Western Digital Co. (NASDAQ:WDC) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Western Digital Co. (NASDAQ:WDC - Free Report) by 7.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 315,866 shares of the data storage provider's stock after purchasing an additional 20,910 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.10% of Western Digital worth $15,901,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. SeaTown Holdings Pte. Ltd. bought a new position in Western Digital in the fourth quarter valued at approximately $16,200,000. Ieq Capital LLC grew its position in Western Digital by 11.2% in the 4th quarter. Ieq Capital LLC now owns 8,506 shares of the data storage provider's stock valued at $445,000 after purchasing an additional 859 shares during the period. Forum Financial Management LP raised its stake in shares of Western Digital by 14.0% in the fourth quarter. Forum Financial Management LP now owns 5,643 shares of the data storage provider's stock worth $296,000 after purchasing an additional 694 shares during the last quarter. Principal Financial Group Inc. increased its stake in Western Digital by 13.0% in the 4th quarter. Principal Financial Group Inc. now owns 796,784 shares of the data storage provider's stock valued at $41,728,000 after buying an additional 91,901 shares during the last quarter. Finally, Jump Financial LLC raised its position in Western Digital by 200.6% in the fourth quarter. Jump Financial LLC now owns 64,526 shares of the data storage provider's stock worth $3,379,000 after acquiring an additional 43,058 shares during the period. 92.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WDC. Rosenblatt Securities raised shares of Western Digital from a "neutral" rating to a "buy" rating in a report on Friday, April 5th. Robert W. Baird lifted their target price on shares of Western Digital from $65.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, April 26th. StockNews.com raised Western Digital from a "sell" rating to a "hold" rating in a research note on Monday, April 29th. Barclays increased their target price on Western Digital from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Monday, April 22nd. Finally, Susquehanna upped their price objective on shares of Western Digital from $68.00 to $83.00 and gave the stock a "neutral" rating in a report on Wednesday, April 10th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $78.32.

Western Digital Stock Performance

NASDAQ WDC traded down $2.00 on Friday, reaching $72.10. 6,195,169 shares of the stock were exchanged, compared to its average volume of 6,804,931. Western Digital Co. has a one year low of $35.62 and a one year high of $76.92. The company has a current ratio of 1.86, a quick ratio of 1.07 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $23.54 billion, a PE ratio of -14.51 and a beta of 1.53. The company's 50-day simple moving average is $68.86 and its two-hundred day simple moving average is $58.06.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its earnings results on Thursday, April 25th. The data storage provider reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.42. The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates 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 for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.57) earnings per share. Analysts expect that Western Digital Co. will post -1.68 EPS for the current fiscal year.

Insider Activity at Western Digital

In other Western Digital news, Director Kimberly Alexy sold 2,648 shares of the company's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.95, for a total value of $185,227.60. Following the transaction, the director now owns 20,509 shares of the company's stock, valued at approximately $1,434,604.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Kimberly Alexy sold 2,648 shares of the business's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.95, for a total value 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Gene M. Zamiska sold 443 shares of the stock in a transaction 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 sale, the senior vice president now owns 30,958 shares of the company's stock, valued at approximately $2,321,850. The disclosure for this sale can be found here. 0.28% of the stock is owned by insiders.

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.