Banque Cantonale Vaudoise trimmed its stake in Western Digital Co. (NASDAQ:WDC - Free Report) by 20.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,448 shares of the data storage provider's stock after selling 8,299 shares during the quarter. Banque Cantonale Vaudoise's holdings in Western Digital were worth $2,147,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. AGF Management Ltd. grew its position in shares of Western Digital by 28,925.8% in the second quarter. AGF Management Ltd. now owns 2,202,190 shares of the data storage provider's stock valued at $166,860,000 after purchasing an additional 2,194,603 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in Western Digital by 247.0% during the second quarter. 1832 Asset Management L.P. now owns 1,446,509 shares of the data storage provider's stock valued at $109,602,000 after purchasing an additional 1,029,658 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in Western Digital by 1,089.7% during the first quarter. Canada Pension Plan Investment Board now owns 1,071,600 shares of the data storage provider's stock valued at $73,126,000 after purchasing an additional 981,527 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Western Digital by 39.6% during the second quarter. Bank of New York Mellon Corp now owns 2,861,229 shares of the data storage provider's stock valued at $216,795,000 after purchasing an additional 810,977 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Western Digital by 304.9% in the second quarter. Marshall Wace LLP now owns 709,386 shares of the data storage provider's stock valued at $53,750,000 after acquiring an additional 534,168 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company's stock.
Shares of NASDAQ WDC opened at $63.84 on Thursday. The company has a 50-day moving average price of $66.40 and a 200-day moving average price of $69.18. Western Digital Co. has a 1 year low of $46.05 and a 1 year high of $81.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.91. The stock has a market capitalization of $22.07 billion, a P/E ratio of 37.55 and a beta of 1.40.
Western Digital (NASDAQ:WDC - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The data storage provider reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.23. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The business had revenue of $4.10 billion during the quarter, compared to analysts' expectations of $4.12 billion. During the same quarter in the previous year, the company earned ($1.97) EPS. The business's quarterly revenue was up 48.9% compared to the same quarter last year. On average, equities research analysts forecast that Western Digital Co. will post 6.56 EPS for the current fiscal year.
Several research analysts recently weighed in on WDC shares. Benchmark restated a "buy" rating and issued a $92.00 price objective on shares of Western Digital in a research report on Friday, October 25th. UBS Group decreased their price target on shares of Western Digital from $74.00 to $72.00 and set a "neutral" rating for the company in a report on Thursday, October 24th. Cantor Fitzgerald boosted their price target on shares of Western Digital from $80.00 to $95.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Barclays upped their target price on shares of Western Digital from $80.00 to $90.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group cut their price target on shares of Western Digital from $79.00 to $72.00 and set a "neutral" rating on the stock in a research report on Thursday, October 24th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $87.71.
Get Our Latest Stock Analysis on WDC
In other Western Digital news, EVP Robert Soderbery sold 30,767 shares of the company's stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $68.01, for a total value of $2,092,463.67. Following the completion of the transaction, the executive vice president now directly owns 135,398 shares in the company, valued at approximately $9,208,417.98. This represents a 18.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Goeckeler sold 75,000 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $72.58, for a total transaction of $5,443,500.00. Following the completion of the transaction, the chief executive officer now owns 821,630 shares of the company's stock, valued at approximately $59,633,905.40. The trade was a 8.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 188,144 shares of company stock worth $13,281,983 in the last three months. 0.30% of the stock is owned by insiders.
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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