Mountain Hill Investment Partners Corp. Makes New Investment in Western Digital Co. (NASDAQ:WDC)

Mountain Hill Investment Partners Corp. purchased a new stake in shares of Western Digital Co. (NASDAQ:WDC) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 80,341 shares of the data storage provider’s stock, valued at approximately $4,791,000. Western Digital comprises about 4.9% of Mountain Hill Investment Partners Corp.’s investment portfolio, making the stock its 11th biggest holding.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Western Digital by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 42,459,767 shares of the data storage provider’s stock worth $2,531,876,000 after purchasing an additional 1,439,149 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Western Digital in the fourth quarter worth about $7,366,000. AXQ Capital LP bought a new position in shares of Western Digital in the fourth quarter worth about $1,507,000. Mizuho Securities USA LLC lifted its position in shares of Western Digital by 54.7% during the 4th quarter. Mizuho Securities USA LLC now owns 32,765 shares of the data storage provider’s stock valued at $1,954,000 after buying an additional 11,592 shares in the last quarter. Finally, Virtu Financial LLC grew its stake in shares of Western Digital by 158.9% during the 4th quarter. Virtu Financial LLC now owns 34,451 shares of the data storage provider’s stock valued at $2,054,000 after acquiring an additional 21,143 shares during the period. Institutional investors own 92.51% of the company’s stock.

Insider Buying and Selling at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 43,776 shares in the company, valued at $1,810,575.36. The trade was a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.30% of the company’s stock.

Western Digital Trading Down 1.9 %

WDC opened at $43.66 on Monday. The stock has a 50-day moving average of $57.80 and a 200 day moving average of $63.11. 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 12 month low of $39.42 and a 12 month high of $81.55. The firm has a market cap of $15.19 billion, a P/E ratio of 10.40 and a beta of 1.42.

Western Digital (NASDAQ:WDC) last announced its earnings results 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%. As a group, research analysts forecast that Western Digital Co. will post 4.89 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on WDC. Robert W. Baird lowered their price target on shares of Western Digital from $100.00 to $80.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. Mizuho lowered their target price on shares of Western Digital from $90.00 to $82.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Wedbush reiterated an “outperform” rating and issued a $95.00 price target on shares of Western Digital in a research note on Monday, February 10th. Citigroup boosted their price objective on Western Digital from $60.45 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Finally, Wells Fargo & Company cut their target price on Western Digital from $85.00 to $75.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.21.

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.