Western Digital Co. (NASDAQ:WDC) Shares Purchased by KBC Group NV

KBC Group NV increased its holdings in Western Digital Co. (NASDAQ:WDC) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 280,116 shares of the data storage provider’s stock after purchasing an additional 3,106 shares during the period. KBC Group NV owned 0.08% of Western Digital worth $16,703,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board boosted its position in Western Digital by 76.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 12,610 shares of the data storage provider’s stock worth $955,000 after purchasing an additional 5,445 shares during the period. AQR Capital Management LLC grew its position in Western Digital by 276.2% in the second quarter. AQR Capital Management LLC now owns 83,255 shares of the data storage provider’s stock valued at $6,308,000 after acquiring an additional 61,127 shares in the last quarter. Creative Planning lifted its position in shares of Western Digital by 21.0% during the second quarter. Creative Planning now owns 40,573 shares of the data storage provider’s stock worth $3,074,000 after purchasing an additional 7,037 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Western Digital by 10.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,265 shares of the data storage provider’s stock valued at $247,000 after purchasing an additional 310 shares during the period. Finally, Quarry LP grew its holdings in Western Digital by 154.2% during the 2nd quarter. Quarry LP now owns 760 shares of the data storage provider’s stock valued at $58,000 after purchasing an additional 461 shares in the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Insider Activity

In other news, SVP Gene M. Zamiska sold 658 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total transaction of $46,053.42. Following the sale, the senior vice president now owns 28,863 shares in the company, valued at $2,020,121.37. This represents a 2.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold a total of 1,347 shares of company stock worth $93,027 over the last three months. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $95.00 price target on shares of Western Digital in a research note on Friday, January 17th. Bank of America decreased their price target on shares of Western Digital from $89.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Morgan Stanley reduced their price objective on shares of Western Digital from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. UBS Group reduced their price target on shares of Western Digital from $74.00 to $72.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Finally, Mizuho lowered their price objective on Western Digital from $90.00 to $82.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Western Digital has a consensus rating of “Moderate Buy” and an average target price of $86.74.

Western Digital Stock Performance

WDC stock opened at $62.87 on Wednesday. Western Digital Co. has a 1-year low of $52.77 and a 1-year high of $81.55. The business’s 50-day moving average price is $65.72 and its two-hundred day moving average price is $65.64. The firm has a market cap of $21.73 billion, a PE ratio of 36.98 and a beta of 1.43. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49.

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.