AMF Tjanstepension AB Takes Position in Western Digital Co. (NASDAQ:WDC)

AMF Tjanstepension AB purchased a new position 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 & Exchange Commission. The firm purchased 1,579,418 shares of the data storage provider’s stock, valued at approximately $94,181,000.

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

Analyst Ratings Changes

Several analysts have recently commented on WDC shares. Wells Fargo & Company reduced their target price on shares of Western Digital from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. UBS Group raised their price objective on shares of Western Digital from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Cantor Fitzgerald dropped their target price on Western Digital from $95.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday. Wedbush reissued an “outperform” rating and issued a $95.00 price target on shares of Western Digital in a report on Monday, February 10th. Finally, Morgan Stanley reduced their price target on shares of Western Digital from $100.00 to $93.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Six equities research 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $81.47.

Western Digital Stock Performance

NASDAQ WDC opened at $41.70 on Friday. The business’s 50-day moving average price is $62.03 and its 200 day moving average price is $64.70. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60. Western Digital Co. has a twelve month low of $39.58 and a twelve month high of $61.16. The company has a market capitalization of $14.50 billion, a PE ratio of 9.93 and a beta of 1.42.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. On average, research analysts predict that Western Digital Co. will post 4.89 earnings per share for the current year.

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.