Fjarde AP Fonden Fourth Swedish National Pension Fund Has $3.34 Million Holdings in Western Digital Corporation $WDC

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 41.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 52,166 shares of the data storage provider’s stock after purchasing an additional 15,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Western Digital were worth $3,338,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Western Digital by 1.1% during the first quarter. Vanguard Group Inc. now owns 42,938,495 shares of the data storage provider’s stock worth $1,736,003,000 after acquiring an additional 478,728 shares during the last quarter. Alyeska Investment Group L.P. lifted its position in Western Digital by 130.0% during the first quarter. Alyeska Investment Group L.P. now owns 5,029,359 shares of the data storage provider’s stock worth $203,337,000 after acquiring an additional 2,842,822 shares during the last quarter. Northern Trust Corp lifted its position in Western Digital by 1.5% during the first quarter. Northern Trust Corp now owns 3,449,811 shares of the data storage provider’s stock worth $139,476,000 after acquiring an additional 52,140 shares during the last quarter. Deutsche Bank AG lifted its position in Western Digital by 107.1% during the first quarter. Deutsche Bank AG now owns 3,369,331 shares of the data storage provider’s stock worth $136,222,000 after acquiring an additional 1,742,481 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Western Digital by 8.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,933,278 shares of the data storage provider’s stock worth $118,574,000 after acquiring an additional 216,387 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on WDC shares. Susquehanna raised their price objective on shares of Western Digital from $40.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Barclays lifted their price target on shares of Western Digital from $80.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. TD Cowen lifted their price target on shares of Western Digital from $58.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. The Goldman Sachs Group lifted their price target on shares of Western Digital from $78.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, October 8th. Finally, Bank of America increased their target price on Western Digital from $141.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Western Digital currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.84.

Western Digital Stock Down 2.3%

Shares of WDC opened at $138.13 on Friday. Western Digital Corporation has a one year low of $28.83 and a one year high of $145.68. The company has a market cap of $47.35 billion, a P/E ratio of 26.82, a P/E/G ratio of 1.14 and a beta of 1.77. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.08 and a quick ratio of 0.84. The firm has a 50 day simple moving average of $108.73 and a two-hundred day simple moving average of $75.75.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Monday, April 7th. The data storage provider reported $1.78 EPS for the quarter. Western Digital had a net margin of 14.13% and a return on equity of 24.93%. The business had revenue of $4.10 billion during the quarter. Research analysts forecast that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Insider Activity

In other Western Digital news, insider Cynthia L. Tregillis sold 14,067 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $74.78, for a total transaction of $1,051,930.26. Following the completion of the transaction, the insider directly owned 135,351 shares in the company, valued at $10,121,547.78. The trade was a 9.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Gene M. Zamiska sold 3,160 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $75.68, for a total transaction of $239,148.80. Following the transaction, the senior vice president owned 31,560 shares of the company’s stock, valued at approximately $2,388,460.80. This represents a 9.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 49,730 shares of company stock valued at $3,921,594 in the last three months. Company insiders own 0.18% of the company’s stock.

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.