Comerica Bank boosted its position in Western Digital Co. (NASDAQ:WDC – Get Rating) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,774 shares of the data storage provider’s stock after purchasing an additional 2,183 shares during the period. Comerica Bank’s holdings in Western Digital were worth $2,268,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Strs Ohio raised its holdings in Western Digital by 7.8% during the 4th quarter. Strs Ohio now owns 32,952 shares of the data storage provider’s stock valued at $1,039,000 after acquiring an additional 2,392 shares during the period. Greenwood Capital Associates LLC lifted its position in shares of Western Digital by 29.9% during the fourth quarter. Greenwood Capital Associates LLC now owns 101,811 shares of the data storage provider’s stock worth $3,212,000 after acquiring an additional 23,415 shares in the last quarter. Dupont Capital Management Corp lifted its position in shares of Western Digital by 71.6% during the fourth quarter. Dupont Capital Management Corp now owns 1,620 shares of the data storage provider’s stock worth $51,000 after acquiring an additional 676 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Western Digital by 7.9% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 47,174 shares of the data storage provider’s stock worth $1,488,000 after acquiring an additional 3,469 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Western Digital by 55.5% during the fourth quarter. Fifth Third Bancorp now owns 7,079 shares of the data storage provider’s stock worth $223,000 after acquiring an additional 2,526 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the company. Mizuho upgraded Western Digital from a “neutral” rating to a “buy” rating and increased their target price for the stock from $38.00 to $50.00 in a research report on Friday, February 10th. Craig Hallum increased their target price on Western Digital from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, February 1st. Benchmark upgraded Western Digital from a “sell” rating to a “hold” rating in a research report on Friday, January 6th. StockNews.com assumed coverage on Western Digital in a research report on Thursday, March 16th. They issued a “sell” rating on the stock. Finally, Raymond James assumed coverage on Western Digital in a research report on Wednesday, March 1st. They issued an “outperform” rating and a $46.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Western Digital presently has an average rating of “Hold” and a consensus target price of $50.20.
Western Digital Trading Up 1.6 %
Western Digital (NASDAQ:WDC – Get Rating) last announced its quarterly earnings data on Tuesday, January 31st. The data storage provider reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.34). Western Digital had a negative net margin of 0.59% and a positive return on equity of 5.78%. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same period last year, the business posted $2.03 earnings per share. The firm’s quarterly revenue was down 35.7% compared to the same quarter last year. Research analysts forecast that Western Digital Co. will post -4.15 EPS for the current fiscal year.
About Western Digital
Western Digital Corp. engages in the development, manufacture, marketing, and sale of data storage devices and solutions. It operates through the Flash and Hard Disk Drive segments. The Flash segment represents flash-based data storage devices. The Hard Disk Drive segment provides hard disk storage solutions.
Further Reading
- Get a free copy of the StockNews.com research report on Western Digital (WDC)
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