Highland Peak Capital LLC Boosts Stock Holdings in Western Digital Co. (NASDAQ:WDC)

Highland Peak Capital LLC boosted its stake in Western Digital Co. (NASDAQ:WDC) by 122.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 211,851 shares of the data storage provider’s stock after acquiring an additional 116,601 shares during the quarter. Western Digital accounts for 6.9% of Highland Peak Capital LLC’s portfolio, making the stock its 4th largest position. Highland Peak Capital LLC owned approximately 0.06% of Western Digital worth $12,633,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in Western Digital by 32.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,131 shares of the data storage provider’s stock valued at $2,691,000 after acquiring an additional 11,013 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Western Digital by 6.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 841,700 shares of the data storage provider’s stock valued at $50,191,000 after acquiring an additional 50,188 shares in the last quarter. Principal Financial Group Inc. lifted its position in Western Digital by 4.0% in the 4th quarter. Principal Financial Group Inc. now owns 390,826 shares of the data storage provider’s stock valued at $23,305,000 after acquiring an additional 15,189 shares in the last quarter. Ieq Capital LLC lifted its position in Western Digital by 83.9% in the 4th quarter. Ieq Capital LLC now owns 31,634 shares of the data storage provider’s stock valued at $1,886,000 after acquiring an additional 14,432 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in Western Digital by 53.3% in the 4th quarter. Handelsbanken Fonder AB now owns 99,444 shares of the data storage provider’s stock valued at $5,930,000 after acquiring an additional 34,579 shares in the last quarter. 92.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on WDC. Citigroup boosted their price target on shares of Western Digital from $60.45 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. The Goldman Sachs Group boosted their price target on shares of Western Digital from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Susquehanna cut their price target on shares of Western Digital from $83.00 to $72.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Morgan Stanley cut 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 report on Thursday, December 19th. Finally, Mizuho lowered their price objective on shares of Western Digital from $90.00 to $82.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $81.47.

Western Digital Trading Up 0.6 %

NASDAQ:WDC opened at $41.70 on Monday. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60. 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 firm has a fifty day simple moving average of $61.65 and a two-hundred day simple moving average of $64.53. Western Digital Co. has a 12 month low of $39.58 and a 12 month high of $61.16.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 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%. Analysts expect that Western Digital Co. will post 4.89 EPS for the current fiscal year.

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.