Amalgamated Bank Buys 1,711 Shares of Western Digital Co. (NASDAQ:WDC)

Amalgamated Bank boosted its position in Western Digital Co. (NASDAQ:WDC) by 2.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,857 shares of the data storage provider’s stock after buying an additional 1,711 shares during the period. Amalgamated Bank’s holdings in Western Digital were worth $3,927,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WDC. State Street Corp lifted its stake in shares of Western Digital by 3.2% in the third quarter. State Street Corp now owns 13,572,686 shares of the data storage provider’s stock valued at $926,879,000 after buying an additional 423,651 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 worth $539,355,000 after acquiring an additional 76,781 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Western Digital by 24.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,711,428 shares of the data storage provider’s stock valued at $253,453,000 after acquiring an additional 732,344 shares in the last quarter. Maple Rock Capital Partners Inc. increased its holdings in 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. Finally, Holocene Advisors LP raised its stake in shares of Western Digital by 25.7% in the third quarter. Holocene Advisors LP now owns 3,192,762 shares of the data storage provider’s stock worth $218,034,000 after purchasing an additional 651,847 shares during the last quarter. 92.51% of the stock is owned by institutional investors.

Western Digital Stock Performance

Shares of WDC opened at $48.93 on Friday. 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 firm has a market cap of $17.02 billion, a PE ratio of 11.65 and a beta of 1.44. Western Digital Co. has a 1 year low of $39.58 and a 1 year high of $61.16. The stock’s fifty day moving average price is $63.42 and its two-hundred day moving average price is $65.21.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a net margin of 9.95% and a return on equity of 15.68%. On average, equities research analysts forecast that Western Digital Co. will post 4.89 EPS for the current year.

Analysts Set New Price Targets

WDC has been the topic of several analyst reports. StockNews.com began coverage on Western Digital in a research report on Wednesday. They set a “buy” rating on the stock. Citigroup lifted their price objective on shares of Western Digital from $60.45 to $64.00 and gave the stock a “buy” rating in a report on Tuesday. Benchmark downgraded shares of Western Digital from a “buy” rating to a “hold” rating and set a $70.00 target price for the company. in a report on Thursday, December 19th. Robert W. Baird cut their price target on shares of Western Digital from $100.00 to $80.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. Finally, Mizuho reduced their price objective on shares of Western Digital from $90.00 to $82.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.05.

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.