Swiss National Bank Cuts Holdings in Western Digital Co. (NASDAQ:WDC)

Swiss National Bank decreased its position in Western Digital Co. (NASDAQ:WDCFree Report) by 10.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,029,107 shares of the data storage provider’s stock after selling 124,000 shares during the period. Swiss National Bank owned about 0.32% of Western Digital worth $46,958,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Western Digital during the third quarter worth about $4,438,000. Kestra Private Wealth Services LLC purchased a new stake in shares of Western Digital during the third quarter worth about $244,000. Qsemble Capital Management LP purchased a new stake in shares of Western Digital during the third quarter worth about $392,000. Metis Global Partners LLC increased its stake in shares of Western Digital by 17.7% during the third quarter. Metis Global Partners LLC now owns 17,038 shares of the data storage provider’s stock worth $777,000 after purchasing an additional 2,561 shares in the last quarter. Finally, Savant Capital LLC purchased a new stake in shares of Western Digital during the third quarter worth about $284,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Wedbush reissued an “outperform” rating and set a $60.00 target price on shares of Western Digital in a research note on Thursday, October 26th. Summit Insights upgraded shares of Western Digital from a “hold” rating to a “buy” rating in a research report on Monday, October 30th. TD Cowen boosted their price target on shares of Western Digital from $50.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Cantor Fitzgerald assumed coverage on shares of Western Digital in a research report on Tuesday, January 23rd. They set an “overweight” rating and a $70.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price target on shares of Western Digital from $48.00 to $58.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Western Digital has an average rating of “Moderate Buy” and an average target price of $59.29.

Check Out Our Latest Stock Analysis on WDC

Western Digital Stock Performance

NASDAQ:WDC opened at $57.94 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 1.67. The stock has a market capitalization of $18.65 billion, a P/E ratio of -8.13 and a beta of 1.57. The company has a 50 day moving average price of $52.54 and a 200 day moving average price of $46.70. Western Digital Co. has a fifty-two week low of $31.97 and a fifty-two week high of $60.55.

Western Digital (NASDAQ:WDCGet Free Report) last released its earnings results on Monday, January 29th. The data storage provider reported ($0.69) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.30) by $0.61. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3 billion. Western Digital had a negative net margin of 19.90% and a negative return on equity of 19.49%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.69) EPS. Equities research analysts forecast that Western Digital Co. will post -2.81 EPS for the current year.

Western Digital Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Western Digital (NASDAQ:WDC)

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