KBC Group NV Has $16.70 Million Stake in Western Digital Co. (NASDAQ:WDC)

KBC Group NV grew its position in Western Digital Co. (NASDAQ:WDC) by 1.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 280,116 shares of the data storage provider’s stock after buying an additional 3,106 shares during the quarter. KBC Group NV’s holdings in Western Digital were worth $16,703,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in WDC. State Street Corp boosted its stake in Western Digital by 3.2% in the third 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 in the last quarter. Geode Capital Management LLC lifted its stake in Western Digital by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 7,921,608 shares of the data storage provider’s stock valued at $539,355,000 after purchasing an additional 76,781 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 buying an additional 732,344 shares in the last quarter. Maple Rock Capital Partners Inc. grew its stake in shares of Western Digital by 13.2% during the third quarter. Maple Rock Capital Partners Inc. now owns 3,287,400 shares of the data storage provider’s stock worth $224,497,000 after buying an additional 383,390 shares during the last quarter. Finally, Holocene Advisors LP lifted its stake in shares of Western Digital by 25.7% in the 3rd quarter. Holocene Advisors LP now owns 3,192,762 shares of the data storage provider’s stock valued at $218,034,000 after acquiring an additional 651,847 shares during the last quarter. Institutional investors own 92.51% of the company’s stock.

Analyst Ratings Changes

WDC has been the topic of several research reports. BNP Paribas reduced their price target on Western Digital from $95.00 to $90.00 in a report on Thursday, October 24th. Rosenblatt Securities reiterated a “buy” rating and set a $115.00 price target on shares of Western Digital in a report on Friday, October 25th. Barclays reduced their price target on Western Digital from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Bank of America lowered their price objective on Western Digital from $89.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group reduced their target price on Western Digital from $81.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.74.

Western Digital Stock Performance

Shares of WDC opened at $62.87 on Wednesday. Western Digital Co. has a 52 week low of $52.77 and a 52 week high of $81.55. The company has a quick ratio of 0.91, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The stock has a market cap of $21.73 billion, a price-to-earnings ratio of 36.98 and a beta of 1.43. The business has a 50-day simple moving average of $65.72 and a two-hundred day simple moving average of $65.64.

Insider Activity

In related news, SVP Gene M. Zamiska sold 658 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total transaction of $46,053.42. Following the completion of the transaction, the senior vice president now directly owns 28,863 shares of the company’s stock, valued at approximately $2,020,121.37. This represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 1,347 shares of company stock worth $93,027 over the last ninety days. Corporate 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.