Hartford Investment Management Co. cut its stake in Western Digital Corp (NASDAQ:WDC) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,951 shares of the data storage provider’s stock after selling 3,172 shares during the period. Hartford Investment Management Co.’s holdings in Western Digital were worth $1,773,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vident Investment Advisory LLC boosted its position in Western Digital by 705.1% during the third quarter. Vident Investment Advisory LLC now owns 49,272 shares of the data storage provider’s stock worth $2,884,000 after acquiring an additional 43,152 shares during the last quarter. ING Groep NV boosted its position in Western Digital by 343.5% during the third quarter. ING Groep NV now owns 92,390 shares of the data storage provider’s stock worth $5,409,000 after acquiring an additional 71,556 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Western Digital by 17.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,328 shares of the data storage provider’s stock worth $750,000 after acquiring an additional 2,172 shares during the last quarter. USA Financial Portformulas Corp acquired a new stake in Western Digital during the third quarter worth approximately $421,000. Finally, NuWave Investment Management LLC boosted its position in Western Digital by 4,323.7% during the fourth quarter. NuWave Investment Management LLC now owns 7,830 shares of the data storage provider’s stock worth $290,000 after acquiring an additional 7,653 shares during the last quarter. 86.63% of the stock is owned by institutional investors.

NASDAQ:WDC opened at $46.71 on Monday. The company has a current ratio of 2.24, a quick ratio of 1.45 and a debt-to-equity ratio of 0.95. The firm has a market cap of $13.59 billion, a P/E ratio of 3.46, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43. Western Digital Corp has a twelve month low of $33.83 and a twelve month high of $106.96.

Western Digital (NASDAQ:WDC) last posted its earnings results on Thursday, January 24th. The data storage provider reported $1.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.18. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.26 billion. Western Digital had a net margin of 4.34% and a return on equity of 28.88%. The business’s quarterly revenue was down 20.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.95 EPS. Sell-side analysts forecast that Western Digital Corp will post 4.7 EPS for the current year.

A number of analysts recently issued reports on WDC shares. Craig Hallum upgraded shares of Western Digital from a “hold” rating to a “buy” rating in a research report on Thursday, December 6th. Deutsche Bank started coverage on shares of Western Digital in a research report on Thursday, December 13th. They set a “hold” rating on the stock. BidaskClub upgraded shares of Western Digital from a “strong sell” rating to a “sell” rating in a research report on Saturday, November 3rd. Evercore ISI lowered shares of Western Digital from an “in-line” rating to an “underperform” rating and set a $30.00 target price on the stock. in a research report on Monday, January 14th. Finally, ValuEngine upgraded shares of Western Digital from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $68.22.

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About Western Digital

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.

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Institutional Ownership by Quarter for Western Digital (NASDAQ:WDC)

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