Western Digital Co. (NASDAQ:WDC) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd reduced its stake in Western Digital Co. (NASDAQ:WDC) by 0.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 25,080 shares of the data storage provider’s stock after selling 218 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Western Digital were worth $1,495,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in WDC. Raymond James & Associates increased its stake in Western Digital by 59.2% during the 3rd quarter. Raymond James & Associates now owns 54,078 shares of the data storage provider’s stock worth $3,693,000 after buying an additional 20,117 shares during the period. Private Advisor Group LLC increased its stake in Western Digital by 27.7% during the 3rd quarter. Private Advisor Group LLC now owns 4,317 shares of the data storage provider’s stock worth $295,000 after buying an additional 936 shares during the period. International Assets Investment Management LLC increased its stake in Western Digital by 3,705.1% during the 3rd quarter. International Assets Investment Management LLC now owns 38,584 shares of the data storage provider’s stock worth $2,635,000 after buying an additional 37,570 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Western Digital by 84.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,540 shares of the data storage provider’s stock worth $993,000 after buying an additional 6,644 shares during the period. Finally, abrdn plc increased its stake in Western Digital by 2.0% during the 3rd quarter. abrdn plc now owns 119,577 shares of the data storage provider’s stock worth $8,205,000 after buying an additional 2,320 shares during the period. 92.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WDC has been the topic of several recent research reports. Mizuho cut their target price on shares of Western Digital from $90.00 to $82.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Benchmark downgraded shares of Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price objective on the stock. in a research report on Thursday, December 19th. Citigroup increased their price objective on shares of Western Digital from $60.45 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Barclays dropped their price objective on shares of Western Digital from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, Rosenblatt Securities dropped their price objective on shares of Western Digital from $115.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.05.

Western Digital Stock Up 1.5 %

Shares of NASDAQ:WDC opened at $48.93 on Friday. The stock has a market cap of $17.02 billion, a P/E ratio of 11.65 and a beta of 1.44. The firm has a fifty day moving average price of $63.42 and a 200 day moving average price of $65.23. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26. Western Digital Co. has a 1-year low of $39.58 and a 1-year high of $61.16.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. Sell-side analysts predict that Western Digital Co. will post 4.89 EPS for the current year.

Western Digital 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.