Western Digital Co. (NASDAQ:WDC) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in shares of Western Digital Co. (NASDAQ:WDC) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,815 shares of the data storage provider’s stock after selling 703 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Western Digital were worth $5,070,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. American Century Companies Inc. grew its position in shares of Western Digital by 292.1% in the first quarter. American Century Companies Inc. now owns 30,302 shares of the data storage provider’s stock valued at $1,504,000 after purchasing an additional 22,573 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Western Digital in the first quarter worth approximately $57,000. Acadian Asset Management LLC grew its position in Western Digital by 1,535.0% in the first quarter. Acadian Asset Management LLC now owns 8,649 shares of the data storage provider’s stock worth $426,000 after acquiring an additional 8,120 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Western Digital by 7.0% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 41,869 shares of the data storage provider’s stock worth $2,079,000 after acquiring an additional 2,755 shares during the period. Finally, Great West Life Assurance Co. Can grew its position in Western Digital by 1.9% in the first quarter. Great West Life Assurance Co. Can now owns 197,219 shares of the data storage provider’s stock worth $10,331,000 after acquiring an additional 3,642 shares during the period. Institutional investors and hedge funds own 92.51% of the company’s stock.

Western Digital Stock Down 3.3 %

Shares of NASDAQ WDC opened at $66.05 on Monday. The stock has a market cap of $21.52 billion, a P/E ratio of -9.26 and a beta of 1.56. The company has a current ratio of 1.67, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73. Western Digital Co. has a 12-month low of $31.97 and a 12-month high of $76.92. The business’s fifty day simple moving average is $63.71 and its 200-day simple moving average is $54.26.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Monday, January 29th. The data storage provider reported ($0.69) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.30) by $0.61. The business had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3 billion. Western Digital had a negative return on equity of 19.45% and a negative net margin of 19.90%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.69) earnings per share. As a group, equities analysts predict that Western Digital Co. will post -2.21 EPS for the current fiscal year.

Insider Buying and Selling at Western Digital

In other Western Digital news, Director Kimberly Alexy sold 2,648 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.95, for a total value of $185,227.60. Following the sale, the director now directly owns 20,509 shares in the company, valued at $1,434,604.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Western Digital news, Director Kimberly Alexy sold 2,648 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.95, for a total value of $185,227.60. Following the sale, the director now directly owns 20,509 shares in the company, valued at $1,434,604.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Gene M. Zamiska sold 443 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $75.00, for a total value of $33,225.00. Following the completion of the sale, the senior vice president now owns 30,958 shares in the company, valued at $2,321,850. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Rosenblatt Securities upgraded Western Digital from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th. UBS Group raised their price target on Western Digital from $65.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. StockNews.com lowered Western Digital from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. Evercore ISI assumed coverage on Western Digital in a research report on Wednesday, March 27th. They set an “outperform” rating and a $80.00 price target for the company. Finally, Barclays raised their price target on Western Digital from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.17.

Western Digital Company 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.