Western Digital Co. (NASDAQ:WDC) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its position in Western Digital Co. (NASDAQ:WDC) by 53.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 99,444 shares of the data storage provider’s stock after buying an additional 34,579 shares during the quarter. Handelsbanken Fonder AB’s holdings in Western Digital were worth $5,930,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of WDC. Sachem Head Capital Management LP grew its stake in shares of Western Digital by 75.2% during the 3rd quarter. Sachem Head Capital Management LP now owns 2,030,000 shares of the data storage provider’s stock worth $138,629,000 after purchasing an additional 871,500 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Western Digital by 24.6% during the 3rd 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 worth $253,453,000 after purchasing an additional 732,344 shares during the period. Holocene Advisors LP grew its stake in shares of Western Digital by 25.7% during the 3rd quarter. Holocene Advisors LP now owns 3,192,762 shares of the data storage provider’s stock worth $218,034,000 after purchasing an additional 651,847 shares during the period. State Street Corp grew 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 worth $926,879,000 after purchasing an additional 423,651 shares during the period. Finally, Maple Rock Capital Partners Inc. grew its stake in shares of 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 worth $224,497,000 after purchasing an additional 383,390 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.

Western Digital Price Performance

Western Digital stock opened at $68.71 on Friday. Western Digital Co. has a 12-month low of $52.77 and a 12-month high of $81.55. The stock has a market capitalization of $23.90 billion, a P/E ratio of 16.36 and a beta of 1.44. The firm’s 50-day moving average is $64.78 and its two-hundred day moving average is $65.59. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26.

Western Digital (NASDAQ:WDC) last released its earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. Equities analysts predict that Western Digital Co. will post 4.89 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Gene M. Zamiska sold 658 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total value of $46,053.42. Following the sale, the senior vice president now directly owns 28,863 shares of the company’s stock, valued at approximately $2,020,121.37. This trade represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on WDC shares. Susquehanna lowered their price target on shares of Western Digital from $83.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. StockNews.com started coverage on shares of Western Digital in a research note on Tuesday, February 18th. They set a “hold” rating on the stock. Mizuho lowered their price objective 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. Bank of America lowered their price objective on shares of Western Digital from $89.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, Wedbush reissued an “outperform” rating and issued a $95.00 price objective on shares of Western Digital in a research note on Monday, February 10th. Seven equities research 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.42.

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.