Charles Schwab Investment Management Inc. Boosts Holdings in Western Digital Co. (NASDAQ:WDC)

Charles Schwab Investment Management Inc. increased its holdings in Western Digital Co. (NASDAQ:WDC) by 5.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,377,361 shares of the data storage provider’s stock after acquiring an additional 119,168 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Western Digital were worth $141,762,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in WDC. Versant Capital Management Inc boosted its position in Western Digital by 278.9% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock valued at $25,000 after buying an additional 304 shares during the period. Sierra Ocean LLC bought a new stake in shares of Western Digital in the 4th quarter valued at about $29,000. True Wealth Design LLC boosted its holdings 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 acquiring an additional 415 shares during the period. Comprehensive Financial Planning Inc. PA purchased a new stake in Western Digital during the 4th quarter valued at about $30,000. Finally, Capital Performance Advisors LLP bought a new position in Western Digital during the 3rd quarter worth approximately $41,000. Institutional investors own 92.51% of the company’s stock.

Western Digital Stock Up 0.6 %

Shares of NASDAQ:WDC opened at $41.70 on Friday. The stock has a fifty day simple moving average of $62.03 and a two-hundred day simple moving average of $64.70. The stock has a market capitalization of $14.50 billion, a price-to-earnings ratio of 9.93 and a beta of 1.42. Western Digital Co. has a 12-month low of $39.58 and a 12-month high of $61.16. 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 (NASDAQ:WDC) last posted its quarterly earnings results 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 anticipate that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on WDC shares. Benchmark lowered Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price target on the stock. in a research report on Thursday, December 19th. UBS Group raised their price target on Western Digital from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Citigroup raised their price target on Western Digital from $60.45 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Barclays reduced their price target on Western Digital from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, Mizuho reduced their price target on Western Digital from $90.00 to $82.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $81.47.

Western Digital 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.