Chevy Chase Trust Holdings LLC Has $10.82 Million Position in Western Digital Co. (NASDAQ:WDC)

Chevy Chase Trust Holdings LLC boosted its position in shares of Western Digital Co. (NASDAQ:WDC) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 181,411 shares of the data storage provider’s stock after purchasing an additional 6,331 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Western Digital worth $10,818,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. lifted its stake in Western Digital by 5.4% in the third quarter. First Horizon Advisors Inc. now owns 2,929 shares of the data storage provider’s stock valued at $200,000 after buying an additional 149 shares in the last quarter. Mather Group LLC. lifted its stake in Western Digital by 7.0% in the fourth quarter. Mather Group LLC. now owns 2,416 shares of the data storage provider’s stock valued at $144,000 after buying an additional 159 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in Western Digital by 1.4% in the fourth quarter. Vontobel Holding Ltd. now owns 11,804 shares of the data storage provider’s stock valued at $704,000 after buying an additional 164 shares in the last quarter. Quarry LP lifted its stake in Western Digital by 22.6% in the third quarter. Quarry LP now owns 932 shares of the data storage provider’s stock valued at $64,000 after buying an additional 172 shares in the last quarter. Finally, Inspire Investing LLC lifted its stake in Western Digital by 4.3% in the fourth quarter. Inspire Investing LLC now owns 4,324 shares of the data storage provider’s stock valued at $258,000 after buying an additional 177 shares in the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insider Activity at Western Digital

In related news, SVP Gene M. Zamiska sold 658 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total value of $46,053.42. Following the transaction, the senior vice president now directly owns 28,863 shares in the company, valued at approximately $2,020,121.37. This represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 1,347 shares of company stock worth $93,027. Corporate insiders own 0.30% of the company’s stock.

Western Digital Price Performance

NASDAQ:WDC opened at $68.39 on Monday. Western Digital Co. has a one year low of $52.77 and a one year high of $81.55. The company has a market cap of $23.79 billion, a P/E ratio of 16.28 and a beta of 1.44. The firm’s fifty day moving average price is $64.55 and its two-hundred day moving average price is $65.21. 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 (NASDAQ:WDC) 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%. Equities analysts expect that Western Digital Co. will post 4.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WDC shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $95.00 price target on shares of Western Digital in a research note on Monday, February 10th. Wedbush reissued an “outperform” rating and issued a $95.00 price objective on shares of Western Digital in a research report on Monday, February 10th. Mizuho cut their price objective 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. Rosenblatt Securities cut their price objective on shares of Western Digital from $115.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, Susquehanna cut their price objective on shares of Western Digital from $83.00 to $72.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Western Digital currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.42.

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.