Robeco Institutional Asset Management B.V. Has $1.80 Million Position in Western Digital Co. (NASDAQ:WDC)

Robeco Institutional Asset Management B.V. lowered its stake in Western Digital Co. (NASDAQ:WDC) by 77.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,402 shares of the data storage provider’s stock after selling 90,092 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Western Digital were worth $1,803,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of WDC. AGF Management Ltd. boosted its stake in Western Digital by 28,925.8% in the second quarter. AGF Management Ltd. now owns 2,202,190 shares of the data storage provider’s stock valued at $166,860,000 after acquiring an additional 2,194,603 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in Western Digital by 247.0% in the second quarter. 1832 Asset Management L.P. now owns 1,446,509 shares of the data storage provider’s stock valued at $109,602,000 after acquiring an additional 1,029,658 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Western Digital by 1,089.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,071,600 shares of the data storage provider’s stock valued at $73,126,000 after acquiring an additional 981,527 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Western Digital by 39.6% in the second quarter. Bank of New York Mellon Corp now owns 2,861,229 shares of the data storage provider’s stock valued at $216,795,000 after acquiring an additional 810,977 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in Western Digital by 304.9% in the second quarter. Marshall Wace LLP now owns 709,386 shares of the data storage provider’s stock valued at $53,750,000 after acquiring an additional 534,168 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WDC. Benchmark reaffirmed a “buy” rating and issued a $92.00 price objective on shares of Western Digital in a research note on Friday, October 25th. Rosenblatt Securities reissued a “buy” rating and set a $115.00 price target on shares of Western Digital in a research report on Friday, October 25th. Susquehanna lifted their price target on shares of Western Digital from $75.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. BNP Paribas reduced their price target on shares of Western Digital from $95.00 to $90.00 in a research report on Thursday, October 24th. Finally, Summit Insights cut shares of Western Digital from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.71.

Western Digital Stock Down 1.2 %

Shares of WDC stock opened at $69.61 on Friday. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49. Western Digital Co. has a 1 year low of $43.58 and a 1 year high of $81.55. The firm’s fifty day moving average price is $66.20 and its two-hundred day moving average price is $69.52. The firm has a market capitalization of $24.06 billion, a P/E ratio of 40.95 and a beta of 1.40.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, October 24th. The data storage provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.23. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same period in the previous year, the business earned ($1.97) EPS. The company’s revenue was up 48.9% compared to the same quarter last year. On average, equities analysts predict that Western Digital Co. will post 6.56 EPS for the current fiscal year.

Insider Transactions at Western Digital

In other news, SVP Gene M. Zamiska sold 2,900 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $61.48, for a total transaction of $178,292.00. Following the transaction, the senior vice president now directly owns 37,448 shares in the company, valued at $2,302,303.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Gene M. Zamiska sold 2,900 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $61.48, for a total transaction of $178,292.00. Following the transaction, the senior vice president now directly owns 37,448 shares in the company, valued at $2,302,303.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Gene M. Zamiska sold 417 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total transaction of $27,059.13. Following the transaction, the senior vice president now owns 28,870 shares in the company, valued at $1,873,374.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 188,561 shares of company stock worth $13,309,042 in the last ninety days. Insiders own 0.30% of the company’s stock.

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.