital Co. will post 4.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wells Fargo & Company cut their price objective on Western Digital from $85.00 to $75.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 25th. Morgan Stanley cut their price target on Western Digital from $100.00 to $93.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Susquehanna decreased their price objective on Western Digital from $83.00 to $72.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. Barclays lowered their price objective on Western Digital from $90.00 to $80.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Finally, Mizuho reduced their target price on shares of Western Digital from $90.00 to $82.00 and set an "outperform" rating on the stock in a report on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Western Digital currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.21.

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.