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

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Western Digital Co. (NASDAQ:WDC) by 9.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Versant Capital Management Inc lifted its stake in shares of Western Digital by 278.9% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock valued at $25,000 after buying an additional 304 shares in the last quarter. Sierra Ocean LLC purchased a new position in shares of Western Digital during the 4th quarter valued at $29,000. True Wealth Design LLC lifted its stake in shares of Western Digital by 2,184.2% during the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock valued at $30,000 after buying an additional 415 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Western Digital during the 4th quarter valued at $30,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Western Digital during the 3rd quarter valued at $41,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital Stock Performance

Western Digital stock opened at $50.16 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26. Western Digital Co. has a 1-year low of $39.58 and a 1-year high of $61.16. The firm has a market capitalization of $17.45 billion, a P/E ratio of 11.94 and a beta of 1.44. The company’s 50-day moving average is $63.87 and its 200 day moving average is $65.41.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. Research analysts forecast that Western Digital Co. will post 4.89 EPS for the current year.

Analysts Set New Price Targets

WDC has been the topic of a number of analyst reports. Benchmark cut shares of Western Digital from a “buy” rating to a “hold” rating and set a $70.00 target price on the stock. in a research note on Thursday, December 19th. Morgan Stanley decreased their price target 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. Barclays decreased their price target on shares of Western Digital from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. StockNews.com assumed coverage on shares of Western Digital in a research note on Wednesday. They issued a “buy” rating on the stock. Finally, Bank of America decreased their price target on shares of Western Digital from $89.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.05.

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.