Western Digital Co. (NASDAQ:WDC) Shares Sold by Andra AP fonden

Andra AP fonden trimmed its stake in Western Digital Co. (NASDAQ:WDC) by 87.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 quarter.

Other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc raised its holdings in shares of Western Digital by 278.9% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock worth $25,000 after acquiring an additional 304 shares during the last quarter. Sierra Ocean LLC acquired a new position in shares of Western Digital in the fourth quarter worth $29,000. True Wealth Design LLC increased its stake in Western Digital by 2,184.2% in the third 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 acquired a new position in Western Digital in the fourth quarter valued at $30,000. Finally, Capital Performance Advisors LLP acquired a new position in Western Digital in the third quarter valued at $41,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Western Digital Trading Up 0.6 %

Shares of NASDAQ WDC opened at $41.70 on Monday. The stock’s 50 day moving average price is $61.65 and its two-hundred day moving average price is $64.53. Western Digital Co. has a 52-week low of $39.58 and a 52-week high of $61.16. The stock 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 quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (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, analysts anticipate that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wells Fargo & Company dropped their target price on Western Digital from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Bank of America dropped their target price on Western Digital from $89.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Benchmark lowered Western Digital from a “buy” rating to a “hold” rating and set a $70.00 target price for the company. in a research note on Thursday, December 19th. Morgan Stanley dropped their target price 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. Finally, Rosenblatt Securities dropped 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. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.