Western Digital Co. (NASDAQ:WDC) Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. lowered its stake in shares of Western Digital Co. (NASDAQ:WDC) by 11.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,326 shares of the data storage provider’s stock after selling 6,301 shares during the period. Dana Investment Advisors Inc.’s holdings in Western Digital were worth $2,882,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its stake in Western Digital by 278.9% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock worth $25,000 after buying an additional 304 shares during the last quarter. Sierra Ocean LLC acquired a new position in Western Digital during the fourth quarter worth $29,000. True Wealth Design LLC boosted its stake in Western Digital by 2,184.2% during the third quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock worth $30,000 after buying an additional 415 shares during the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in Western Digital during the fourth quarter worth $30,000. Finally, Capital Performance Advisors LLP acquired a new position in Western Digital during the third quarter worth $41,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Susquehanna lowered their price objective on Western Digital from $83.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Barclays reduced their target price on Western Digital from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Morgan Stanley reduced their target price on Western Digital from $100.00 to $93.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. StockNews.com assumed coverage on Western Digital in a research report on Wednesday, February 26th. They issued a “buy” rating on the stock. Finally, Mizuho reduced their target price on Western Digital from $90.00 to $82.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.47.

Western Digital Trading Up 0.6 %

WDC opened at $41.70 on Friday. Western Digital Co. has a 12 month low of $39.58 and a 12 month high of $61.16. The stock has a market capitalization of $14.50 billion, a price-to-earnings ratio of 9.93 and a beta of 1.42. 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 business has a fifty day moving average price of $62.03 and a 200 day moving average price of $64.70.

Western Digital (NASDAQ:WDC) last released its earnings results 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%. Sell-side analysts expect that Western Digital Co. will post 4.89 earnings per share for the current fiscal 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.