Capital Investment Advisory Services LLC purchased a new position in Western Digital Corp (NASDAQ:WDC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,126 shares of the data storage provider’s stock, valued at approximately $79,000.
A number of other institutional investors have also recently made changes to their positions in WDC. BlackRock Inc. lifted its stake in shares of Western Digital by 22.3% in the 3rd quarter. BlackRock Inc. now owns 25,731,691 shares of the data storage provider’s stock worth $1,506,333,000 after purchasing an additional 4,690,847 shares during the period. Franklin Resources Inc. lifted its stake in shares of Western Digital by 3,492.6% in the 3rd quarter. Franklin Resources Inc. now owns 3,858,781 shares of the data storage provider’s stock worth $225,893,000 after purchasing an additional 3,751,373 shares during the period. Capital International Investors bought a new position in shares of Western Digital in the 3rd quarter worth approximately $140,496,000. FMR LLC lifted its stake in shares of Western Digital by 177.7% in the 3rd quarter. FMR LLC now owns 3,035,818 shares of the data storage provider’s stock worth $177,716,000 after purchasing an additional 1,942,543 shares during the period. Finally, DNB Asset Management AS lifted its stake in shares of Western Digital by 332.5% in the 4th quarter. DNB Asset Management AS now owns 2,426,523 shares of the data storage provider’s stock worth $89,709,000 after purchasing an additional 1,865,485 shares during the period. Institutional investors own 86.63% of the company’s stock.
Shares of WDC opened at $47.69 on Thursday. The company has a quick ratio of 1.45, a current ratio of 2.24 and a debt-to-equity ratio of 0.95. Western Digital Corp has a 1 year low of $33.83 and a 1 year high of $106.96. The company has a market cap of $13.62 billion, a price-to-earnings ratio of 3.53, a P/E/G ratio of 0.52 and a beta of 1.43.
Several brokerages have recently weighed in on WDC. Zacks Investment Research cut shares of Western Digital from a “hold” rating to a “sell” rating in a research note on Saturday, January 26th. ValuEngine raised shares of Western Digital from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. Royal Bank of Canada increased their target price on shares of Western Digital to $46.00 and gave the stock a “sector perform” rating in a report on Friday, January 25th. Longbow Research lowered shares of Western Digital from a “buy” rating to a “neutral” rating in a report on Friday, October 26th. Finally, Cowen reissued a “market perform” rating and issued a $50.00 target price (down from $60.00) on shares of Western Digital in a report on Thursday, December 6th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $68.22.
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Western Digital Profile
Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.
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