LGT Group Foundation Raises Stake in Western Digital Co. (NASDAQ:WDC)

LGT Group Foundation raised its stake in Western Digital Co. (NASDAQ:WDC) by 6.0% in the fourth quarter, HoldingsChannel reports. The fund 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 and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. First Horizon Advisors Inc. lifted its holdings in Western Digital by 5.4% in the third quarter. First Horizon Advisors Inc. now owns 2,929 shares of the data storage provider’s stock valued at $200,000 after acquiring an additional 149 shares during the period. Mather Group LLC. lifted its holdings in Western Digital by 7.0% in the fourth quarter. Mather Group LLC. now owns 2,416 shares of the data storage provider’s stock valued at $144,000 after acquiring an additional 159 shares during the period. Vontobel Holding Ltd. lifted its holdings in Western Digital by 1.4% in the fourth quarter. Vontobel Holding Ltd. now owns 11,804 shares of the data storage provider’s stock valued at $704,000 after acquiring an additional 164 shares during the period. Quarry LP lifted its holdings in Western Digital by 22.6% in the third quarter. Quarry LP now owns 932 shares of the data storage provider’s stock valued at $64,000 after acquiring an additional 172 shares during the period. Finally, Inspire Investing LLC lifted its holdings in Western Digital by 4.3% in the fourth quarter. Inspire Investing LLC now owns 4,324 shares of the data storage provider’s stock valued at $258,000 after acquiring an additional 177 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.

Western Digital Stock Down 3.9 %

NASDAQ WDC opened at $47.01 on Tuesday. 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 business has a fifty day moving average price of $63.13 and a 200 day moving average price of $65.14. The company has a market cap of $16.35 billion, a P/E ratio of 11.19 and a beta of 1.44. Western Digital Co. has a one year low of $39.58 and a one year high of $61.16.

Western Digital (NASDAQ:WDC) last issued its 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 net margin of 9.95% and a return on equity of 15.68%. Research analysts anticipate that Western Digital Co. will post 4.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WDC has been the subject of a number of analyst reports. Barclays decreased their price target on Western Digital from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Citigroup upped their target price on Western Digital from $60.45 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Wedbush reaffirmed an “outperform” rating and set a $95.00 target price on shares of Western Digital in a research note on Monday, February 10th. Mizuho reduced their target price on Western Digital from $90.00 to $82.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Finally, The Goldman Sachs Group upped their target price on Western Digital from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.05.

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.