Western Digital Co. (NASDAQ:WDC) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its position in Western Digital Co. (NASDAQ:WDCFree Report) by 71.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 565,377 shares of the data storage provider’s stock after selling 1,429,686 shares during the period. Assenagon Asset Management S.A. owned 0.18% of Western Digital worth $29,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WDC. ST Germain D J Co. Inc. acquired a new stake in Western Digital during the 2nd quarter worth about $26,000. Janiczek Wealth Management LLC purchased a new stake in shares of Western Digital during the 3rd quarter worth about $28,000. Parkside Financial Bank & Trust boosted its stake in shares of Western Digital by 79.1% during the 3rd quarter. Parkside Financial Bank & Trust now owns 747 shares of the data storage provider’s stock worth $34,000 after acquiring an additional 330 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Western Digital during the 3rd quarter worth about $41,000. Finally, CVA Family Office LLC purchased a new position in Western Digital in the 4th quarter valued at about $41,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Western Digital Stock Performance

Shares of WDC stock opened at $68.15 on Wednesday. The stock’s 50-day moving average is $58.96 and its two-hundred day moving average is $50.95. The firm has a market cap of $22.21 billion, a price-to-earnings ratio of -9.56 and a beta of 1.55. Western Digital Co. has a 1 year low of $31.97 and a 1 year high of $69.28. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.67.

Western Digital (NASDAQ:WDCGet Free Report) last released its quarterly 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. Western Digital had a negative return on equity of 19.45% and a negative net margin of 19.90%. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter last year, the company posted ($0.69) earnings per share. The business’s revenue was down 2.4% on a year-over-year basis. Analysts predict that Western Digital Co. will post -2.31 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on WDC shares. The Goldman Sachs Group raised their price target on shares of Western Digital from $48.00 to $58.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Morgan Stanley increased their price objective on shares of Western Digital from $52.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, January 22nd. Wells Fargo & Company increased their price objective on shares of Western Digital from $62.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, January 26th. UBS Group raised their price target on shares of Western Digital from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Finally, StockNews.com downgraded shares of Western Digital from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Check Out Our Latest Stock Analysis on WDC

About Western Digital

(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.

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

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