Czech National Bank Has $3.89 Million Position in Western Digital Co. (NASDAQ:WDC)

Czech National Bank grew its stake in shares of Western Digital Co. (NASDAQ:WDC) by 0.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 57,050 shares of the data storage provider’s stock after buying an additional 261 shares during the period. Czech National Bank’s holdings in Western Digital were worth $3,893,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Western Digital by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 38,579,938 shares of the data storage provider’s stock valued at $2,020,431,000 after buying an additional 215,207 shares during the last quarter. Nomura Holdings Inc. raised its position in shares of Western Digital by 7.0% during the third quarter. Nomura Holdings Inc. now owns 13,361,999 shares of the data storage provider’s stock valued at $609,708,000 after buying an additional 870,971 shares during the last quarter. DNB Asset Management AS raised its position in Western Digital by 8.6% in the fourth quarter. DNB Asset Management AS now owns 5,587,698 shares of the data storage provider’s stock worth $292,628,000 after purchasing an additional 443,903 shares in the last quarter. Kodai Capital Management LP acquired a new position in Western Digital in the fourth quarter worth about $212,900,000. Finally, Northern Trust Corp raised its position in Western Digital by 2.9% in the third quarter. Northern Trust Corp now owns 3,268,764 shares of the data storage provider’s stock worth $149,154,000 after purchasing an additional 92,009 shares in the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insider Activity at Western Digital

In other Western Digital news, Director Kimberly Alexy sold 2,648 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $69.95, for a total value of $185,227.60. Following the sale, the director now directly owns 20,509 shares in the company, valued at $1,434,604.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Robert Soderbery sold 26,853 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $73.48, for a total transaction of $1,973,158.44. Following the sale, the executive vice president now directly owns 144,623 shares in the company, valued at $10,626,898.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 sale, the director now owns 20,509 shares in the company, valued at $1,434,604.55. The disclosure for this sale can be found here. Insiders have sold 30,579 shares of company stock worth $2,238,595 over the last ninety days. Company insiders own 0.28% of the company’s stock.

Western Digital Price Performance

WDC opened at $75.77 on Friday. Western Digital Co. has a one year low of $35.62 and a one year high of $81.55. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.86 and a quick ratio of 1.07. The company’s 50 day simple moving average is $73.58 and its 200-day simple moving average is $63.30. The stock has a market capitalization of $24.74 billion, a P/E ratio of -15.25 and a beta of 1.45.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Thursday, April 25th. The data storage provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.21 by $0.42. Western Digital had a negative net margin of 12.87% and a negative return on equity of 13.75%. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.37 billion. During the same period in the prior year, the firm earned ($1.57) earnings per share. Western Digital’s revenue was up 23.3% compared to the same quarter last year. Sell-side analysts anticipate that Western Digital Co. will post -1.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on WDC shares. Mizuho increased their price target on shares of Western Digital from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Wedbush reissued an “outperform” rating and issued a $85.00 price target on shares of Western Digital in a research report on Friday, April 26th. Citigroup started coverage on shares of Western Digital in a research report on Tuesday, May 14th. They issued a “buy” rating and a $90.00 price target for the company. Loop Capital increased their price target on shares of Western Digital from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Finally, Susquehanna increased their price target on shares of Western Digital from $80.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 11th. Six analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $82.09.

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.