TD Asset Management Inc. lifted its holdings in Western Digital Co. (NASDAQ:WDC – Get Rating) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,062 shares of the data storage provider's stock after purchasing an additional 846 shares during the quarter. TD Asset Management Inc.'s holdings in Western Digital were worth $3,928,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. DNB Asset Management AS increased its holdings in Western Digital by 31.9% during the third quarter. DNB Asset Management AS now owns 4,541,905 shares of the data storage provider's stock worth $147,839,000 after buying an additional 1,098,715 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Western Digital by 883.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 4,404,398 shares of the data storage provider's stock worth $197,449,000 after buying an additional 3,956,430 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Western Digital by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,501,843 shares of the data storage provider's stock worth $173,893,000 after buying an additional 80,373 shares during the last quarter. Northern Trust Corp increased its holdings in Western Digital by 1.8% during the second quarter. Northern Trust Corp now owns 3,259,447 shares of the data storage provider's stock worth $146,120,000 after buying an additional 59,142 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Western Digital by 6.6% during the second quarter. Legal & General Group Plc now owns 2,738,055 shares of the data storage provider's stock worth $122,747,000 after buying an additional 168,770 shares during the last quarter. Institutional investors own 85.47% of the company's stock.
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Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on WDC shares. Benchmark upgraded shares of Western Digital from a "sell" rating to a "hold" rating in a report on Friday, January 6th. StockNews.com downgraded shares of Western Digital from a "hold" rating to a "sell" rating in a report on Monday, October 31st. Wedbush decreased their price objective on shares of Western Digital from $70.00 to $60.00 and set an "outperform" rating on the stock in a report on Tuesday, October 25th. BNP Paribas upgraded shares of Western Digital from an "underperform" rating to a "neutral" rating and set a $42.00 price objective on the stock in a report on Monday, January 23rd. Finally, Craig Hallum upped their price objective on shares of Western Digital from $50.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, February 1st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $50.05.
Western Digital Trading Down 3.0 %
WDC opened at $43.25 on Monday. Western Digital Co. has a twelve month low of $29.73 and a twelve month high of $63.26. The company has a 50-day simple moving average of $36.32 and a 200 day simple moving average of $38.73. The company has a quick ratio of 1.05, a current ratio of 1.91 and a debt-to-equity ratio of 0.58.
Western Digital (NASDAQ:WDC – Get Rating) last posted its quarterly earnings data on Tuesday, January 31st. The data storage provider reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.34). Western Digital had a positive return on equity of 5.78% and a negative net margin of 0.59%. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the prior year, the company earned $2.03 EPS. The company's revenue for the quarter was down 35.7% compared to the same quarter last year. On average, research analysts predict that Western Digital Co. will post -4.19 earnings per share for the current fiscal year.
About Western Digital
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Western Digital Corp. engages in the development, manufacture, marketing, and sale of data storage devices and solutions. It operates through the Flash and Hard Disk Drive segments. The Flash segment represents flash-based data storage devices. The Hard Disk Drive segment provides hard disk storage solutions.
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