Highland Peak Capital LLC Grows Holdings in Western Digital Co. (NASDAQ:WDC)

Highland Peak Capital LLC raised its holdings in Western Digital Co. (NASDAQ:WDC) by 122.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 211,851 shares of the data storage provider’s stock after buying an additional 116,601 shares during the period. Western Digital comprises about 6.9% of Highland Peak Capital LLC’s holdings, making the stock its 4th largest position. Highland Peak Capital LLC’s holdings in Western Digital were worth $12,633,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Versant Capital Management Inc lifted its position in shares of Western Digital by 278.9% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock valued at $25,000 after purchasing an additional 304 shares in the last quarter. True Wealth Design LLC lifted its position 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 purchasing an additional 415 shares in the last quarter. Sierra Ocean LLC bought a new position in shares of Western Digital during the fourth quarter valued at about $29,000. Comprehensive Financial Planning Inc. PA bought a new stake in Western Digital in the fourth quarter worth about $30,000. Finally, Capital Performance Advisors LLP bought a new stake in Western Digital in the third quarter worth about $41,000. 92.51% of the stock is owned by institutional investors.

Western Digital Price Performance

Shares of NASDAQ:WDC opened at $41.70 on Monday. The company has a 50 day moving average of $61.65 and a 200 day moving average of $64.53. The stock has a market cap of $14.50 billion, a P/E ratio of 9.93 and a beta of 1.42. Western Digital Co. has a 12 month low of $39.58 and a 12 month high of $61.16. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60.

Western Digital (NASDAQ:WDC) last released its quarterly 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 return on equity of 15.68% and a net margin of 9.95%. As a group, sell-side analysts forecast that Western Digital Co. will post 4.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on WDC. UBS Group lifted their price objective on shares of Western Digital from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Susquehanna lowered their price objective on shares of Western Digital from $83.00 to $72.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Morgan Stanley lowered their price objective on shares of Western Digital from $100.00 to $93.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Barclays lowered 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, The Goldman Sachs Group lifted their price objective on shares of Western Digital from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Western Digital currently has an average rating of “Moderate Buy” and an average target price of $81.47.

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.