Dendur Capital LP Makes New Investment in Western Digital Co. (NASDAQ:WDC)

Dendur Capital LP bought a new stake in Western Digital Co. (NASDAQ:WDC) in the 4th quarter, Holdings Channel.com reports. The fund bought 494,000 shares of the data storage provider’s stock, valued at approximately $29,457,000. Western Digital makes up 3.0% of Dendur Capital LP’s investment portfolio, making the stock its 12th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in Western Digital during the 4th quarter worth $352,572,000. AMF Tjanstepension AB bought a new position in shares of Western Digital in the 4th quarter worth $94,181,000. Vanguard Group Inc. grew its stake in shares of Western Digital by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 42,459,767 shares of the data storage provider’s stock worth $2,531,876,000 after purchasing an additional 1,439,149 shares during the period. Geode Capital Management LLC increased its holdings in Western Digital by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 8,745,264 shares of the data storage provider’s stock valued at $520,450,000 after purchasing an additional 823,656 shares during the last quarter. Finally, Parnassus Investments LLC lifted its stake in Western Digital by 24.5% in the fourth quarter. Parnassus Investments LLC now owns 2,980,047 shares of the data storage provider’s stock valued at $177,700,000 after buying an additional 586,924 shares during the period. Institutional investors own 92.51% of the company’s stock.

Insider Activity at Western Digital

In related news, SVP Gene M. Zamiska sold 1,659 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $41.36, for a total transaction of $68,616.24. Following the transaction, the senior vice president now directly owns 43,776 shares in the company, valued at approximately $1,810,575.36. The trade was a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wells Fargo & Company restated a “neutral” rating on shares of Western Digital in a research report on Friday, April 11th. Cantor Fitzgerald lowered their target price on shares of Western Digital from $95.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Mizuho cut their target price on shares of Western Digital from $82.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday, April 10th. StockNews.com assumed coverage on shares of Western Digital in a report on Wednesday, April 16th. They issued a “hold” rating for the company. Finally, The Goldman Sachs Group raised their price objective on Western Digital from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $73.68.

Western Digital Price Performance

NASDAQ WDC opened at $36.68 on Wednesday. Western Digital Co. has a 12-month low of $28.83 and a 12-month high of $81.55. The firm’s 50 day moving average is $44.17 and its 200-day moving average is $58.40. The company has a market capitalization of $12.76 billion, a PE ratio of 8.73 and a beta of 1.39. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60.

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

Western Digital Company 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.