Korea Investment CORP Sells 82,897 Shares of Western Digital Co. (NASDAQ:WDC)

Posted by on Jun 5th, 2023

Korea Investment CORP lowered its position in Western Digital Co. (NASDAQ:WDC – Get Rating) by 48.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 88,978 shares of the data storage provider’s stock after selling 82,897 shares during the period. Korea Investment CORP’s holdings in Western Digital were worth $2,807,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. American Century Companies Inc. lifted its holdings in shares of Western Digital by 292.1% in the first quarter. American Century Companies Inc. now owns 30,302 shares of the data storage provider’s stock valued at $1,504,000 after purchasing an additional 22,573 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Western Digital in the first quarter valued at approximately $57,000. Acadian Asset Management LLC lifted its holdings in shares of Western Digital by 1,535.0% in the first quarter. Acadian Asset Management LLC now owns 8,649 shares of the data storage provider’s stock valued at $426,000 after purchasing an additional 8,120 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Western Digital by 7.0% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 41,869 shares of the data storage provider’s stock valued at $2,079,000 after purchasing an additional 2,755 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its holdings in Western Digital by 1.9% during the first quarter. Great West Life Assurance Co. Can now owns 197,219 shares of the data storage provider’s stock worth $10,331,000 after acquiring an additional 3,642 shares during the period. Institutional investors own 85.47% of the company’s stock.

Western Digital Trading Up 3.3 %

Shares of WDC stock opened at $40.24 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.61 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $35.88 and a two-hundred day moving average price of $36.79. Western Digital Co. has a 12-month low of $29.73 and a 12-month high of $63.00. The firm has a market cap of $12.87 billion, a P/E ratio of -18.37 and a beta of 1.68.

Wall Street Analyst Weigh In

A number of analysts recently commented on WDC shares. StockNews.com started coverage on Western Digital in a report on Thursday, March 16th. They set a “sell” rating on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on Western Digital from $40.00 to $36.00 in a report on Tuesday, May 9th. Bank of America dropped their price target on Western Digital from $50.00 to $41.00 in a report on Tuesday, May 9th. Raymond James initiated coverage on Western Digital in a research report on Wednesday, March 1st. They issued an “outperform” rating and a $46.00 target price for the company. Finally, Mizuho decreased their target price on Western Digital from $50.00 to $45.00 in a research report on Tuesday, May 9th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $45.00.

Western Digital Profile

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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.

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

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