Mizuho Securities USA LLC Grows Stock Position in Western Digital Co. (NASDAQ:WDC)

Mizuho Securities USA LLC increased its position in shares of Western Digital Co. (NASDAQ:WDC) by 54.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,765 shares of the data storage provider’s stock after purchasing an additional 11,592 shares during the quarter. Mizuho Securities USA LLC’s holdings in Western Digital were worth $1,954,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its stake in Western Digital by 278.9% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock worth $25,000 after purchasing an additional 304 shares during the last quarter. Sierra Ocean LLC acquired a new position in Western Digital during the fourth quarter worth about $29,000. True Wealth Design LLC grew its stake in Western Digital by 2,184.2% during the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock valued at $30,000 after acquiring an additional 415 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new stake in Western Digital in the 4th quarter valued at about $30,000. Finally, OFI Invest Asset Management purchased a new position in Western Digital in the 4th quarter worth approximately $36,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Gene M. Zamiska sold 1,659 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $41.36, for a total transaction of $68,616.24. Following the completion of the transaction, the senior vice president now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.30% of the stock is currently owned by insiders.

Western Digital Stock Up 1.5 %

Shares of WDC opened at $44.31 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99. The stock has a market capitalization of $15.41 billion, a PE ratio of 10.55 and a beta of 1.42. The company’s 50-day simple moving average is $57.45 and its 200-day simple moving average is $62.98. Western Digital Co. has a 1 year low of $39.42 and a 1 year high of $81.55.

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

Analyst Ratings Changes

WDC has been the subject of a number of analyst reports. StockNews.com lowered Western Digital from a “buy” rating to a “hold” rating in a research report on Monday. Citigroup raised their target price on Western Digital from $60.45 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. The Goldman Sachs Group lifted their price target on Western Digital from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Bank of America cut their price objective on shares of 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, Rosenblatt Securities decreased their target price on shares of Western Digital from $115.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.21.

About Western Digital

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.