Sumitomo Mitsui Trust Holdings Inc. grew its position in Western Digital Co. (NASDAQ:WDC – Free Report) by 8.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 892,338 shares of the data storage provider’s stock after purchasing an additional 70,057 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Western Digital were worth $67,612,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rise Advisors LLC purchased a new stake in Western Digital during the 1st quarter valued at $25,000. Naples Money Management LLC purchased a new position in Western Digital in the 4th quarter worth about $26,000. Fidelis Capital Partners LLC bought a new position in Western Digital during the 1st quarter valued at about $30,000. SOA Wealth Advisors LLC. purchased a new stake in shares of Western Digital during the 1st quarter valued at about $31,000. Finally, Lindbrook Capital LLC grew its stake in shares of Western Digital by 121.7% in the fourth quarter. Lindbrook Capital LLC now owns 614 shares of the data storage provider’s stock worth $32,000 after acquiring an additional 337 shares during the period. Institutional investors own 92.51% of the company’s stock.
Western Digital Price Performance
Shares of NASDAQ:WDC traded up $0.55 during midday trading on Friday, reaching $64.05. 4,496,876 shares of the company were exchanged, compared to its average volume of 6,604,057. The stock has a market cap of $20.91 billion, a PE ratio of -12.89 and a beta of 1.37. The business’s fifty day moving average is $71.58 and its two-hundred day moving average is $68.37. Western Digital Co. has a one year low of $35.62 and a one year high of $81.55. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.51.
Insider Buying and Selling at Western Digital
Analyst Upgrades and Downgrades
WDC has been the topic of several research reports. Loop Capital raised their target price on shares of Western Digital from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Robert W. Baird lifted their price objective on Western Digital from $65.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Evercore ISI reissued an “outperform” rating and issued a $85.00 target price on shares of Western Digital in a report on Thursday. Morgan Stanley raised their target price on Western Digital from $83.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $115.00 price target on shares of Western Digital in a research report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $84.18.
Check Out Our Latest Research Report on WDC
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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