Renaissance Technologies LLC decreased its position in Western Digital Co. (NASDAQ:WDC - Free Report) by 25.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 912,133 shares of the data storage provider's stock after selling 306,100 shares during the period. Renaissance Technologies LLC owned about 0.26% of Western Digital worth $54,390,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the company. FIL Ltd boosted its position in shares of Western Digital by 2.4% in the fourth quarter. FIL Ltd now owns 2,202,627 shares of the data storage provider's stock valued at $131,343,000 after acquiring an additional 50,756 shares during the period. Polymer Capital Management US LLC bought a new stake in Western Digital in the 4th quarter worth approximately $5,711,000. Polymer Capital Management HK LTD purchased a new position in Western Digital in the 4th quarter worth $2,030,000. Wedbush Securities Inc. lifted its stake in Western Digital by 0.8% in the fourth quarter. Wedbush Securities Inc. now owns 32,879 shares of the data storage provider's stock worth $1,961,000 after purchasing an additional 261 shares during the last quarter. Finally, Aviva PLC boosted its position in Western Digital by 153.8% during the fourth quarter. Aviva PLC now owns 206,685 shares of the data storage provider's stock valued at $12,325,000 after buying an additional 125,251 shares during the period. 92.51% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. Rosenblatt Securities lowered their target price on Western Digital from $115.00 to $95.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Morgan Stanley dropped their price objective on Western Digital from $100.00 to $93.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. Citigroup decreased their target price on shares of Western Digital from $64.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday. Barclays dropped their price target on shares of 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, Benchmark raised shares of Western Digital from a "hold" rating to a "buy" rating and set a $55.00 price objective for the company in a research note on Thursday, April 10th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $76.16.
Check Out Our Latest Stock Analysis on Western Digital
Insider Buying and Selling at Western Digital
In other news, SVP Gene M. Zamiska sold 1,659 shares of the business'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 sale, the senior vice president now owns 43,776 shares of the company's stock, valued at $1,810,575.36. The trade was a 3.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.30% of the stock is owned by corporate insiders.
Western Digital Stock Up 0.9 %
NASDAQ WDC traded up $0.33 during mid-day trading on Tuesday, reaching $36.15. The stock had a trading volume of 1,733,714 shares, compared to its average volume of 6,326,456. The company has a fifty day moving average price of $47.86 and a 200 day moving average price of $59.63. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26. Western Digital Co. has a 1 year low of $28.83 and a 1 year high of $81.55. The stock has a market cap of $12.57 billion, a PE ratio of 8.61 and a beta of 1.39.
Western Digital (NASDAQ:WDC - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 EPS for the quarter, missing the consensus estimate 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, research analysts expect that Western Digital Co. will post 4.89 earnings per share for the current year.
Western Digital Company Profile
(
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.
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