Levin Capital Strategies L.P. Takes $537,000 Position in Western Digital Co. (NASDAQ:WDC)

Levin Capital Strategies L.P. acquired a new stake in Western Digital Co. (NASDAQ:WDC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 9,000 shares of the data storage provider’s stock, valued at approximately $537,000.

Other hedge funds also recently modified their holdings of the company. Metis Global Partners LLC grew its holdings in Western Digital by 11.1% during the fourth quarter. Metis Global Partners LLC now owns 17,092 shares of the data storage provider’s stock worth $1,019,000 after purchasing an additional 1,705 shares during the period. SVB Wealth LLC bought a new position in Western Digital during the fourth quarter worth about $337,000. Mutual of America Capital Management LLC grew its holdings in Western Digital by 3.0% during the fourth quarter. Mutual of America Capital Management LLC now owns 41,409 shares of the data storage provider’s stock worth $2,469,000 after purchasing an additional 1,205 shares during the period. Versor Investments LP bought a new position in Western Digital during the fourth quarter worth about $1,336,000. Finally, Proficio Capital Partners LLC bought a new position in Western Digital during the fourth quarter worth about $3,541,000. Institutional investors own 92.51% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on WDC. Mizuho reduced their price target on Western Digital from $90.00 to $82.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Citigroup raised their price objective on shares of Western Digital from $60.45 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Bank of America cut their price objective 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. Wells Fargo & Company cut their price objective on shares of Western Digital from $85.00 to $75.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. Finally, UBS Group lifted their price target on shares of Western Digital from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.05.

Western Digital Stock Performance

NASDAQ WDC opened at $48.93 on Friday. The firm’s fifty day moving average price is $63.42 and its two-hundred day moving average price is $65.23. The stock 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 fifty-two week low of $39.58 and a fifty-two week high of $61.16. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99.

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

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.