Western Digital Co. (NASDAQ:WDC) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its holdings in Western Digital Co. (NASDAQ:WDC - Free Report) by 5.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 256,460 shares of the data storage provider's stock after selling 13,370 shares during the quarter. New York State Teachers Retirement System owned about 0.07% of Western Digital worth $15,293,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc increased its holdings in Western Digital by 278.9% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider's stock valued at $25,000 after buying an additional 304 shares in the last quarter. Eastern Bank acquired a new stake in shares of Western Digital in the 3rd quarter worth approximately $27,000. True Wealth Design LLC increased its stake in Western Digital by 2,184.2% in the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider's stock valued at $30,000 after purchasing an additional 415 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in Western Digital during the fourth quarter worth $30,000. Finally, Capital Performance Advisors LLP acquired a new position in Western Digital during the third quarter worth $41,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WDC has been the subject of a number of research analyst reports. StockNews.com started coverage on Western Digital in a research report on Tuesday. They issued a "hold" rating for the company. Rosenblatt Securities dropped their target price on shares of Western Digital from $115.00 to $95.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Robert W. Baird reduced their price target on shares of Western Digital from $100.00 to $80.00 and set an "outperform" rating on the stock in a report on Thursday, January 30th. Mizuho lowered their price target on shares of Western Digital from $90.00 to $82.00 and set an "outperform" rating on the stock in a research report on Friday, January 3rd. Finally, UBS Group lifted their price objective on Western Digital from $70.00 to $74.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $84.42.

Western Digital Trading Down 0.3 %

NASDAQ:WDC traded down $0.21 during trading hours on Thursday, reaching $71.29. 4,624,540 shares of the company were exchanged, compared to its average volume of 6,600,465. The firm has a market cap of $24.80 billion, a price-to-earnings ratio of 16.97 and a beta of 1.44. The stock has a 50 day simple moving average of $64.60 and a 200 day simple moving average of $65.41. Western Digital Co. has a 52-week low of $52.77 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.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 predict that Western Digital Co. will post 4.89 EPS for the current year.

Insider Buying and Selling

In other Western Digital news, SVP Gene M. Zamiska sold 658 shares of the firm's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total value of $46,053.42. Following the transaction, the senior vice president now directly owns 28,863 shares of the company's stock, valued at $2,020,121.37. This trade represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.30% of the company's stock.

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.