Western Digital Co. (NASDAQ:WDC) Shares Bought by Corebridge Financial Inc.

Corebridge Financial Inc. lifted its holdings in Western Digital Co. (NASDAQ:WDC) by 20.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,247 shares of the data storage provider’s stock after purchasing an additional 27,017 shares during the period. Corebridge Financial Inc.’s holdings in Western Digital were worth $9,317,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. AMF Tjanstepension AB bought a new stake in Western Digital during the fourth quarter worth approximately $94,181,000. Vanguard Group Inc. lifted its position in shares of Western Digital by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 42,459,767 shares of the data storage provider’s stock valued at $2,531,876,000 after acquiring an additional 1,439,149 shares during the last quarter. Sachem Head Capital Management LP boosted its stake in shares of Western Digital by 75.2% during the 3rd quarter. Sachem Head Capital Management LP now owns 2,030,000 shares of the data storage provider’s stock worth $138,629,000 after acquiring an additional 871,500 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Western Digital by 24.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,711,428 shares of the data storage provider’s stock worth $253,453,000 after acquiring an additional 732,344 shares during the last quarter. Finally, Holocene Advisors LP raised its position in shares of Western Digital by 25.7% during the third quarter. Holocene Advisors LP now owns 3,192,762 shares of the data storage provider’s stock worth $218,034,000 after purchasing an additional 651,847 shares during the period. 92.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Gene M. Zamiska sold 1,659 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $41.36, for a total value of $68,616.24. Following the transaction, the senior vice president now directly owns 43,776 shares of the company’s stock, valued at approximately $1,810,575.36. This trade represents a 3.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.30% of the company’s stock.

Western Digital Price Performance

NASDAQ WDC opened at $41.91 on Friday. 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 stock has a market capitalization of $14.58 billion, a PE ratio of 9.98 and a beta of 1.42. Western Digital Co. has a 12-month low of $39.42 and a 12-month high of $81.55. The company has a 50 day moving average price of $56.18 and a two-hundred day moving average price of $62.57.

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

Analysts Set New Price Targets

WDC has been the subject of a number of recent analyst reports. StockNews.com lowered Western Digital from a “buy” rating to a “hold” rating in a research report on Monday. Bank of America decreased their target price on shares of Western Digital from $89.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Rosenblatt Securities cut their price target on shares of Western Digital from $115.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Wedbush reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Western Digital in a research note on Monday, February 10th. Finally, Robert W. Baird lowered their price objective on shares of Western Digital from $100.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.21.

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.