UniSuper Management Pty Ltd Grows Stock Holdings in Western Digital Co. (NASDAQ:WDC)

UniSuper Management Pty Ltd boosted its holdings in Western Digital Co. (NASDAQ:WDC) by 8.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,216 shares of the data storage provider’s stock after buying an additional 6,212 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Western Digital were worth $4,724,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Elo Mutual Pension Insurance Co lifted its position in shares of Western Digital by 8.8% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 31,569 shares of the data storage provider’s stock worth $1,882,000 after buying an additional 2,565 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Western Digital by 14.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 543,701 shares of the data storage provider’s stock worth $34,835,000 after acquiring an additional 67,049 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in Western Digital by 4.1% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 156,763 shares of the data storage provider’s stock valued at $9,348,000 after acquiring an additional 6,129 shares during the last quarter. Corebridge Financial Inc. boosted its stake in Western Digital by 20.9% in the fourth quarter. Corebridge Financial Inc. now owns 156,247 shares of the data storage provider’s stock valued at $9,317,000 after acquiring an additional 27,017 shares in the last quarter. Finally, Mountain Hill Investment Partners Corp. purchased a new position in shares of Western Digital during the fourth quarter worth about $4,791,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WDC. Citigroup upped their target price on Western Digital from $60.45 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Bank of America decreased their price objective on Western Digital from $89.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Susquehanna cut their target price on shares of Western Digital from $83.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Wells Fargo & Company decreased their price target on shares of Western Digital from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Finally, Morgan Stanley lowered their price target on Western Digital from $100.00 to $93.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $80.21.

Western Digital Trading Down 3.1 %

Western Digital stock opened at $40.62 on Friday. The stock has a market cap of $14.13 billion, a PE ratio of 9.67 and a beta of 1.42. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average price of $55.69 and a 200 day moving average price of $62.42. Western Digital Co. has a 52 week low of $39.42 and a 52 week high of $81.55.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data 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 net margin of 9.95% and a return on equity of 15.68%. Equities research analysts predict that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.

Insider Transactions at Western Digital

In related news, SVP Gene M. Zamiska sold 1,659 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $41.36, for a total transaction of $68,616.24. Following the completion of the transaction, the senior vice president now owns 43,776 shares of the company’s stock, valued at approximately $1,810,575.36. This represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.30% of the company’s stock.

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.