Western Digital Co. (NASDAQ:WDC) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Western Digital Co. (NASDAQ:WDCFree Report) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 315,866 shares of the data storage provider’s stock after acquiring an additional 20,910 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.10% of Western Digital worth $15,901,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in WDC. SeaTown Holdings Pte. Ltd. purchased a new position in shares of Western Digital in the 4th quarter valued at $16,200,000. Ieq Capital LLC grew its position in Western Digital by 11.2% in the fourth quarter. Ieq Capital LLC now owns 8,506 shares of the data storage provider’s stock valued at $445,000 after acquiring an additional 859 shares in the last quarter. Forum Financial Management LP lifted its position in shares of Western Digital by 14.0% during the fourth quarter. Forum Financial Management LP now owns 5,643 shares of the data storage provider’s stock worth $296,000 after purchasing an additional 694 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Western Digital by 13.0% in the fourth quarter. Principal Financial Group Inc. now owns 796,784 shares of the data storage provider’s stock valued at $41,728,000 after purchasing an additional 91,901 shares during the period. Finally, Jump Financial LLC grew its holdings in Western Digital by 200.6% during the 4th quarter. Jump Financial LLC now owns 64,526 shares of the data storage provider’s stock valued at $3,379,000 after purchasing an additional 43,058 shares in the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Insider Transactions at Western Digital

In related news, Director Kimberly Alexy sold 2,648 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was 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 of the company’s stock, valued at $1,434,604.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Gene M. Zamiska sold 443 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $75.00, for a total transaction of $33,225.00. Following the completion of the sale, the senior vice president now directly owns 30,958 shares of the company’s stock, valued at $2,321,850. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kimberly Alexy sold 2,648 shares of Western Digital stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.95, for a total value of $185,227.60. Following the completion of the transaction, the director now directly owns 20,509 shares in the company, valued at approximately $1,434,604.55. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WDC. Citigroup initiated coverage on shares of Western Digital in a report on Tuesday. They issued a “buy” rating and a $90.00 price objective on the stock. Morgan Stanley increased their price target on Western Digital from $83.00 to $86.00 and gave the company an “overweight” rating in a report on Friday, April 26th. The Goldman Sachs Group lifted their price objective on Western Digital from $58.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Raymond James cut Western Digital from an “outperform” rating to a “market perform” rating in a research note on Monday, April 22nd. Finally, Robert W. Baird lifted their price target on shares of Western Digital from $65.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Western Digital currently has an average rating of “Moderate Buy” and a consensus target price of $78.32.

Read Our Latest Stock Analysis on Western Digital

Western Digital Stock Down 2.7 %

Shares of Western Digital stock opened at $72.10 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.86 and a quick ratio of 1.07. Western Digital Co. has a 1-year low of $35.62 and a 1-year high of $76.92. The business’s fifty day moving average price is $68.86 and its two-hundred day moving average price is $57.94. The company has a market capitalization of $23.54 billion, a P/E ratio of -14.51 and a beta of 1.53.

Western Digital (NASDAQ:WDCGet Free Report) last announced its earnings results on Thursday, April 25th. The data storage provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.42. Western Digital had a negative net margin of 12.87% and a negative return on equity of 13.75%. The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.37 billion. During the same quarter in the prior year, the firm posted ($1.57) EPS. Western Digital’s revenue was up 23.3% compared to the same quarter last year. As a group, research analysts forecast that Western Digital Co. will post -1.68 EPS for the current year.

Western Digital Company Profile

(Free Report)

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.

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

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