Western Digital Co. (NASDAQ:WDC) Position Cut by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its position in Western Digital Co. (NASDAQ:WDC) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,438 shares of the data storage provider’s stock after selling 310 shares during the period. Kentucky Retirement Systems’ holdings in Western Digital were worth $1,338,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of WDC. Eastern Bank bought a new position in Western Digital during the third quarter worth $27,000. Versant Capital Management Inc raised its holdings in shares of Western Digital by 278.9% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock worth $25,000 after buying an additional 304 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Western Digital by 2,184.2% during the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock worth $30,000 after buying an additional 415 shares during the period. Sierra Ocean LLC acquired a new stake in Western Digital in the 4th quarter valued at $29,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in Western Digital in the fourth quarter valued at $30,000. Institutional investors own 92.51% of the company’s stock.

Analysts Set New Price Targets

WDC has been the topic of a number of research reports. Bank of America cut their target price on shares of Western Digital from $89.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Mizuho decreased their target price on Western Digital from $90.00 to $82.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $95.00 price target on shares of Western Digital in a research report on Tuesday, February 18th. The Goldman Sachs Group boosted their price objective on shares of Western Digital from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, Morgan Stanley cut their target price on shares of Western Digital from $100.00 to $93.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.42.

Western Digital Stock Down 3.6 %

Western Digital stock opened at $68.71 on Monday. 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 company’s 50-day moving average is $64.78 and its 200-day moving average is $65.66. The firm has a market capitalization of $23.90 billion, a PE ratio of 16.36 and a beta of 1.44. Western Digital Co. has a fifty-two week low of $52.77 and a fifty-two week high of $81.55.

Western Digital (NASDAQ:WDC) 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%. Sell-side analysts anticipate that Western Digital Co. will post 4.89 earnings per share for the current year.

Insider Transactions at Western Digital

In other news, SVP Gene M. Zamiska sold 658 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total transaction of $46,053.42. Following the transaction, the senior vice president now owns 28,863 shares in the company, valued at approximately $2,020,121.37. This trade represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.30% of the company’s stock.

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.