Western Digital Co. (NASDAQ:WDC) Shares Bought by Deutsche Bank AG

Deutsche Bank AG raised its stake in shares of Western Digital Co. (NASDAQ:WDC - Free Report) by 27.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,626,850 shares of the data storage provider's stock after purchasing an additional 346,476 shares during the period. Deutsche Bank AG owned 0.47% of Western Digital worth $97,009,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Sierra Ocean LLC acquired a new stake in shares of Western Digital in the fourth quarter valued at about $29,000. Comprehensive Financial Planning Inc. PA acquired a new stake in Western Digital in the 4th quarter valued at about $30,000. OFI Invest Asset Management purchased a new position in Western Digital in the 4th quarter worth approximately $36,000. S.A. Mason LLC acquired a new position in shares of Western Digital during the 4th quarter worth approximately $45,000. Finally, GeoWealth Management LLC lifted its position in Western Digital by 91.6% during the fourth quarter. GeoWealth Management LLC now owns 1,044 shares of the data storage provider's stock worth $62,000 after buying an additional 499 shares in the last quarter. Institutional investors and hedge funds own 92.51% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on WDC. Bank of America cut their target price on Western Digital from $89.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. Susquehanna cut their price objective on shares of Western Digital from $72.00 to $40.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Summit Insights raised shares of Western Digital from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Citigroup decreased their target price on shares of Western Digital from $64.00 to $48.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Cantor Fitzgerald cut their price target on shares of Western Digital from $95.00 to $65.00 and set an "overweight" rating for the company in a report on Friday, March 7th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $64.15.

Insiders Place Their Bets

In other news, SVP Gene M. Zamiska sold 1,659 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $41.36, for a total value of $68,616.24. Following the transaction, the senior vice president now owns 43,776 shares in the company, valued at approximately $1,810,575.36. This represents a 3.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.30% of the stock is currently owned by company insiders.

Western Digital Stock Performance

Shares of WDC stock opened at $44.10 on Monday. The firm has a 50 day moving average of $40.12 and a two-hundred day moving average of $56.19. The stock has a market capitalization of $15.39 billion, a PE ratio of 10.50 and a beta of 1.42. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. Western Digital Co. has a 52 week low of $28.83 and a 52 week high of $81.55.

Western Digital (NASDAQ:WDC - Get Free Report) last released its earnings results on Wednesday, April 30th. The data storage provider reported $1.36 EPS for the quarter, topping the consensus estimate of $1.06 by $0.30. The firm had revenue of ($1,465.00) million during the quarter, compared to analysts' expectations of $2.70 billion. Western Digital had a return on equity of 15.68% and a net margin of 9.95%. Western Digital's revenue for the quarter was down 33.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 EPS. On average, research analysts predict that Western Digital Co. will post 4.89 EPS for the current fiscal year.

Western Digital Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.91%. Western Digital's dividend payout ratio is currently 7.58%.

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.

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