New York State Teachers Retirement System Trims Stake in Western Digital Co. (NASDAQ:WDC)

New York State Teachers Retirement System reduced its position in Western Digital Co. (NASDAQ:WDC - Free Report) by 3.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 269,830 shares of the data storage provider's stock after selling 10,683 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of Western Digital worth $18,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in WDC. Eastern Bank purchased a new stake in shares of Western Digital during the third quarter worth $27,000. Fairfield Financial Advisors LTD bought a new position in Western Digital in the 2nd quarter worth about $29,000. Fidelis Capital Partners LLC purchased a new position in Western Digital during the 1st quarter valued at about $30,000. OFI Invest Asset Management bought a new stake in shares of Western Digital during the second quarter valued at about $34,000. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Western Digital in the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 92.51% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on WDC shares. UBS Group decreased their target price on shares of Western Digital from $74.00 to $72.00 and set a "neutral" rating on the stock in a report on Thursday, October 24th. Benchmark reissued a "buy" rating and set a $92.00 price objective on shares of Western Digital in a research note on Friday, October 25th. Rosenblatt Securities reiterated a "buy" rating and set a $115.00 price target on shares of Western Digital in a report on Friday, October 25th. Summit Insights lowered shares of Western Digital from a "buy" rating to a "hold" rating in a report on Thursday, August 1st. Finally, StockNews.com upgraded shares of Western Digital from a "sell" rating to a "hold" rating in a research report on Saturday, July 6th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $87.71.

Western Digital Stock Up 0.9 %

NASDAQ WDC traded up $0.57 during trading hours on Friday, reaching $65.88. 3,824,525 shares of the company's stock traded hands, compared to its average volume of 5,591,910. Western Digital Co. has a 52-week low of $41.78 and a 52-week high of $81.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.91. The firm has a 50-day simple moving average of $65.69 and a 200 day simple moving average of $69.53. The firm has a market cap of $22.77 billion, a PE ratio of 38.75 and a beta of 1.40.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The data storage provider reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.23. Western Digital had a return on equity of 8.57% and a net margin of 4.81%. The firm had revenue of $4.10 billion for the quarter, compared to analysts' expectations of $4.12 billion. During the same period in the previous year, the firm posted ($1.97) EPS. The business's revenue for the quarter was up 48.9% compared to the same quarter last year. Sell-side analysts anticipate that Western Digital Co. will post 6.56 EPS for the current fiscal year.

Insider Transactions at Western Digital

In other Western Digital news, EVP Robert Soderbery sold 30,767 shares of the firm's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $68.01, for a total transaction of $2,092,463.67. Following the completion of the sale, the executive vice president now directly owns 135,398 shares in the company, valued at approximately $9,208,417.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO David Goeckeler sold 75,000 shares of the firm's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $72.58, for a total transaction of $5,443,500.00. Following the sale, the chief executive officer now owns 821,630 shares of the company's stock, valued at $59,633,905.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Robert Soderbery sold 30,767 shares of the business's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $68.01, for a total transaction of $2,092,463.67. Following the transaction, the executive vice president now directly owns 135,398 shares of the company's stock, valued at $9,208,417.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 200,715 shares of company stock valued at $14,002,914. Insiders own 0.30% of the company's stock.

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.