Belpointe Asset Management LLC Purchases Shares of 1,543 Western Digital Co. (NASDAQ:WDC)

Belpointe Asset Management LLC purchased a new stake in shares of Western Digital Co. (NASDAQ:WDC – Get Rating) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,543 shares of the data storage provider’s stock, valued at approximately $49,000.

Other hedge funds have also added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Western Digital by 43.9% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 332,723 shares of the data storage provider’s stock worth $10,497,000 after buying an additional 101,465 shares in the last quarter. Clark Estates Inc. NY acquired a new stake in shares of Western Digital during the fourth quarter worth $2,739,000. Desjardins Global Asset Management Inc. lifted its holdings in shares of Western Digital by 7.2% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 9,593 shares of the data storage provider’s stock worth $302,000 after buying an additional 644 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Western Digital by 3.5% during the fourth quarter. Arizona State Retirement System now owns 89,019 shares of the data storage provider’s stock worth $2,809,000 after buying an additional 3,033 shares in the last quarter. Finally, Texas Permanent School Fund lifted its holdings in shares of Western Digital by 4.9% during the fourth quarter. Texas Permanent School Fund now owns 45,541 shares of the data storage provider’s stock worth $1,437,000 after buying an additional 2,110 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WDC shares. JPMorgan Chase & Co. decreased their price target on Western Digital from $45.00 to $40.00 in a research report on Tuesday, May 9th. StockNews.com started coverage on Western Digital in a research report on Thursday, March 16th. They issued a “sell” rating on the stock. UBS Group decreased their price target on Western Digital from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, April 24th. Raymond James started coverage on Western Digital in a research report on Wednesday, March 1st. They issued an “outperform” rating and a $46.00 price target on the stock. Finally, Bank of America decreased their price target on Western Digital from $50.00 to $41.00 in a research report on Tuesday, May 9th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Western Digital currently has a consensus rating of “Hold” and an average target price of $46.67.

Western Digital Stock Performance

Shares of WDC stock opened at $37.80 on Wednesday. The business’s 50-day moving average price is $35.24 and its 200-day moving average price is $36.70. Western Digital Co. has a 12 month low of $29.73 and a 12 month high of $63.00. The firm has a market capitalization of $12.09 billion, a price-to-earnings ratio of -17.26 and a beta of 1.69. The company has a current ratio of 1.61, a quick ratio of 0.86 and a debt-to-equity ratio of 0.51.

Western Digital Profile

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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.