LGT Group Foundation Grows Holdings in Western Digital Co. (NASDAQ:WDC)

LGT Group Foundation grew its holdings in Western Digital Co. (NASDAQ:WDC) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,535 shares of the data storage provider’s stock after purchasing an additional 2,394 shares during the period. LGT Group Foundation’s holdings in Western Digital were worth $2,536,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc increased its stake in Western Digital by 278.9% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock worth $25,000 after purchasing an additional 304 shares during the period. True Wealth Design LLC increased its stake in shares of Western Digital by 2,184.2% during the third quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock valued at $30,000 after buying an additional 415 shares during the period. Sierra Ocean LLC purchased a new position in shares of Western Digital during the fourth quarter valued at $29,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Western Digital during the fourth quarter valued at $30,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Western Digital during the third quarter valued at $41,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on WDC shares. UBS Group raised their price target on Western Digital from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Mizuho cut their price target on Western Digital from $90.00 to $82.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. The Goldman Sachs Group raised their price target on Western Digital from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Cantor Fitzgerald restated an “overweight” rating and set a $95.00 price target on shares of Western Digital in a research note on Tuesday, February 18th. Finally, Morgan Stanley cut their price target on Western Digital from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Six 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, Western Digital has an average rating of “Moderate Buy” and an average price target of $83.05.

Western Digital Price Performance

Shares of WDC stock opened at $47.01 on Tuesday. Western Digital Co. has a fifty-two week low of $39.58 and a fifty-two week high of $61.16. The firm has a market capitalization of $16.35 billion, a price-to-earnings ratio of 11.19 and a beta of 1.44. 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 $63.13 and its 200-day simple moving average is $65.14.

Western Digital (NASDAQ:WDC) last issued its earnings results on Wednesday, January 29th. The data storage provider reported $1.55 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.