Yousif Capital Management LLC Raises Stock Position in Western Digital Co. (NASDAQ:WDC)

Yousif Capital Management LLC raised its position in Western Digital Co. (NASDAQ:WDC) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,595 shares of the data storage provider’s stock after purchasing an additional 1,117 shares during the quarter. Yousif Capital Management LLC’s holdings in Western Digital were worth $2,778,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Retirement Systems of Alabama grew its stake in shares of Western Digital by 4.9% in the fourth quarter. Retirement Systems of Alabama now owns 74,848 shares of the data storage provider’s stock valued at $4,463,000 after buying an additional 3,510 shares in the last quarter. Mather Group LLC. grew its position in Western Digital by 7.0% in the 4th quarter. Mather Group LLC. now owns 2,416 shares of the data storage provider’s stock valued at $144,000 after acquiring an additional 159 shares in the last quarter. S.A. Mason LLC purchased a new stake in Western Digital during the fourth quarter worth about $45,000. Forsta AP Fonden lifted its position in shares of Western Digital by 4.4% during the fourth quarter. Forsta AP Fonden now owns 71,500 shares of the data storage provider’s stock worth $4,264,000 after purchasing an additional 3,000 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of Western Digital by 1.1% in the fourth quarter. KBC Group NV now owns 280,116 shares of the data storage provider’s stock valued at $16,703,000 after purchasing an additional 3,106 shares during the period. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Insider Buying and Selling at Western Digital

In other news, SVP Gene M. Zamiska sold 658 shares of Western Digital stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total value of $46,053.42. Following the sale, the senior vice president now owns 28,863 shares of the company’s stock, valued at $2,020,121.37. The trade was a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 1,347 shares of company stock worth $93,027. 0.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on WDC shares. Bank of America dropped their price target on shares of Western Digital from $89.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Wedbush restated an “outperform” rating and set a $95.00 price target on shares of Western Digital in a report on Thursday, January 30th. UBS Group decreased their price objective on Western Digital from $78.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Rosenblatt Securities cut their target price on shares of Western Digital from $115.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company lowered their target price on shares of Western Digital from $95.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Western Digital has a consensus rating of “Moderate Buy” and an average price target of $84.21.

Western Digital Stock Down 0.0 %

Shares of NASDAQ:WDC opened at $64.46 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26. The stock has a market cap of $22.42 billion, a P/E ratio of 15.35 and a beta of 1.44. Western Digital Co. has a 1-year low of $52.77 and a 1-year high of $81.55. The firm has a fifty day moving average price of $64.94 and a 200 day moving average price of $65.14.

Western Digital (NASDAQ:WDC) last announced its earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share 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%. Sell-side analysts predict that Western Digital Co. will post 4.89 EPS for the current year.

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.