US Bancorp DE Sells 6,507 Shares of Western Digital Co. (NASDAQ:WDC)

US Bancorp DE trimmed its position in shares of Western Digital Co. (NASDAQ:WDC) by 8.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 74,810 shares of the data storage provider’s stock after selling 6,507 shares during the period. US Bancorp DE’s holdings in Western Digital were worth $4,461,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of WDC. Sachem Head Capital Management LP boosted its position in 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 valued at $138,629,000 after acquiring an additional 871,500 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of 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 worth $253,453,000 after purchasing an additional 732,344 shares in the last quarter. Holocene Advisors LP boosted its position 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 worth $218,034,000 after purchasing an additional 651,847 shares in the last quarter. State Street Corp boosted its position in shares of 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 worth $926,879,000 after purchasing an additional 423,651 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. boosted its position in shares of 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 worth $224,497,000 after purchasing an additional 383,390 shares in the last quarter. 92.51% of the stock is owned by institutional investors.

Western Digital Price Performance

Shares of WDC opened at $44.20 on Thursday. The company has a market cap of $15.37 billion, a price-to-earnings ratio of 10.52 and a beta of 1.42. Western Digital Co. has a twelve month low of $39.58 and a twelve month high of $61.16. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average of $62.79 and a two-hundred day moving average of $65.01.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WDC shares. Robert W. Baird dropped their price target on Western Digital from $100.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. 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. Mizuho decreased their price objective on shares of Western Digital from $90.00 to $82.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Citigroup boosted their price objective on shares of Western Digital from $60.45 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Finally, StockNews.com initiated coverage on shares of Western Digital in a report on Wednesday, February 26th. They issued a “buy” rating for the company. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Western Digital has an average rating of “Moderate Buy” and an average price target of $83.05.

Western Digital 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.