Gulf International Bank UK Ltd Cuts Holdings in Western Digital Co. (NASDAQ:WDC)

Gulf International Bank UK Ltd decreased its position in Western Digital Co. (NASDAQ:WDC) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,080 shares of the data storage provider’s stock after selling 218 shares during the period. Gulf International Bank UK Ltd’s holdings in Western Digital were worth $1,495,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WDC. Versant Capital Management Inc increased its holdings in Western Digital by 278.9% in the fourth 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 stake in shares of Western Digital during the fourth quarter worth about $29,000. True Wealth Design LLC increased its stake in shares of 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 purchasing an additional 415 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Western Digital during the fourth quarter worth about $30,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Western Digital during the third quarter worth about $41,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital Stock Performance

NASDAQ:WDC opened at $48.93 on Friday. 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 firm has a market capitalization of $17.02 billion, a price-to-earnings ratio of 11.65 and a beta of 1.44. The company’s 50-day moving average is $63.42 and its two-hundred day moving average is $65.23. Western Digital Co. has a 1-year low of $39.58 and a 1-year high of $61.16.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data 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%. Analysts forecast that Western Digital Co. will post 4.89 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on WDC shares. Susquehanna cut their target price on shares of Western Digital from $83.00 to $72.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. StockNews.com started coverage on shares of Western Digital in a research note on Wednesday. They set a “buy” rating for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $95.00 target price on shares of Western Digital in a research note on Tuesday, February 18th. Wedbush reissued an “outperform” rating and set a $95.00 target price on shares of Western Digital in a research note on Monday, February 10th. Finally, Bank of America lowered 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 report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Western Digital presently has an average rating of “Moderate Buy” and a consensus price target of $83.05.

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.