Keybank National Association OH Increases Stake in Western Digital Co. (NASDAQ:WDC)

Keybank National Association OH lifted its position in Western Digital Co. (NASDAQ:WDC) by 12.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,015 shares of the data storage provider’s stock after acquiring an additional 437 shares during the quarter. Keybank National Association OH’s holdings in Western Digital were worth $239,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Sachem Head Capital Management LP lifted its stake in Western Digital by 75.2% in the third quarter. Sachem Head Capital Management LP now owns 2,030,000 shares of the data storage provider’s stock worth $138,629,000 after purchasing an additional 871,500 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Western Digital by 24.6% during 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. Holocene Advisors LP boosted its holdings in Western Digital by 25.7% during the 3rd 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 during the period. State Street Corp grew its position in Western Digital by 3.2% in the 3rd quarter. State Street Corp now owns 13,572,686 shares of the data storage provider’s stock valued at $926,879,000 after acquiring an additional 423,651 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. increased its stake in Western Digital by 13.2% in the third quarter. Maple Rock Capital Partners Inc. now owns 3,287,400 shares of the data storage provider’s stock worth $224,497,000 after purchasing an additional 383,390 shares during the period. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital Trading Up 3.1 %

NASDAQ:WDC opened at $41.80 on Wednesday. The firm has a 50 day moving average of $60.91 and a 200 day moving average of $64.21. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. Western Digital Co. has a 52 week low of $39.42 and a 52 week high of $61.16. The stock has a market capitalization of $14.54 billion, a price-to-earnings ratio of 9.95 and a beta of 1.42.

Western Digital (NASDAQ:WDC) last announced its earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share 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%. As a group, sell-side analysts anticipate that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wedbush reissued an “outperform” rating and set a $95.00 target price on shares of Western Digital in a research note on Monday, February 10th. 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 report on Thursday, December 19th. The Goldman Sachs Group upped their target price on shares of Western Digital from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Citigroup lifted their price target on shares of Western Digital from $60.45 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Finally, Barclays dropped their price objective on Western Digital from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Western Digital presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.47.

Insider Activity

In related news, SVP Gene M. Zamiska sold 1,659 shares of the company’s stock in a transaction 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 $1,810,575.36. This represents a 3.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.30% of the company’s stock.

About Western Digital

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.