Western Digital Co. (NASDAQ:WDC) Shares Acquired by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. raised its stake in shares of Western Digital Co. (NASDAQ:WDC – Get Rating) by 78.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 400,784 shares of the data storage provider’s stock after buying an additional 176,650 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Western Digital were worth $13,045,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wipfli Financial Advisors LLC bought a new stake in shares of Western Digital in the 3rd quarter worth $28,000. Ronald Blue Trust Inc. grew its holdings in Western Digital by 299.4% during the third quarter. Ronald Blue Trust Inc. now owns 659 shares of the data storage provider’s stock worth $30,000 after acquiring an additional 494 shares during the period. Quadrant Capital Group LLC raised its position in Western Digital by 107.3% in the second quarter. Quadrant Capital Group LLC now owns 883 shares of the data storage provider’s stock worth $40,000 after acquiring an additional 457 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Western Digital in the 3rd quarter valued at about $40,000. Finally, SeaCrest Wealth Management LLC bought a new position in shares of Western Digital during the 2nd quarter valued at about $51,000. 85.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on WDC. Raymond James started coverage on shares of Western Digital in a report on Wednesday, March 1st. They issued an “outperform” rating and a $46.00 target price on the stock. Craig Hallum increased their price objective on Western Digital from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, February 1st. The Goldman Sachs Group lowered Western Digital from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $43.00 to $31.00 in a research note on Thursday, December 15th. BNP Paribas upgraded Western Digital from an “underperform” rating to a “neutral” rating and set a $42.00 target price on the stock in a report on Monday, January 23rd. Finally, StockNews.com started coverage on Western Digital in a report on Thursday. They issued a “sell” rating on the stock. Three analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $50.19.

Western Digital Stock Performance

Shares of WDC stock opened at $35.08 on Friday. Western Digital Co. has a 1-year low of $29.73 and a 1-year high of $63.26. The company has a current ratio of 1.91, a quick ratio of 1.05 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $11.20 billion, a price-to-earnings ratio of -120.97 and a beta of 1.68. The stock’s fifty day simple moving average is $39.86 and its 200-day simple moving average is $37.14.

Western Digital (NASDAQ:WDC – Get Rating) last issued its quarterly earnings results on Tuesday, January 31st. The data storage provider reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.34). Western Digital had a negative net margin of 0.59% and a positive return on equity of 5.78%. The business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter in the prior year, the firm posted $2.03 EPS. The business’s quarterly revenue was down 35.7% compared to the same quarter last year. On average, sell-side analysts predict that Western Digital Co. will post -4.13 earnings per share for the current fiscal year.

About Western Digital

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Western Digital Corp. engages in the development, manufacture, marketing, and sale of data storage devices and solutions. It operates through the Flash and Hard Disk Drive segments. The Flash segment represents flash-based data storage devices. The Hard Disk Drive segment provides hard disk storage solutions.