Andra AP fonden Sells 179,200 Shares of Western Digital Co. (NASDAQ:WDC)

Andra AP fonden lessened its stake in shares of Western Digital Co. (NASDAQ:WDC - Free Report) by 87.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,400 shares of the data storage provider's stock after selling 179,200 shares during the quarter. Andra AP fonden's holdings in Western Digital were worth $1,574,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Western Digital by 32.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,131 shares of the data storage provider's stock worth $2,691,000 after buying an additional 11,013 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Western Digital by 6.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 841,700 shares of the data storage provider's stock worth $50,191,000 after acquiring an additional 50,188 shares during the period. Principal Financial Group Inc. lifted its holdings in Western Digital by 4.0% in the 4th quarter. Principal Financial Group Inc. now owns 390,826 shares of the data storage provider's stock valued at $23,305,000 after acquiring an additional 15,189 shares during the last quarter. Ieq Capital LLC lifted its holdings in Western Digital by 83.9% in the 4th quarter. Ieq Capital LLC now owns 31,634 shares of the data storage provider's stock valued at $1,886,000 after acquiring an additional 14,432 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its position in shares of Western Digital by 53.3% during the 4th quarter. Handelsbanken Fonder AB now owns 99,444 shares of the data storage provider's stock valued at $5,930,000 after purchasing an additional 34,579 shares in the last quarter. Institutional investors own 92.51% of the company's stock.

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Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group raised their price objective on Western Digital from $70.00 to $80.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. UBS Group boosted their price target on shares of Western Digital from $70.00 to $74.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Cantor Fitzgerald decreased their price objective on shares of Western Digital from $95.00 to $65.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. Mizuho cut their target price on shares of Western Digital from $90.00 to $82.00 and set an "outperform" rating on the stock in a research note on Friday, January 3rd. Finally, Bank of America lowered their price target on Western Digital from $89.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $81.47.

Insider Buying and Selling

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

Western Digital Stock Down 2.2 %

Shares of NASDAQ WDC traded down $0.93 during mid-day trading on Thursday, reaching $42.03. 5,471,375 shares of the company traded hands, compared to its average volume of 9,232,403. The company's fifty day moving average is $60.58 and its two-hundred day moving average is $64.06. Western Digital Co. has a fifty-two week low of $39.42 and a fifty-two week high of $61.16. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99. The stock has a market cap of $14.62 billion, a PE ratio of 10.01 and a beta of 1.42.

Western Digital (NASDAQ:WDC - Get Free Report) last released its quarterly earnings results 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 net margin of 9.95% and a return on equity of 15.68%. On average, analysts expect that Western Digital Co. will post 4.89 earnings per share for the current year.

About Western Digital

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.