Headlands Technologies LLC Has $160,000 Stock Position in Western Digital Co. (NASDAQ:WDC)

Headlands Technologies LLC trimmed its position in Western Digital Co. (NASDAQ:WDCFree Report) by 33.0% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,502 shares of the data storage provider’s stock after selling 1,724 shares during the period. Headlands Technologies LLC’s holdings in Western Digital were worth $160,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in Western Digital by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,028,114 shares of the data storage provider’s stock valued at $138,173,000 after buying an additional 66,680 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Western Digital by 4.1% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 294,956 shares of the data storage provider’s stock worth $13,459,000 after purchasing an additional 11,725 shares during the last quarter. Zweig DiMenna Associates LLC bought a new position in shares of Western Digital in the 3rd quarter worth $2,396,000. John G Ullman & Associates Inc. boosted its position in shares of Western Digital by 47.5% in the 3rd quarter. John G Ullman & Associates Inc. now owns 79,650 shares of the data storage provider’s stock worth $3,634,000 after purchasing an additional 25,650 shares during the last quarter. Finally, DnB Asset Management AS boosted its position in shares of Western Digital by 7.3% in the 3rd quarter. DnB Asset Management AS now owns 5,143,795 shares of the data storage provider’s stock worth $234,711,000 after purchasing an additional 351,916 shares during the last quarter. 83.38% of the stock is currently owned by institutional investors.

Western Digital Stock Performance

WDC opened at $56.82 on Friday. The business’s 50-day moving average price is $52.89 and its two-hundred day moving average price is $46.95. Western Digital Co. has a 1 year low of $31.97 and a 1 year high of $60.55. The company has a market capitalization of $18.29 billion, a price-to-earnings ratio of -7.97 and a beta of 1.57. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.67 and a quick ratio of 0.98.

Western Digital (NASDAQ:WDCGet Free Report) last released its quarterly earnings results on Monday, January 29th. The data storage provider reported ($0.69) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.30) by $0.61. The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3 billion. Western Digital had a negative return on equity of 19.49% and a negative net margin of 19.90%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.69) EPS. Equities analysts expect that Western Digital Co. will post -2.81 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on WDC. Barclays raised their price target on Western Digital from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Deutsche Bank Aktiengesellschaft upgraded Western Digital from a “hold” rating to a “buy” rating and raised their price target for the stock from $45.00 to $65.00 in a research report on Tuesday, January 16th. TD Cowen raised their price target on Western Digital from $50.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Cantor Fitzgerald initiated coverage on Western Digital in a report on Tuesday, January 23rd. They set an “overweight” rating and a $70.00 target price on the stock. Finally, StockNews.com lowered Western Digital from a “hold” rating to a “sell” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Western Digital has a consensus rating of “Moderate Buy” and an average target price of $59.29.

Read Our Latest Research Report on WDC

About Western Digital

(Free Report)

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.

See Also

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

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