Western Digital Co. (NASDAQ:WDC) Shares Acquired by Corebridge Financial Inc.

Corebridge Financial Inc. boosted its position in shares of Western Digital Co. (NASDAQ:WDC) by 20.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,247 shares of the data storage provider’s stock after purchasing an additional 27,017 shares during the period. Corebridge Financial Inc.’s holdings in Western Digital were worth $9,317,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in shares of Western Digital by 278.9% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock valued at $25,000 after acquiring an additional 304 shares in the last quarter. Sierra Ocean LLC purchased a new position in Western Digital in the fourth quarter valued at about $29,000. True Wealth Design LLC grew its stake in 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 purchasing an additional 415 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new stake in Western Digital during the 4th quarter worth approximately $30,000. Finally, OFI Invest Asset Management acquired a new position in shares of Western Digital in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Insider Activity at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $41.36, for a total value of $68,616.24. Following the completion of the sale, the senior vice president now directly owns 43,776 shares in the company, valued at $1,810,575.36. This represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.30% of the stock is currently owned by insiders.

Western Digital Stock Performance

Shares of NASDAQ WDC opened at $41.91 on Friday. Western Digital Co. has a 12-month low of $39.42 and a 12-month high of $81.55. The company has a market cap of $14.58 billion, a PE ratio of 9.98 and a beta of 1.42. The stock has a 50 day simple moving average of $56.18 and a 200-day simple moving average of $62.57. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (EPS) 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%. On average, equities research analysts forecast that Western Digital Co. will post 4.89 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on WDC. Bank of America decreased their price target on shares of Western Digital from $89.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Barclays dropped their target price on shares of Western Digital from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Wedbush restated an “outperform” rating and issued a $95.00 target price on shares of Western Digital in a research note on Monday, February 10th. Susquehanna decreased their price target on Western Digital from $83.00 to $72.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Finally, Benchmark cut Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price objective on the stock. in a research note on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Western Digital currently has an average rating of “Moderate Buy” and an average price target of $80.21.

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.