494,000 Shares in Western Digital Co. (NASDAQ:WDC) Purchased by Dendur Capital LP

Dendur Capital LP acquired a new stake in shares of Western Digital Co. (NASDAQ:WDC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 494,000 shares of the data storage provider’s stock, valued at approximately $29,457,000. Western Digital makes up about 3.0% of Dendur Capital LP’s investment portfolio, making the stock its 12th largest position. Dendur Capital LP owned approximately 0.14% of Western Digital as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WDC. Pinebridge Investments L.P. boosted its holdings in shares of Western Digital by 106.4% in the fourth quarter. Pinebridge Investments L.P. now owns 71,103 shares of the data storage provider’s stock worth $4,240,000 after buying an additional 36,647 shares during the period. SRS Investment Management LLC acquired a new position in Western Digital in the 4th quarter worth approximately $17,044,000. IHT Wealth Management LLC raised its stake in Western Digital by 5.7% during the 4th quarter. IHT Wealth Management LLC now owns 3,817 shares of the data storage provider’s stock valued at $228,000 after purchasing an additional 207 shares during the period. State of Tennessee Department of Treasury lifted its holdings in shares of Western Digital by 35.5% in the fourth quarter. State of Tennessee Department of Treasury now owns 202,783 shares of the data storage provider’s stock valued at $12,092,000 after purchasing an additional 53,172 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its position in shares of Western Digital by 6.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 4,594 shares of the data storage provider’s stock worth $274,000 after buying an additional 277 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on WDC shares. Barclays dropped their target price on Western Digital from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. UBS Group cut their target price on shares of Western Digital from $74.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. The Goldman Sachs Group boosted their price target on shares of Western Digital from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Robert W. Baird reduced their price objective on Western Digital from $100.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. Finally, Citigroup dropped their target price on Western Digital from $64.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $73.68.

Insider Activity at Western Digital

In other news, SVP Gene M. Zamiska sold 1,659 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $41.36, for a total value of $68,616.24. Following the completion of the transaction, the senior vice president now directly owns 43,776 shares of the company’s stock, valued at approximately $1,810,575.36. This represents a 3.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Western Digital Trading Up 2.0 %

Shares of NASDAQ:WDC opened at $36.68 on Wednesday. Western Digital Co. has a 52-week low of $28.83 and a 52-week high of $81.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99. The company has a market cap of $12.76 billion, a P/E ratio of 8.73 and a beta of 1.39. The stock’s 50-day moving average is $44.17 and its 200-day moving average is $58.40.

Western Digital (NASDAQ:WDC) last issued its quarterly 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%. Equities research analysts predict that Western Digital Co. will post 4.89 earnings per share for the current 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.