Diametric Capital LP Has $1.97 Million Stock Position in Western Digital Co. (NASDAQ:WDC)

Diametric Capital LP trimmed its position in Western Digital Co. (NASDAQ:WDC) by 11.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 33,016 shares of the data storage provider’s stock after selling 4,416 shares during the period. Western Digital makes up 1.3% of Diametric Capital LP’s portfolio, making the stock its 9th biggest holding. Diametric Capital LP’s holdings in Western Digital were worth $1,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in WDC. Vanguard Group Inc. raised its position in shares of Western Digital by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 42,459,767 shares of the data storage provider’s stock valued at $2,531,876,000 after buying an additional 1,439,149 shares in the last quarter. State Street Corp increased its stake in Western Digital by 3.2% during the 3rd quarter. State Street Corp now owns 13,572,686 shares of the data storage provider’s stock worth $926,879,000 after acquiring an additional 423,651 shares during the period. Geode Capital Management LLC raised its holdings in Western Digital by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 7,921,608 shares of the data storage provider’s stock valued at $539,355,000 after acquiring an additional 76,781 shares in the last quarter. Norges Bank acquired a new position in Western Digital in the 4th quarter valued at $352,572,000. Finally, Maple Rock Capital Partners Inc. grew its holdings in shares of Western Digital by 13.2% during the 3rd 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 in the last quarter. Institutional investors own 92.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WDC shares. The Goldman Sachs Group boosted their price target on Western Digital from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Morgan Stanley dropped their target price 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. Robert W. Baird reduced their price target on shares of Western Digital from $100.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Benchmark downgraded shares of Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price objective for the company. in a research report on Thursday, December 19th. Finally, Barclays reduced their target price on Western Digital from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.21.

Western Digital Stock Down 0.5 %

NASDAQ:WDC opened at $40.43 on Tuesday. Western Digital Co. has a one year low of $39.10 and a one year high of $81.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26. The company has a market cap of $14.06 billion, a PE ratio of 9.63 and a beta of 1.42. The firm’s 50 day simple moving average is $55.20 and its 200 day simple moving average is $62.25.

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, research analysts anticipate that Western Digital Co. will post 4.89 earnings per share for the current year.

Insider Buying and Selling at Western Digital

In other news, SVP Gene M. Zamiska sold 1,659 shares of the company’s 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 directly owns 43,776 shares of the company’s stock, valued at approximately $1,810,575.36. This represents a 3.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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.