Charles Schwab Investment Management Inc. Has $141.76 Million Stake in Western Digital Co. (NASDAQ:WDC)

Charles Schwab Investment Management Inc. raised its stake in shares of Western Digital Co. (NASDAQ:WDC) by 5.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,377,361 shares of the data storage provider’s stock after purchasing an additional 119,168 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.69% of Western Digital worth $141,762,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in WDC. Versant Capital Management Inc boosted its stake in Western Digital by 278.9% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock valued at $25,000 after purchasing an additional 304 shares during the last quarter. Sierra Ocean LLC acquired a new position in Western Digital during the 4th quarter valued at about $29,000. True Wealth Design LLC boosted its stake in Western Digital by 2,184.2% during the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock valued at $30,000 after purchasing an additional 415 shares during the last quarter. Comprehensive Financial Planning Inc. PA bought a new position in shares of Western Digital during the 4th quarter worth approximately $30,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Western Digital during the 3rd quarter worth approximately $41,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Western Digital Stock Up 0.6 %

WDC opened at $41.70 on Friday. The company has a fifty day moving average price of $62.03 and a 200-day moving average price of $64.70. The firm has a market capitalization of $14.50 billion, a P/E ratio of 9.93 and a beta of 1.42. 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 one year low of $39.58 and a one year high of $61.16.

Western Digital (NASDAQ:WDC) 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%. Equities research analysts expect that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on WDC shares. Wedbush reissued an “outperform” rating and set a $95.00 target price on shares of Western Digital in a research report on Monday, February 10th. Bank of America dropped their target price on shares of Western Digital from $89.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Mizuho dropped 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 report on Friday, January 3rd. StockNews.com started coverage on shares of Western Digital in a research report on Wednesday, February 26th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company dropped their target price on shares of Western Digital from $85.00 to $75.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Western Digital has an average rating of “Moderate Buy” and a consensus target price of $81.47.

Western Digital Company 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.