Choreo LLC Purchases 1,613 Shares of Western Digital Co. (NASDAQ:WDC)

Choreo LLC increased its position in shares of Western Digital Co. (NASDAQ:WDC) by 31.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,692 shares of the data storage provider’s stock after buying an additional 1,613 shares during the period. Choreo LLC’s holdings in Western Digital were worth $399,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Western Digital by 32.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,131 shares of the data storage provider’s stock worth $2,691,000 after purchasing an additional 11,013 shares during the period. Yousif Capital Management LLC raised its holdings in Western Digital by 2.5% in the 4th quarter. Yousif Capital Management LLC now owns 46,595 shares of the data storage provider’s stock valued at $2,778,000 after acquiring an additional 1,117 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Western Digital by 4.9% in the 4th quarter. Retirement Systems of Alabama now owns 74,848 shares of the data storage provider’s stock worth $4,463,000 after acquiring an additional 3,510 shares during the period. Mather Group LLC. grew 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 worth $144,000 after purchasing an additional 159 shares in the last quarter. Finally, S.A. Mason LLC bought a new stake in shares of Western Digital during the fourth quarter valued at approximately $45,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Trading Down 2.4 %

NASDAQ WDC opened at $67.28 on Thursday. The firm has a market capitalization of $23.40 billion, a PE ratio of 16.02 and a beta of 1.44. The business’s 50-day moving average price is $64.69 and its two-hundred day moving average price is $65.18. 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 Co. has a 12 month low of $52.77 and a 12 month high of $81.55.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results 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 return on equity of 15.68% and a net margin of 9.95%. On average, analysts expect that Western Digital Co. will post 4.89 EPS for the current year.

Insider Activity at Western Digital

In related news, SVP Gene M. Zamiska sold 658 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total transaction of $46,053.42. Following the transaction, the senior vice president now owns 28,863 shares in the company, valued at $2,020,121.37. The trade was a 2.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 1,347 shares of company stock worth $93,027 over the last quarter. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on WDC shares. Wedbush reiterated an “outperform” rating and set a $95.00 target price on shares of Western Digital in a research report on Monday. Morgan Stanley lowered their price objective 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. BNP Paribas decreased their price target on Western Digital from $95.00 to $90.00 in a research note on Thursday, October 24th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $95.00 price target on shares of Western Digital in a research report on Monday. Finally, Robert W. Baird reduced their target price on shares of Western Digital from $100.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Western Digital has an average rating of “Moderate Buy” and an average price target of $84.42.

Western Digital 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.