Canada Pension Plan Investment Board increased its holdings in shares of Western Digital Co. (NASDAQ:WDC – Free Report) by 4.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 323,600 shares of the data storage provider’s stock after acquiring an additional 12,667 shares during the period. Canada Pension Plan Investment Board owned approximately 0.10% of Western Digital worth $14,766,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. ST Germain D J Co. Inc. purchased a new position in shares of Western Digital in the second quarter valued at approximately $26,000. Janiczek Wealth Management LLC acquired a new position in Western Digital in the 3rd quarter valued at $28,000. Massmutual Trust Co. FSB ADV lifted its holdings in Western Digital by 38.4% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 915 shares of the data storage provider’s stock valued at $35,000 after purchasing an additional 254 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Western Digital during the third quarter worth $41,000. Finally, Childress Capital Advisors LLC acquired a new stake in shares of Western Digital in the second quarter valued at about $45,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.
Western Digital Stock Performance
Shares of WDC opened at $56.82 on Monday. The company’s 50 day simple moving average is $52.89 and its 200-day simple moving average is $47.01. The firm has a market cap of $18.29 billion, a PE ratio of -7.97 and a beta of 1.57. Western Digital Co. has a 12-month low of $31.97 and a 12-month high of $60.55. The company has a current ratio of 1.67, a quick ratio of 0.98 and a debt-to-equity ratio of 0.74.
Analyst Upgrades and Downgrades
WDC has been the subject of a number of recent research reports. Morgan Stanley raised their target price on Western Digital from $52.00 to $73.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. The Goldman Sachs Group increased 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. StockNews.com lowered shares of Western Digital from a “hold” rating to a “sell” rating in a research report on Thursday. Fox Advisors upgraded Western Digital from an “equal weight” rating to an “overweight” rating and set a $52.00 price objective for the company in a research report on Tuesday, October 31st. Finally, TD Cowen lifted their target price on Western Digital from $50.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.29.
Western Digital 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.
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