Asset Management One Co. Ltd. Grows Stake in Western Digital Corporation $WDC

Asset Management One Co. Ltd. raised its stake in Western Digital Corporation (NASDAQ:WDC) by 2.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,763 shares of the data storage provider’s stock after purchasing an additional 3,456 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Western Digital were worth $9,455,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in WDC. Wealth Enhancement Advisory Services LLC raised its position in Western Digital by 52.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,838 shares of the data storage provider’s stock valued at $1,166,000 after purchasing an additional 9,974 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in Western Digital by 617.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 125,971 shares of the data storage provider’s stock valued at $5,093,000 after purchasing an additional 108,403 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Western Digital by 0.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,395 shares of the data storage provider’s stock valued at $1,835,000 after purchasing an additional 264 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Western Digital by 2.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,344 shares of the data storage provider’s stock valued at $668,000 after purchasing an additional 406 shares in the last quarter. Finally, KBC Group NV grew its stake in Western Digital by 3.4% during the 1st quarter. KBC Group NV now owns 289,693 shares of the data storage provider’s stock valued at $11,712,000 after purchasing an additional 9,577 shares in the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WDC shares. Wedbush raised their price objective on Western Digital from $90.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Morgan Stanley raised their price objective on Western Digital from $92.00 to $99.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. UBS Group raised their price objective on Western Digital from $85.00 to $135.00 and gave the company a “neutral” rating in a research note on Monday, October 20th. Citigroup raised their price objective on Western Digital from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Finally, Loop Capital lifted their price target on Western Digital from $92.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. One 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $109.84.

Western Digital Stock Performance

Shares of WDC stock opened at $126.67 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.08 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average of $105.17 and a two-hundred day moving average of $73.93. Western Digital Corporation has a 52 week low of $28.83 and a 52 week high of $137.40. The company has a market cap of $43.42 billion, a P/E ratio of 24.60, a PEG ratio of 1.05 and a beta of 1.77.

Western Digital (NASDAQ:WDC) last issued its earnings results on Monday, April 7th. The data storage provider reported $1.78 EPS 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, analysts anticipate that Western Digital Corporation will post 4.89 EPS for the current year.

Insider Buying and Selling

In other news, CEO Irving Tan sold 8,621 shares of Western Digital 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 sale, the chief executive officer 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Vidyadhara K. Gubbi sold 11,343 shares of Western Digital stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $90.29, for a total value of $1,024,159.47. Following the sale, the insider directly owned 151,596 shares in the company, valued at approximately $13,687,602.84. This trade represents a 6.96% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,730 shares of company stock valued at $3,921,594. 0.18% of the stock is currently owned by insiders.

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.