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

Andra AP fonden reduced its holdings in Western Digital Co. (NASDAQ:WDC) by 87.2% during the 4th quarter, Holdings Channel reports. 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in Western Digital by 32.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,131 shares of the data storage provider’s stock valued at $2,691,000 after purchasing an additional 11,013 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Western Digital by 6.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 841,700 shares of the data storage provider’s stock valued at $50,191,000 after purchasing an additional 50,188 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Western Digital by 4.0% during the 4th quarter. Principal Financial Group Inc. now owns 390,826 shares of the data storage provider’s stock valued at $23,305,000 after purchasing an additional 15,189 shares in the last quarter. Ieq Capital LLC boosted its stake in Western Digital by 83.9% during the 4th quarter. Ieq Capital LLC now owns 31,634 shares of the data storage provider’s stock valued at $1,886,000 after purchasing an additional 14,432 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Western Digital by 53.3% during the 4th quarter. Handelsbanken Fonder AB now owns 99,444 shares of the data storage provider’s stock valued at $5,930,000 after purchasing an additional 34,579 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Stock Performance

Shares of WDC stock opened at $41.70 on Monday. Western Digital Co. has a 1-year low of $39.58 and a 1-year 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. The company has a market capitalization of $14.50 billion, a price-to-earnings ratio of 9.93 and a beta of 1.42. The stock’s fifty day simple moving average is $61.65 and its 200-day simple moving average is $64.53.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results 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 net margin of 9.95% and a return on equity of 15.68%. On average, sell-side analysts predict that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WDC has been the subject of a number of research reports. Citigroup increased their price target on Western Digital from $60.45 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Susquehanna decreased their price target on Western Digital from $83.00 to $72.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. UBS Group increased their price target on Western Digital from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Robert W. Baird reduced their price objective on Western Digital from $100.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group raised their price objective on Western Digital from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.