J. Safra Sarasin Holding AG lessened its stake in Western Digital Co. (NASDAQ:WDC - Free Report) by 32.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,274 shares of the data storage provider's stock after selling 11,051 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Western Digital were worth $1,388,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of WDC. Versant Capital Management Inc lifted its position in shares of 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 buying an additional 304 shares during the last quarter. Sierra Ocean LLC bought a new position in Western Digital in the fourth quarter worth about $29,000. Comprehensive Financial Planning Inc. PA acquired a new position in 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 valued at approximately $36,000. Finally, S.A. Mason LLC bought a new stake in shares of Western Digital in the 4th quarter worth approximately $45,000. Institutional investors own 92.51% of the company's stock.
Wall Street Analysts Forecast Growth
WDC has been the topic of several analyst reports. UBS Group dropped their target price on Western Digital from $74.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Wells Fargo & Company reissued a "neutral" rating on shares of Western Digital in a research note on Friday, April 11th. The Goldman Sachs Group raised their price target on Western Digital from $70.00 to $80.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Morgan Stanley assumed coverage on shares of Western Digital in a research report on Wednesday, April 16th. They issued an "overweight" rating and a $46.00 target price for the company. Finally, Citigroup dropped their price target on shares of Western Digital from $64.00 to $48.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $73.68.
Check Out Our Latest Stock Report on Western Digital
Insider Activity
In related 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 directly owns 43,776 shares in the company, valued at approximately $1,810,575.36. This trade represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.30% of the stock is currently owned by corporate insiders.
Western Digital Trading Up 2.0 %
Shares of WDC opened at $36.68 on Wednesday. The business's 50-day moving average price is $44.17 and its 200 day moving average price is $58.40. 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 stock has a market capitalization of $12.76 billion, a P/E ratio of 8.73 and a beta of 1.39. Western Digital Co. has a 1-year low of $28.83 and a 1-year high of $81.55.
Western Digital (NASDAQ:WDC - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (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%. Analysts expect that Western Digital Co. will post 4.89 earnings per share for the current year.
Western Digital Company Profile
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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.
Further Reading
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