Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 15,200 Shares of Western Digital Corporation $WDC

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Western Digital Corporation (NASDAQ:WDC) by 41.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,166 shares of the data storage provider’s stock after buying an additional 15,200 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Western Digital were worth $3,338,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in WDC. Alyeska Investment Group L.P. increased its holdings in Western Digital by 130.0% during the 1st quarter. Alyeska Investment Group L.P. now owns 5,029,359 shares of the data storage provider’s stock worth $203,337,000 after purchasing an additional 2,842,822 shares in the last quarter. Deutsche Bank AG increased its holdings in Western Digital by 107.1% during the 1st quarter. Deutsche Bank AG now owns 3,369,331 shares of the data storage provider’s stock worth $136,222,000 after purchasing an additional 1,742,481 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Western Digital during the 1st quarter worth about $50,897,000. Westfield Capital Management Co. LP bought a new position in Western Digital during the 1st quarter worth about $35,406,000. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in Western Digital in the 1st quarter valued at approximately $22,849,000. Institutional investors own 92.51% of the company’s stock.

Western Digital Price Performance

Shares of NASDAQ WDC opened at $138.13 on Friday. The stock has a market capitalization of $47.35 billion, a price-to-earnings ratio of 26.82, a PEG ratio of 1.14 and a beta of 1.77. The business has a 50-day moving average of $108.73 and a 200-day moving average of $75.75. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.08 and a quick ratio of 0.84. Western Digital Corporation has a fifty-two week low of $28.83 and a fifty-two week high of $145.68.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Monday, April 7th. The data storage provider reported $1.78 earnings per share for the quarter. Western Digital had a return on equity of 24.93% and a net margin of 14.13%.The company had revenue of $4.10 billion during the quarter. As a group, sell-side analysts predict that Western Digital Corporation will post 4.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on WDC shares. Mizuho boosted their target price on Western Digital from $120.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. TD Cowen boosted their target price on Western Digital from $58.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. The Goldman Sachs Group boosted their target price on Western Digital from $78.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Morgan Stanley boosted their target price on Western Digital from $92.00 to $99.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Finally, Benchmark raised their price objective on Western Digital from $85.00 to $115.00 and gave the company a “buy” rating in a report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Western Digital presently has an average rating of “Moderate Buy” and an average target price of $109.84.

Insider Activity

In related news, CEO Irving Tan sold 8,621 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $75.90, for a total transaction of $654,333.90. Following the transaction, the chief executive officer directly owned 594,836 shares of the company’s stock, valued at approximately $45,148,052.40. The trade was a 1.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vidyadhara K. Gubbi sold 11,343 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $90.29, for a total value of $1,024,159.47. Following the transaction, the insider directly owned 151,596 shares in the company, valued at $13,687,602.84. The trade was a 6.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 49,730 shares of company stock valued at $3,921,594. Company insiders own 0.18% 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.