95,777 Shares in Western Digital Co. (NASDAQ:WDC) Acquired by Polymer Capital Management US LLC

Polymer Capital Management US LLC bought a new stake in shares of Western Digital Co. (NASDAQ:WDC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 95,777 shares of the data storage provider’s stock, valued at approximately $5,711,000. Western Digital accounts for about 1.5% of Polymer Capital Management US LLC’s portfolio, making the stock its 12th biggest holding.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Western Digital by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 42,459,767 shares of the data storage provider’s stock worth $2,531,876,000 after acquiring an additional 1,439,149 shares during the period. State Street Corp raised its position in shares of Western Digital by 3.2% in the third quarter. State Street Corp now owns 13,572,686 shares of the data storage provider’s stock worth $926,879,000 after buying an additional 423,651 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Western Digital by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 8,745,264 shares of the data storage provider’s stock worth $520,450,000 after buying an additional 823,656 shares in the last quarter. Norges Bank bought a new stake in Western Digital during the fourth quarter valued at $352,572,000. Finally, Parnassus Investments LLC grew its position in Western Digital by 24.5% during the fourth quarter. Parnassus Investments LLC now owns 2,980,047 shares of the data storage provider’s stock worth $177,700,000 after buying an additional 586,924 shares in the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WDC shares. Wedbush reiterated an “outperform” rating and set a $95.00 price target on shares of Western Digital in a research report on Monday, February 10th. Benchmark downgraded shares of Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price objective for the company. in a report on Thursday, December 19th. Susquehanna lowered their price target on Western Digital from $83.00 to $72.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Barclays dropped their price target 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. Finally, UBS Group decreased their price objective on Western Digital from $74.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Western Digital has an average rating of “Moderate Buy” and an average price target of $80.21.

Insider Buying and Selling at Western Digital

In other news, SVP Gene M. Zamiska sold 1,659 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now owns 43,776 shares of the company’s stock, valued at approximately $1,810,575.36. This represents a 3.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.30% of the company’s stock.

Western Digital Price Performance

WDC stock opened at $30.54 on Monday. 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 firm’s 50-day moving average price is $52.70 and its two-hundred day moving average price is $61.46. The stock has a market capitalization of $10.62 billion, a price-to-earnings ratio of 7.27 and a beta of 1.39. Western Digital Co. has a 12-month low of $29.43 and a 12-month high of $81.55.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates 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, equities analysts predict that Western Digital Co. will post 4.89 earnings per share for the current 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.