Dendur Capital LP Takes $29.46 Million Position in Western Digital Co. (NASDAQ:WDC)

Dendur Capital LP acquired a new stake in Western Digital Co. (NASDAQ:WDC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 494,000 shares of the data storage provider's stock, valued at approximately $29,457,000. Western Digital comprises 3.0% of Dendur Capital LP's investment portfolio, making the stock its 12th largest holding. Dendur Capital LP owned 0.14% of Western Digital at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Mather Group LLC. grew its holdings in shares of Western Digital by 7.0% in the 4th quarter. Mather Group LLC. now owns 2,416 shares of the data storage provider's stock valued at $144,000 after acquiring an additional 159 shares in the last quarter. Vontobel Holding Ltd. boosted its position in Western Digital by 1.4% during the fourth quarter. Vontobel Holding Ltd. now owns 11,804 shares of the data storage provider's stock valued at $704,000 after purchasing an additional 164 shares during the last quarter. Inspire Investing LLC grew its stake in Western Digital by 4.3% in the fourth quarter. Inspire Investing LLC now owns 4,324 shares of the data storage provider's stock valued at $258,000 after purchasing an additional 177 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Western Digital by 1.1% during the 4th quarter. Louisiana State Employees Retirement System now owns 18,600 shares of the data storage provider's stock worth $1,109,000 after purchasing an additional 200 shares during the last quarter. Finally, Beta Wealth Group Inc. raised its stake in shares of Western Digital by 2.5% during the 4th quarter. Beta Wealth Group Inc. now owns 8,300 shares of the data storage provider's stock worth $495,000 after purchasing an additional 200 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WDC. Robert W. Baird lowered their target price on shares of Western Digital from $100.00 to $80.00 and set an "outperform" rating on the stock in a report on Thursday, January 30th. Bank of America lowered their price objective 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. Benchmark upgraded shares of Western Digital from a "hold" rating to a "buy" rating and set a $55.00 target price for the company in a research note on Thursday, April 10th. UBS Group lowered their price target on Western Digital from $74.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Finally, Susquehanna cut their price objective on Western Digital from $72.00 to $40.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $73.68.

Insider Activity at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $41.36, for a total transaction of $68,616.24. Following the sale, the senior vice president now owns 43,776 shares of the company's stock, valued at approximately $1,810,575.36. The trade was a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.30% of the stock is currently owned by insiders.

Western Digital Price Performance

Shares of Western Digital stock traded down $0.40 on Monday, reaching $40.39. 2,679,365 shares of the stock were exchanged, compared to its average volume of 8,974,801. The firm's 50 day moving average is $42.37 and its 200-day moving average is $57.82. The firm has a market cap of $14.05 billion, a PE ratio of 9.62 and a beta of 1.39. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99. Western Digital Co. has a one year low of $28.83 and a one year high of $61.16.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its earnings results 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 net margin of 9.95% and a return on equity of 15.68%. As a group, analysts anticipate that Western Digital Co. will post 4.89 EPS 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.