Western Digital Co. (NASDAQ:WDC) Shares Bought by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lifted its position in shares of Western Digital Co. (NASDAQ:WDC) by 8.8% during the fourth quarter, HoldingsChannel reports. The firm owned 31,569 shares of the data storage provider’s stock after purchasing an additional 2,565 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Western Digital were worth $1,882,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in WDC. Vanguard Group Inc. grew its stake 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 valued at $2,531,876,000 after purchasing an additional 1,439,149 shares in the last quarter. State Street Corp boosted its stake in shares of Western Digital by 3.2% during the 3rd quarter. State Street Corp now owns 13,572,686 shares of the data storage provider’s stock valued at $926,879,000 after buying an additional 423,651 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Western Digital by 1.0% in the third quarter. Geode Capital Management LLC now owns 7,921,608 shares of the data storage provider’s stock worth $539,355,000 after buying an additional 76,781 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Western Digital by 24.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,711,428 shares of the data storage provider’s stock valued at $253,453,000 after acquiring an additional 732,344 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. boosted its stake in Western Digital by 13.2% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 3,287,400 shares of the data storage provider’s stock valued at $224,497,000 after acquiring an additional 383,390 shares during the last quarter. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WDC has been the subject of several research analyst reports. Bank of America dropped their target price on shares of Western Digital from $89.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Citigroup upped their price objective on Western Digital from $60.45 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Benchmark lowered Western Digital from a “buy” rating to a “hold” rating and set a $70.00 target price for the company. in a research report on Thursday, December 19th. Cantor Fitzgerald dropped their price target on Western Digital from $95.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Finally, Morgan Stanley decreased their price objective on shares of Western Digital from $100.00 to $93.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.21.

Western Digital Stock Performance

Shares of Western Digital stock opened at $40.62 on Friday. Western Digital Co. has a 12 month low of $39.42 and a 12 month high of $81.55. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. The stock has a market cap of $14.13 billion, a PE ratio of 9.67 and a beta of 1.42. The business has a fifty day simple moving average of $55.69 and a 200-day simple moving average of $62.41.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 EPS 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%. On average, sell-side analysts anticipate that Western Digital Co. will post 4.89 EPS for the current fiscal year.

Insider Buying and Selling at Western Digital

In related news, SVP Gene M. Zamiska sold 1,659 shares of Western Digital stock in a transaction on Friday, March 7th. The stock was sold at an average price of $41.36, for a total transaction of $68,616.24. Following the completion of the sale, the senior vice president now owns 43,776 shares of the company’s stock, valued at approximately $1,810,575.36. This trade represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.30% of the company’s stock.

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.