Tokio Marine Asset Management Co. Ltd. Buys 502 Shares of Western Digital Co. (NASDAQ:WDC)

Tokio Marine Asset Management Co. Ltd. boosted its stake in Western Digital Co. (NASDAQ:WDC) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,663 shares of the data storage provider’s stock after acquiring an additional 502 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Western Digital were worth $506,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Naples Money Management LLC bought a new position in shares of Western Digital during the 4th quarter worth approximately $26,000. Lindbrook Capital LLC boosted its holdings in shares of Western Digital by 121.7% during the 4th quarter. Lindbrook Capital LLC now owns 614 shares of the data storage provider’s stock worth $32,000 after buying an additional 337 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Western Digital by 79.1% during the 3rd quarter. Parkside Financial Bank & Trust now owns 747 shares of the data storage provider’s stock worth $34,000 after buying an additional 330 shares in the last quarter. CVA Family Office LLC bought a new position in shares of Western Digital during the 4th quarter worth approximately $41,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Western Digital during the 3rd quarter worth approximately $41,000. 92.51% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Kimberly Alexy sold 2,648 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.95, for a total transaction of $185,227.60. Following the completion of the sale, the director now directly owns 20,509 shares of the company’s stock, valued at approximately $1,434,604.55. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Gene M. Zamiska sold 443 shares of Western Digital stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $75.00, for a total value of $33,225.00. Following the completion of the sale, the senior vice president now owns 30,958 shares of the company’s stock, valued at approximately $2,321,850. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kimberly Alexy sold 2,648 shares of Western Digital stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.95, for a total value of $185,227.60. Following the completion of the sale, the director now directly owns 20,509 shares of the company’s stock, valued at approximately $1,434,604.55. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.

Wall Street Analysts Forecast Growth

WDC has been the topic of a number of research analyst reports. Mizuho increased their price target on Western Digital from $66.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Raymond James cut Western Digital from an “outperform” rating to a “market perform” rating in a report on Monday, April 22nd. The Goldman Sachs Group increased their target price on Western Digital from $58.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Wedbush reiterated an “outperform” rating and issued a $85.00 target price on shares of Western Digital in a report on Friday. Finally, Evercore ISI increased their target price on Western Digital from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $77.25.

Western Digital Trading Up 2.8 %

Shares of Western Digital stock opened at $71.36 on Friday. Western Digital Co. has a 1 year low of $32.01 and a 1 year high of $76.92. The firm has a market cap of $23.25 billion, a PE ratio of -14.36 and a beta of 1.57. The stock has a fifty day moving average price of $65.08 and a 200-day moving average price of $55.03. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.67 and a quick ratio of 0.98.

Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, April 25th. The data storage provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.42. Western Digital had a negative return on equity of 13.67% and a negative net margin of 12.87%. The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.37 billion. During the same period last year, the firm posted ($1.57) EPS. The business’s revenue was up 23.3% compared to the same quarter last year. Equities research analysts anticipate that Western Digital Co. will post -2.21 EPS for the current year.

Western Digital 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.