Dana Investment Advisors Inc. Lowers Stock Holdings in Western Digital Co. (NASDAQ:WDC)

Dana Investment Advisors Inc. decreased its stake in Western Digital Co. (NASDAQ:WDC - Free Report) by 11.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,326 shares of the data storage provider's stock after selling 6,301 shares during the quarter. Dana Investment Advisors Inc.'s holdings in Western Digital were worth $2,882,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WDC. State Street Corp boosted its position in Western Digital by 3.2% during the third quarter. State Street Corp now owns 13,572,686 shares of the data storage provider's stock worth $926,879,000 after acquiring an additional 423,651 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Western Digital by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 7,921,608 shares of the data storage provider's stock valued at $539,355,000 after buying an additional 76,781 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Western Digital by 24.6% in 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 valued at $253,453,000 after buying an additional 732,344 shares during the period. Maple Rock Capital Partners Inc. increased its holdings in shares of Western Digital by 13.2% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 3,287,400 shares of the data storage provider's stock worth $224,497,000 after buying an additional 383,390 shares during the last quarter. Finally, Holocene Advisors LP raised its position in shares of 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 valued at $218,034,000 after buying an additional 651,847 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several equities research analysts have issued reports on WDC shares. Barclays cut their target price on Western Digital from $90.00 to $80.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Wedbush restated an "outperform" rating and issued a $95.00 price objective on shares of Western Digital in a report on Monday, February 10th. StockNews.com started coverage on shares of Western Digital in a research report on Wednesday, February 26th. They issued a "buy" rating on the stock. Rosenblatt Securities dropped their price target on shares of Western Digital from $115.00 to $95.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Finally, Mizuho reduced their price target 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. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $81.47.

Insider Activity

In other news, SVP Gene M. Zamiska sold 1,659 shares of the business's stock in a transaction dated 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. The trade was a 3.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.30% of the company's stock.

Western Digital Stock Up 3.1 %

Shares of WDC stock traded up $1.26 on Tuesday, reaching $41.80. 9,283,608 shares of the stock were exchanged, compared to its average volume of 9,383,136. The business's 50 day moving average price is $61.27 and its 200 day moving average price is $64.37. The company has a market capitalization of $14.54 billion, a price-to-earnings ratio of 9.95 and a beta of 1.42. Western Digital Co. has a twelve month low of $39.42 and a twelve month high of $61.16. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share for the quarter, missing the consensus estimate 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, sell-side analysts expect that Western Digital Co. will post 4.89 earnings per share for the current fiscal 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.