PNC Financial Services Group Inc. Acquires 2,013 Shares of Western Digital Co. (NASDAQ:WDC)

Posted by on May 29th, 2023

PNC Financial Services Group Inc. boosted its holdings in Western Digital Co. (NASDAQ:WDC – Get Rating) by 3.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,654 shares of the data storage provider’s stock after acquiring an additional 2,013 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Western Digital were worth $1,693,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Greenwich Wealth Management LLC lifted its position in shares of Western Digital by 0.8% during the 4th quarter. Greenwich Wealth Management LLC now owns 40,532 shares of the data storage provider’s stock worth $1,279,000 after buying an additional 341 shares in the last quarter. M Holdings Securities Inc. lifted its position in shares of Western Digital by 6.2% during the 3rd quarter. M Holdings Securities Inc. now owns 6,735 shares of the data storage provider’s stock worth $219,000 after buying an additional 395 shares in the last quarter. Forum Financial Management LP lifted its position in shares of Western Digital by 10.0% during the 1st quarter. Forum Financial Management LP now owns 4,414 shares of the data storage provider’s stock worth $219,000 after buying an additional 400 shares in the last quarter. Baird Financial Group Inc. lifted its position in shares of Western Digital by 4.0% during the 1st quarter. Baird Financial Group Inc. now owns 10,618 shares of the data storage provider’s stock worth $527,000 after buying an additional 406 shares in the last quarter. Finally, CI Investments Inc. raised its holdings in shares of Western Digital by 114.4% in the 4th quarter. CI Investments Inc. now owns 879 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 469 shares during the period. Institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on WDC shares. JPMorgan Chase & Co. lowered their price target on shares of Western Digital from $45.00 to $40.00 in a report on Tuesday, May 9th. TheStreet cut shares of Western Digital from a “c-” rating to a “d+” rating in a report on Thursday, May 11th. Bank of America lowered their price target on shares of Western Digital from $50.00 to $41.00 in a report on Tuesday, May 9th. UBS Group cut their price target on Western Digital from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, April 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Western Digital from $40.00 to $36.00 in a report on Tuesday, May 9th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $46.67.

Western Digital Stock Up 4.9 %

WDC opened at $39.71 on Monday. The company has a market cap of $12.70 billion, a P/E ratio of -18.13 and a beta of 1.69. The business’s 50-day moving average price is $35.44 and its 200-day moving average price is $36.75. The company has a current ratio of 1.61, a quick ratio of 0.86 and a debt-to-equity ratio of 0.51. Western Digital Co. has a 12 month low of $29.73 and a 12 month high of $63.00.

About Western Digital

(Get Rating)

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.

Featured Stories

Institutional Ownership by Quarter for Western Digital (NASDAQ:WDC)

Receive News & Ratings for Western Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Digital and related companies with MarketBeat.com's FREE daily email newsletter.