LGT Group Foundation Sells 11,202 Shares of Western Digital Co. (NASDAQ:WDC)

LGT Group Foundation reduced its holdings in Western Digital Co. (NASDAQ:WDC - Free Report) by 10.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,443 shares of the data storage provider's stock after selling 11,202 shares during the period. LGT Group Foundation's holdings in Western Digital were worth $5,105,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in WDC. Naples Money Management LLC purchased a new stake in Western Digital during the fourth quarter worth $26,000. Lindbrook Capital LLC boosted its holdings in Western Digital by 121.7% during the fourth quarter. Lindbrook Capital LLC now owns 614 shares of the data storage provider's stock worth $32,000 after buying an additional 337 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Western Digital by 79.1% during the third quarter. Parkside Financial Bank & Trust now owns 747 shares of the data storage provider's stock worth $34,000 after buying an additional 330 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Western Digital during the third quarter worth $41,000. Finally, CVA Family Office LLC purchased a new stake in Western Digital during the fourth quarter worth $41,000. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital Trading Up 1.8 %

Western Digital stock traded up $1.23 during midday trading on Friday, hitting $70.95. 5,958,260 shares of the stock were exchanged, compared to its average volume of 7,124,154. Western Digital Co. has a fifty-two week low of $32.01 and a fifty-two week high of $76.92. The stock has a market capitalization of $23.17 billion, a price-to-earnings ratio of -14.28 and a beta of 1.53. The stock's 50-day simple moving average is $66.35 and its 200 day simple moving average is $55.64. The company has a current ratio of 1.86, a quick ratio of 1.07 and a debt-to-equity ratio of 0.72.

Western Digital (NASDAQ:WDC - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The data storage provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.42. The firm had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $3.37 billion. Western Digital had a negative net margin of 12.87% and a negative return on equity of 13.75%. Western Digital's revenue was up 23.3% compared to the same quarter last year. During the same period last year, the business earned ($1.57) earnings per share. On average, equities analysts anticipate that Western Digital Co. will post -1.68 EPS for the current year.

Insiders Place Their Bets

In other Western Digital news, Director Kimberly Alexy sold 2,648 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.95, for a total transaction of $185,227.60. Following the completion of the transaction, the director now owns 20,509 shares of the company's stock, valued at $1,434,604.55. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Gene M. Zamiska sold 443 shares of the firm's stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $75.00, for a total value of $33,225.00. Following the completion of the transaction, the senior vice president now owns 30,958 shares of the company's stock, valued at $2,321,850. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kimberly Alexy sold 2,648 shares of the firm's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $69.95, for a total transaction of $185,227.60. Following the completion of the transaction, the director now directly owns 20,509 shares of the company's stock, valued at approximately $1,434,604.55. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Cantor Fitzgerald increased their price target on shares of Western Digital from $70.00 to $100.00 and gave the stock an "overweight" rating in a report on Monday, April 8th. Raymond James cut shares of Western Digital from an "outperform" rating to a "market perform" rating in a research report on Monday, April 22nd. Rosenblatt Securities upgraded shares of Western Digital from a "neutral" rating to a "buy" rating in a research report on Friday, April 5th. Wedbush restated an "outperform" rating and set a $85.00 price objective on shares of Western Digital in a research report on Friday, April 26th. Finally, Morgan Stanley upped their price objective on shares of Western Digital from $83.00 to $86.00 and gave the stock an "overweight" rating in a research report on Friday, April 26th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $77.76.

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.