Sumitomo Life Insurance Co. lessened its stake in Western Digital Co. (NASDAQ:WDC – Free Report) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,909 shares of the data storage provider’s stock after selling 195 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Western Digital were worth $293,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. KBC Group NV increased its stake in shares of Western Digital by 1.1% in the fourth quarter. KBC Group NV now owns 280,116 shares of the data storage provider’s stock worth $16,703,000 after acquiring an additional 3,106 shares during the last quarter. Blue Trust Inc. grew its stake in Western Digital by 78.5% in the fourth quarter. Blue Trust Inc. now owns 1,460 shares of the data storage provider’s stock valued at $87,000 after purchasing an additional 642 shares in the last quarter. Fifth Third Bancorp increased its position in Western Digital by 7.4% in the 4th quarter. Fifth Third Bancorp now owns 13,269 shares of the data storage provider’s stock worth $791,000 after purchasing an additional 917 shares during the last quarter. Sound Income Strategies LLC raised its stake in shares of Western Digital by 13.2% during the 4th quarter. Sound Income Strategies LLC now owns 75,874 shares of the data storage provider’s stock worth $4,524,000 after purchasing an additional 8,856 shares in the last quarter. Finally, Inspire Investing LLC lifted its holdings in shares of Western Digital by 4.3% during the 4th 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 during the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.
Western Digital Trading Up 4.7 %
Western Digital stock opened at $65.78 on Friday. The business has a 50 day moving average price of $65.70 and a two-hundred day moving average price of $65.62. The company has a quick ratio of 0.91, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. Western Digital Co. has a 12 month low of $52.77 and a 12 month high of $81.55. The stock has a market cap of $22.74 billion, a price-to-earnings ratio of 38.69 and a beta of 1.43.
Insider Activity
In related news, SVP Gene M. Zamiska sold 658 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total value of $46,053.42. Following the sale, the senior vice president now owns 28,863 shares of the company’s stock, valued at $2,020,121.37. The trade was a 2.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In 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.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the company. Citigroup dropped their price objective on Western Digital from $82.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday. Susquehanna cut their price target on shares of Western Digital from $83.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday. Rosenblatt Securities decreased their price objective on shares of Western Digital from $115.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday. Benchmark lowered Western Digital from a “buy” rating to a “hold” rating and set a $70.00 target price on the stock. in a report on Thursday, December 19th. Finally, The Goldman Sachs Group decreased their price target on Western Digital from $81.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Western Digital has an average rating of “Moderate Buy” and an average target price of $83.68.
Check Out Our Latest Analysis on Western Digital
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.
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