Amalgamated Bank Buys 1,711 Shares of Western Digital Co. (NASDAQ:WDC)

Amalgamated Bank raised its stake in shares of Western Digital Co. (NASDAQ:WDC) by 2.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,857 shares of the data storage provider’s stock after buying an additional 1,711 shares during the quarter. Amalgamated Bank’s holdings in Western Digital were worth $3,927,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp grew its stake in Western Digital by 3.2% during the third quarter. State Street Corp now owns 13,572,686 shares of the data storage provider’s stock valued at $926,879,000 after acquiring an additional 423,651 shares in the last quarter. Geode Capital Management LLC lifted its stake in Western Digital by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 7,921,608 shares of the data storage provider’s stock worth $539,355,000 after purchasing an additional 76,781 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Western Digital by 24.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,711,428 shares of the data storage provider’s stock valued at $253,453,000 after purchasing an additional 732,344 shares during the period. Maple Rock Capital Partners Inc. grew its position in shares of Western Digital by 13.2% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 3,287,400 shares of the data storage provider’s stock valued at $224,497,000 after purchasing an additional 383,390 shares in the last quarter. Finally, Holocene Advisors LP increased its holdings in shares of Western Digital by 25.7% in the third quarter. Holocene Advisors LP now owns 3,192,762 shares of the data storage provider’s stock worth $218,034,000 after purchasing an additional 651,847 shares during the period. 92.51% of the stock is currently owned by institutional investors.

Western Digital Stock Up 1.5 %

WDC opened at $48.93 on Friday. The company has a market cap of $17.02 billion, a P/E ratio of 11.65 and a beta of 1.44. Western Digital Co. has a 12 month low of $39.58 and a 12 month high of $61.16. The business’s 50-day moving average price is $63.42 and its 200-day moving average price is $65.21. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. On average, equities analysts expect that Western Digital Co. will post 4.89 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WDC. Citigroup lifted their price objective on Western Digital from $60.45 to $64.00 and gave the company a “buy” rating in a research note on Tuesday. Robert W. Baird dropped their price target on Western Digital from $100.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. Benchmark cut shares of Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price objective on the stock. in a research report on Thursday, December 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $95.00 target price on shares of Western Digital in a research note on Tuesday, February 18th. Finally, Rosenblatt Securities cut their price target on shares of Western Digital from $115.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Western Digital presently has a consensus rating of “Moderate Buy” and an average target price of $83.05.

About Western Digital

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.