Chevy Chase Trust Holdings LLC Buys 6,331 Shares of Western Digital Co. (NASDAQ:WDC)

Chevy Chase Trust Holdings LLC raised its stake in Western Digital Co. (NASDAQ:WDC) by 3.6% in the fourth quarter, Holdings Channel reports. The fund owned 181,411 shares of the data storage provider’s stock after purchasing an additional 6,331 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Western Digital were worth $10,818,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. State Street Corp lifted its holdings 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 worth $926,879,000 after acquiring an additional 423,651 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Western Digital by 1.0% in the third 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 holdings in shares of Western Digital by 24.6% in the third 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 worth $253,453,000 after acquiring an additional 732,344 shares during the last quarter. Maple Rock Capital Partners Inc. lifted its holdings in shares of Western Digital by 13.2% in the third quarter. Maple Rock Capital Partners Inc. now owns 3,287,400 shares of the data storage provider’s stock worth $224,497,000 after acquiring an additional 383,390 shares during the last quarter. Finally, Holocene Advisors LP lifted its holdings 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 acquiring an additional 651,847 shares during the last quarter. Institutional investors own 92.51% of the company’s stock.

Western Digital Stock Performance

Shares of WDC stock opened at $68.39 on Monday. The firm has a market capitalization of $23.79 billion, a PE ratio of 16.28 and a beta of 1.44. The firm has a fifty day simple moving average of $64.55 and a two-hundred day simple moving average of $65.21. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60. Western Digital Co. has a 12 month low of $52.77 and a 12 month high of $81.55.

Western Digital (NASDAQ:WDC) last announced 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 net margin of 9.95% and a return on equity of 15.68%. Analysts forecast that Western Digital Co. will post 4.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wedbush reiterated an “outperform” rating and issued a $95.00 price objective on shares of Western Digital in a report on Monday, February 10th. Rosenblatt Securities dropped their price objective on shares of Western Digital from $115.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $95.00 price objective on shares of Western Digital in a report on Monday, February 10th. Benchmark lowered shares of Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price objective for the company. in a report on Thursday, December 19th. Finally, Barclays dropped their price objective on shares of Western Digital from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $84.42.

Insider Buying and Selling at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 658 shares of Western Digital stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total transaction of $46,053.42. Following the transaction, the senior vice president now directly owns 28,863 shares of the company’s stock, valued at $2,020,121.37. The trade was a 2.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 1,347 shares of company stock worth $93,027. 0.30% of the stock is owned by corporate insiders.

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.