Diametric Capital LP Has $1.97 Million Holdings in Western Digital Co. (NASDAQ:WDC)

Diametric Capital LP cut its holdings in Western Digital Co. (NASDAQ:WDC) by 11.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 33,016 shares of the data storage provider’s stock after selling 4,416 shares during the quarter. Western Digital comprises 1.3% of Diametric Capital LP’s portfolio, making the stock its 9th largest position. Diametric Capital LP’s holdings in Western Digital were worth $1,969,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of WDC. Versant Capital Management Inc raised its position in shares of Western Digital by 278.9% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock valued at $25,000 after acquiring an additional 304 shares during the period. True Wealth Design LLC increased its stake in Western Digital by 2,184.2% in the third quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock valued at $30,000 after purchasing an additional 415 shares in the last quarter. Sierra Ocean LLC acquired a new stake in Western Digital in the fourth quarter worth $29,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Western Digital during the fourth quarter worth $30,000. Finally, OFI Invest Asset Management acquired a new position in shares of Western Digital in the 4th quarter valued at $36,000. Institutional investors and hedge funds 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 company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $41.36, for a total value of $68,616.24. Following the transaction, the senior vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

WDC has been the topic of several research analyst reports. UBS Group dropped their price objective on Western Digital from $74.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Wells Fargo & Company dropped their price target on Western Digital from $85.00 to $75.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. 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. Wedbush restated an “outperform” rating and set a $95.00 target price on shares of Western Digital in a report on Monday, February 10th. Finally, Benchmark cut shares of Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price target for the company. in a report on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Western Digital has an average rating of “Moderate Buy” and a consensus price target of $80.21.

Western Digital Price Performance

NASDAQ:WDC opened at $40.43 on Tuesday. 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 firm has a fifty day simple moving average of $55.20 and a 200 day simple moving average of $62.25. Western Digital Co. has a 1-year low of $39.10 and a 1-year high of $81.55. The stock has a market capitalization of $14.06 billion, a PE ratio of 9.63 and a beta of 1.42.

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 net margin of 9.95% and a return on equity of 15.68%. On average, research analysts expect that Western Digital Co. will post 4.89 EPS for the current fiscal year.

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.