Fjarde AP Fonden Fourth Swedish National Pension Fund Raises Stock Position in Western Digital Co. (NASDAQ:WDC)

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Western Digital Co. (NASDAQ:WDC) by 9.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,466 shares of the data storage provider’s stock after acquiring an additional 4,000 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Western Digital were worth $2,711,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Western Digital by 32.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,131 shares of the data storage provider’s stock worth $2,691,000 after acquiring an additional 11,013 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Western Digital by 6.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 841,700 shares of the data storage provider’s stock valued at $50,191,000 after purchasing an additional 50,188 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Western Digital by 4.0% during the fourth quarter. Principal Financial Group Inc. now owns 390,826 shares of the data storage provider’s stock valued at $23,305,000 after purchasing an additional 15,189 shares in the last quarter. Aigen Investment Management LP boosted its stake in shares of Western Digital by 124.2% during the third quarter. Aigen Investment Management LP now owns 21,412 shares of the data storage provider’s stock valued at $1,462,000 after purchasing an additional 11,860 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of Western Digital by 53.3% during the fourth quarter. Handelsbanken Fonder AB now owns 99,444 shares of the data storage provider’s stock valued at $5,930,000 after purchasing an additional 34,579 shares in the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital Trading Up 2.2 %

NASDAQ:WDC opened at $50.16 on Thursday. Western Digital Co. has a 12 month low of $39.58 and a 12 month high of $61.16. The firm has a fifty day simple moving average of $63.87 and a 200-day simple moving average of $65.41. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $17.45 billion, a P/E ratio of 11.94 and a beta of 1.44.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data 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%. On average, equities research analysts anticipate that Western Digital Co. will post 4.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WDC. Cantor Fitzgerald reiterated an “overweight” rating and set a $95.00 price objective on shares of Western Digital in a research note on Tuesday, February 18th. Wells Fargo & Company dropped their price objective on shares of Western Digital from $85.00 to $75.00 and set an “overweight” rating on the stock in a research note on Tuesday. Mizuho dropped their price objective on shares of Western Digital from $90.00 to $82.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Morgan Stanley dropped their price objective on shares of Western Digital from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, Susquehanna lowered their target price on shares of Western Digital from $83.00 to $72.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Western Digital has a consensus rating of “Moderate Buy” and a consensus price target of $83.05.

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.