Corient Private Wealth LLC Has $1.77 Million Holdings in Western Digital Co. (NASDAQ:WDC)

Corient Private Wealth LLC decreased its holdings in shares of Western Digital Co. (NASDAQ:WDC) by 20.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,738 shares of the data storage provider’s stock after selling 7,528 shares during the quarter. Corient Private Wealth LLC’s holdings in Western Digital were worth $1,773,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of WDC. M & L Capital Management Ltd acquired a new stake in Western Digital during the 4th quarter worth $221,000. Parnassus Investments LLC boosted its position in shares of Western Digital by 24.5% in the 4th quarter. Parnassus Investments LLC now owns 2,980,047 shares of the data storage provider’s stock worth $177,700,000 after purchasing an additional 586,924 shares during the last quarter. Swiss National Bank grew its stake in shares of Western Digital by 0.8% during the fourth quarter. Swiss National Bank now owns 976,507 shares of the data storage provider’s stock worth $58,229,000 after purchasing an additional 7,500 shares during the period. Avantax Advisory Services Inc. lifted its stake in Western Digital by 8.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 5,503 shares of the data storage provider’s stock valued at $328,000 after buying an additional 439 shares during the period. Finally, Securian Asset Management Inc. lifted its stake in Western Digital by 2.9% in the fourth quarter. Securian Asset Management Inc. now owns 18,579 shares of the data storage provider’s stock valued at $1,108,000 after buying an additional 531 shares during the period. 92.51% of the stock is owned by institutional investors.

Western Digital Stock Performance

Shares of WDC stock opened at $44.31 on Tuesday. Western Digital Co. has a 12 month low of $39.42 and a 12 month high of $81.55. The company’s fifty day simple moving average is $57.45 and its 200-day simple moving average is $62.98. The firm has a market cap of $15.41 billion, a PE ratio of 10.55 and a beta of 1.42. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. Equities research analysts expect that Western Digital Co. will post 4.89 EPS for the current fiscal year.

Insider Buying and Selling

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $41.36, for a total transaction of $68,616.24. Following the transaction, the senior vice president now owns 43,776 shares of the company’s stock, valued at $1,810,575.36. The trade was a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WDC shares. Citigroup upped their price target on Western Digital from $60.45 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Cantor Fitzgerald lowered their target price on shares of Western Digital from $95.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Mizuho reduced their price target on shares of Western Digital from $90.00 to $82.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Wedbush reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Western Digital in a research note on Monday, February 10th. Finally, Rosenblatt Securities decreased their target price on Western Digital from $115.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.21.

About Western Digital

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.