Western Digital Co. (NASDAQ:WDC) Shares Purchased by MUFG Securities EMEA plc

MUFG Securities EMEA plc boosted its stake in shares of Western Digital Co. (NASDAQ:WDC) by 68.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 7,809 shares of the data storage provider’s stock after acquiring an additional 3,184 shares during the period. MUFG Securities EMEA plc’s holdings in Western Digital were worth $409,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Western Digital in the fourth quarter worth approximately $150,958,000. Westfield Capital Management Co. LP purchased a new stake in shares of Western Digital during the fourth quarter worth $48,466,000. Nomura Holdings Inc. grew its holdings in shares of Western Digital by 7.0% during the third quarter. Nomura Holdings Inc. now owns 13,361,999 shares of the data storage provider’s stock worth $609,708,000 after buying an additional 870,971 shares in the last quarter. Mizuho Markets Americas LLC acquired a new stake in shares of Western Digital in the fourth quarter valued at about $37,260,000. Finally, Maple Rock Capital Partners Inc. boosted its position in Western Digital by 29.3% during the third quarter. Maple Rock Capital Partners Inc. now owns 2,486,333 shares of the data storage provider’s stock worth $113,451,000 after acquiring an additional 563,232 shares during the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WDC has been the topic of a number of research reports. Evercore ISI raised their target price on shares of Western Digital from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Cantor Fitzgerald upped their target price on Western Digital from $70.00 to $100.00 and gave the company an “overweight” rating in a report on Monday, April 8th. The Goldman Sachs Group lifted their price target on Western Digital from $58.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Benchmark raised shares of Western Digital from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Friday, April 26th. Finally, Wedbush restated an “outperform” rating and set a $85.00 price objective on shares of Western Digital in a research report on Friday, April 26th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.32.

Western Digital Stock Up 0.9 %

Shares of Western Digital stock traded up $0.65 during trading hours on Friday, reaching $74.81. 2,743,577 shares of the company were exchanged, compared to its average volume of 6,196,621. The firm has a market cap of $24.43 billion, a PE ratio of -15.05 and a beta of 1.53. The stock’s fifty day moving average is $70.09 and its 200 day moving average is $59.27. Western Digital Co. has a 1 year low of $35.62 and a 1 year high of $76.92. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.07 and a current ratio of 1.86.

Western Digital (NASDAQ:WDC) last posted its quarterly 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 return on equity of 13.75% and a negative net margin of 12.87%. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.37 billion. During the same quarter last year, the company earned ($1.57) EPS. Western Digital’s revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, equities research analysts forecast that Western Digital Co. will post -1.68 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Gene M. Zamiska sold 416 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $71.88, for a total transaction of $29,902.08. Following the completion of the transaction, the senior vice president now owns 30,321 shares in the company, valued at $2,179,473.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Gene M. Zamiska sold 416 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $71.88, for a total transaction of $29,902.08. Following the completion of the sale, the senior vice president now owns 30,321 shares in the company, valued at $2,179,473.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kimberly Alexy sold 2,648 shares of the stock in a transaction that occurred on 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 $1,434,604.55. The disclosure for this sale can be found here. Insiders sold 3,507 shares of company stock worth $248,355 in the last 90 days. Corporate insiders own 0.28% of the company’s stock.

Western Digital Company 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.