Central Asset Investments & Management Holdings HK Ltd Invests $298,000 in Western Digital Co. (NASDAQ:WDC)

Central Asset Investments & Management Holdings HK Ltd purchased a new stake in Western Digital Co. (NASDAQ:WDC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,000 shares of the data storage provider’s stock, valued at approximately $298,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc lifted its position in shares of Western Digital by 278.9% in the 4th 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. Sierra Ocean LLC bought a new position in Western Digital in the fourth quarter worth approximately $29,000. True Wealth Design LLC lifted its holdings in 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 worth $30,000 after buying an additional 415 shares during the period. Comprehensive Financial Planning Inc. PA bought a new stake in Western Digital during the 4th quarter valued at $30,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Western Digital in the 3rd quarter valued at $41,000. Institutional investors own 92.51% of the company’s stock.

Wall Street Analysts Forecast Growth

WDC has been the subject of a number of analyst reports. Wedbush restated an “outperform” rating and set a $95.00 price objective on shares of Western Digital in a research note on Monday, February 10th. Mizuho decreased their price target on shares of Western Digital from $90.00 to $82.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Susquehanna cut 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. Robert W. Baird decreased their target price on shares of Western Digital from $100.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. Finally, UBS Group lifted their price target on shares of Western Digital from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.05.

Western Digital Stock Performance

Shares of NASDAQ WDC opened at $50.16 on Thursday. The stock has a market cap of $17.45 billion, a price-to-earnings ratio of 11.94 and a beta of 1.44. Western Digital Co. has a 12 month low of $39.58 and a 12 month high of $61.16. The company has a 50 day simple moving average of $63.87 and a two-hundred day simple moving average of $65.41. 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 announced its quarterly 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, analysts predict that Western Digital Co. will post 4.89 earnings per share for the current year.

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.