Western Digital Co. (NASDAQ:WDC) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA trimmed its holdings in shares of Western Digital Co. (NASDAQ:WDC) by 0.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,158,615 shares of the data storage provider’s stock after selling 2,820 shares during the quarter. Primecap Management Co. CA owned 0.33% of Western Digital worth $69,088,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp grew its position in Western Digital by 3.2% in the 3rd quarter. State Street Corp now owns 13,572,686 shares of the data storage provider’s stock valued at $926,879,000 after acquiring an additional 423,651 shares in the last quarter. Geode Capital Management LLC grew its position 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 acquiring an additional 76,781 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Western Digital by 24.6% in 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 valued at $253,453,000 after acquiring an additional 732,344 shares in the last quarter. Maple Rock Capital Partners Inc. grew its position in Western Digital by 13.2% in the 3rd quarter. Maple Rock Capital Partners Inc. now owns 3,287,400 shares of the data storage provider’s stock valued at $224,497,000 after acquiring an additional 383,390 shares in the last quarter. Finally, Holocene Advisors LP grew its position in 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 in the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WDC. Benchmark downgraded Western Digital from a “buy” rating to a “hold” rating and set a $70.00 target price for the company. in a research report on Thursday, December 19th. StockNews.com began coverage on Western Digital in a research note on Wednesday, February 26th. They issued a “buy” rating for the company. Citigroup lifted their price objective on Western Digital from $60.45 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Susquehanna decreased their price objective on Western Digital from $83.00 to $72.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Finally, Bank of America decreased their price objective on Western Digital from $89.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.21.

Western Digital Price Performance

Shares of NASDAQ WDC opened at $44.34 on Wednesday. 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 twelve month low of $39.42 and a twelve month high of $81.55. The stock has a 50 day moving average of $58.96 and a two-hundred day moving average of $63.52. The stock has a market cap of $15.42 billion, a P/E ratio of 10.56 and a beta of 1.42.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share 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 forecast that Western Digital Co. will post 4.89 earnings per share for the current year.

Insider Buying and Selling at Western Digital

In other 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 value of $68,616.24. Following the transaction, the senior vice president now owns 43,776 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this hyperlink. 0.30% of the stock is owned by company insiders.

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.