Mitsubishi UFJ Trust & Banking Corp Boosts Stock Position in Western Digital Co. (NASDAQ:WDC)

Mitsubishi UFJ Trust & Banking Corp raised its holdings in Western Digital Co. (NASDAQ:WDC) by 4.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 156,763 shares of the data storage provider’s stock after acquiring an additional 6,129 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Western Digital were worth $9,348,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. AMF Tjanstepension AB bought a new position in shares of Western Digital in the fourth quarter worth about $94,181,000. Vanguard Group Inc. boosted its position in Western Digital by 3.5% in 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 buying an additional 1,439,149 shares during the period. Sachem Head Capital Management LP grew its stake in Western Digital by 75.2% in 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 increased its position in shares of Western Digital by 24.6% during the third 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 period. Finally, Holocene Advisors LP raised its stake 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 valued at $218,034,000 after acquiring an additional 651,847 shares in the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Analyst Upgrades and Downgrades

WDC has been the topic of several research analyst reports. Susquehanna dropped their price objective on Western Digital from $83.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Cantor Fitzgerald cut their price target on Western Digital from $95.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Morgan Stanley lowered their price objective on shares of Western Digital from $100.00 to $93.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Mizuho dropped their target price on shares of Western Digital from $90.00 to $82.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Finally, Barclays reduced 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. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Western Digital has a consensus rating of “Moderate Buy” and an average target price of $80.21.

Insider Buying and Selling

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $41.36, for a total transaction of $68,616.24. Following the completion of 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.30% of the stock is currently owned by company insiders.

Western Digital Price Performance

Shares of WDC stock opened at $40.62 on Friday. The firm has a market capitalization of $14.13 billion, a price-to-earnings ratio of 9.67 and a beta of 1.42. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99. The stock’s 50-day simple moving average is $55.69 and its 200-day simple moving average is $62.41. Western Digital Co. has a fifty-two week low of $39.42 and a fifty-two week high of $81.55.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 forecast that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.

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.