J. Safra Sarasin Holding AG Has $1.39 Million Holdings in Western Digital Co. (NASDAQ:WDC)

by · The Cerbat Gem

J. Safra Sarasin Holding AG trimmed its position in shares of Western Digital Co. (NASDAQ:WDC – Free Report) by 32.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 23,274 shares of the data storage provider’s stock after selling 11,051 shares during the period. J. Safra Sarasin Holding AG’s holdings in Western Digital were worth $1,388,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Western Digital by 32.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,131 shares of the data storage provider’s stock worth $2,691,000 after acquiring an additional 11,013 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Western Digital by 6.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 841,700 shares of the data storage provider’s stock worth $50,191,000 after purchasing an additional 50,188 shares during the period. Principal Financial Group Inc. grew its holdings in Western Digital by 4.0% during the fourth quarter. Principal Financial Group Inc. now owns 390,826 shares of the data storage provider’s stock valued at $23,305,000 after purchasing an additional 15,189 shares during the last quarter. Ieq Capital LLC raised its position in shares of Western Digital by 83.9% in the fourth quarter. Ieq Capital LLC now owns 31,634 shares of the data storage provider’s stock valued at $1,886,000 after purchasing an additional 14,432 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Western Digital by 53.3% during the 4th quarter. Handelsbanken Fonder AB now owns 99,444 shares of the data storage provider’s stock worth $5,930,000 after buying an additional 34,579 shares during the period. Institutional investors own 92.51% of the company’s stock.

Western Digital Stock Performance

Western Digital stock opened at $36.68 on Wednesday. Western Digital Co. has a 52-week low of $28.83 and a 52-week high of $81.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26. The stock has a fifty day moving average price of $44.17 and a two-hundred day moving average price of $58.40. The firm has a market capitalization of $12.76 billion, a P/E ratio of 8.73 and a beta of 1.39.

Western Digital (NASDAQ:WDC – Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a net margin of 9.95% and a return on equity of 15.68%. As a group, analysts anticipate that Western Digital Co. will post 4.89 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on WDC. Bank of America cut their target price on shares of Western Digital from $89.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Rosenblatt Securities decreased their target price on Western Digital from $115.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. StockNews.com assumed coverage on Western Digital in a research report on Wednesday, April 16th. They issued a “hold” rating on the stock. Cantor Fitzgerald reduced their price objective on Western Digital from $95.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Finally, Barclays reduced their price target on shares of Western Digital from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.68.

Get Our Latest Stock Analysis on Western Digital

Insider Transactions at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $41.36, for a total value of $68,616.24. Following the completion of the sale, the senior vice president now owns 43,776 shares in the company, valued at approximately $1,810,575.36. This trade represents a 3.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is owned by company insiders.

Western Digital Company Profile

(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.

Further Reading

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