Western Digital Co. (NASDAQ:WDC) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its holdings in Western Digital Co. (NASDAQ:WDC) by 23.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 81,346 shares of the data storage provider’s stock after buying an additional 15,285 shares during the quarter. Handelsbanken Fonder AB’s holdings in Western Digital were worth $4,260,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Naples Money Management LLC acquired a new stake in shares of Western Digital in the fourth quarter worth $26,000. Lindbrook Capital LLC increased its position in shares of Western Digital by 121.7% in the fourth quarter. Lindbrook Capital LLC now owns 614 shares of the data storage provider’s stock worth $32,000 after acquiring an additional 337 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of Western Digital by 79.1% in the third quarter. Parkside Financial Bank & Trust now owns 747 shares of the data storage provider’s stock worth $34,000 after acquiring an additional 330 shares in the last quarter. CVA Family Office LLC acquired a new stake in shares of Western Digital in the fourth quarter worth $41,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Western Digital in the third quarter worth $41,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insider Buying and Selling at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 443 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $75.00, for a total transaction of $33,225.00. Following the transaction, the senior vice president now owns 30,958 shares of the company’s stock, valued at approximately $2,321,850. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Kimberly Alexy sold 2,648 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.95, for a total transaction of $185,227.60. Following the completion of the transaction, the director now owns 20,509 shares in the company, valued at approximately $1,434,604.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Gene M. Zamiska sold 443 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $75.00, for a total transaction of $33,225.00. Following the transaction, the senior vice president now owns 30,958 shares of the company’s stock, valued at approximately $2,321,850. The disclosure for this sale can be found here. 0.28% of the stock is owned by corporate insiders.

Western Digital Trading Down 0.2 %

WDC stock opened at $69.44 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.67 and a debt-to-equity ratio of 0.73. Western Digital Co. has a fifty-two week low of $32.01 and a fifty-two week high of $76.92. The firm’s 50-day simple moving average is $64.73 and its 200 day simple moving average is $54.78.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, April 25th. The data storage provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.42. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.37 billion. Western Digital had a negative net margin of 19.90% and a negative return on equity of 19.45%. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter last year, the company earned ($1.57) EPS. Analysts predict that Western Digital Co. will post -2.21 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on WDC. The Goldman Sachs Group increased their price objective on shares of Western Digital from $58.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Evercore ISI initiated coverage on shares of Western Digital in a research note on Wednesday, March 27th. They issued an “outperform” rating and a $80.00 target price for the company. Susquehanna increased their price objective on shares of Western Digital from $68.00 to $83.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Western Digital from a “hold” rating to a “buy” rating and increased their price objective for the company from $45.00 to $65.00 in a research note on Tuesday, January 16th. Finally, Bank of America raised their price target on shares of Western Digital from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Western Digital presently has an average rating of “Moderate Buy” and an average target price of $73.72.

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.