Mountain Hill Investment Partners Corp. Acquires Shares of 80,341 Western Digital Co. (NASDAQ:WDC)

Mountain Hill Investment Partners Corp. bought a new position in shares of Western Digital Co. (NASDAQ:WDC) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 80,341 shares of the data storage provider’s stock, valued at approximately $4,791,000. Western Digital comprises 4.9% of Mountain Hill Investment Partners Corp.’s holdings, making the stock its 11th biggest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Western Digital by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 42,459,767 shares of the data storage provider’s stock worth $2,531,876,000 after purchasing an additional 1,439,149 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Western Digital during the 4th quarter worth $7,366,000. AXQ Capital LP purchased a new position in shares of Western Digital during the fourth quarter valued at $1,507,000. Mizuho Securities USA LLC raised its holdings in shares of Western Digital by 54.7% in the fourth quarter. Mizuho Securities USA LLC now owns 32,765 shares of the data storage provider’s stock valued at $1,954,000 after acquiring an additional 11,592 shares in the last quarter. Finally, Virtu Financial LLC lifted its stake in Western Digital by 158.9% in the fourth quarter. Virtu Financial LLC now owns 34,451 shares of the data storage provider’s stock worth $2,054,000 after acquiring an additional 21,143 shares during the period. Institutional investors own 92.51% of the company’s stock.

Insider Buying and Selling

In other news, SVP Gene M. Zamiska sold 1,659 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $41.36, for a total value of $68,616.24. Following the sale, the senior vice president now owns 43,776 shares in the company, valued at $1,810,575.36. This represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Western Digital Trading Down 1.9 %

NASDAQ WDC opened at $43.66 on Monday. The stock has a market cap of $15.19 billion, a P/E ratio of 10.40 and a beta of 1.42. 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 $39.42 and a 12-month high of $81.55. The company has a fifty day simple moving average of $57.80 and a two-hundred day simple moving average of $63.11.

Western Digital (NASDAQ:WDC) last issued 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%. On average, analysts forecast that Western Digital Co. will post 4.89 earnings per share for the current year.

Analyst Ratings Changes

WDC has been the subject of several recent research reports. Wedbush restated an “outperform” rating and issued a $95.00 price target on shares of Western Digital in a report on Monday, February 10th. Rosenblatt Securities reduced their price objective on shares of Western Digital from $115.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Robert W. Baird dropped their target price on Western Digital from $100.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Morgan Stanley reduced their price target on Western Digital from $100.00 to $93.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group raised their price objective on Western Digital from $70.00 to $80.00 and gave the company 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 company’s stock. According to MarketBeat.com, Western Digital has an average rating of “Moderate Buy” and an average target price of $80.21.

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.