Tredje AP fonden Sells 25,262 Shares of Western Digital Co. (NASDAQ:WDC)

Tredje AP fonden lessened its stake in shares of Western Digital Co. (NASDAQ:WDC) by 50.0% in the 4th quarter, Holdings Channel reports. The firm owned 25,262 shares of the data storage provider’s stock after selling 25,262 shares during the period. Tredje AP fonden’s holdings in Western Digital were worth $1,506,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. First Horizon Advisors Inc. boosted its holdings in shares of Western Digital by 5.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 2,929 shares of the data storage provider’s stock valued at $200,000 after purchasing an additional 149 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of Western Digital by 7.0% during the 4th quarter. Mather Group LLC. now owns 2,416 shares of the data storage provider’s stock valued at $144,000 after purchasing an additional 159 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Western Digital by 1.4% during the 4th quarter. Vontobel Holding Ltd. now owns 11,804 shares of the data storage provider’s stock valued at $704,000 after purchasing an additional 164 shares during the last quarter. Quarry LP boosted its holdings in shares of Western Digital by 22.6% during the 3rd quarter. Quarry LP now owns 932 shares of the data storage provider’s stock valued at $64,000 after purchasing an additional 172 shares during the last quarter. Finally, Inspire Investing LLC boosted its holdings in shares of Western Digital by 4.3% during the 4th quarter. Inspire Investing LLC now owns 4,324 shares of the data storage provider’s stock valued at $258,000 after purchasing an additional 177 shares during the last quarter. Institutional investors own 92.51% of the company’s stock.

Insider Activity at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of Western Digital stock in a transaction on Friday, March 7th. The shares were sold at an average price of $41.36, for a total value of $68,616.24. Following the completion of the transaction, the senior vice president now owns 43,776 shares of the company’s stock, valued at approximately $1,810,575.36. The trade was a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.30% of the stock is currently owned by insiders.

Western Digital Price Performance

Shares of WDC opened at $44.53 on Friday. The company has a market cap of $15.49 billion, a price-to-earnings ratio of 10.60 and a beta of 1.42. Western Digital Co. has a twelve month low of $39.42 and a twelve month high of $81.55. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average of $59.79 and a two-hundred day moving average of $63.78.

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

Analyst Ratings Changes

A number of research analysts recently commented on WDC shares. Mizuho lowered their price target on shares of Western Digital from $90.00 to $82.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Barclays lowered their price target on shares of Western Digital from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Cantor Fitzgerald lowered their price target on shares of Western Digital from $95.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Rosenblatt Securities lowered their price target on shares of Western Digital from $115.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $95.00 price target on shares of Western Digital in a report on Monday, February 10th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.47.

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.