New York State Common Retirement Fund Sells 2,500 Shares of Western Digital Co. (NASDAQ:WDC)

New York State Common Retirement Fund lowered its position in Western Digital Co. (NASDAQ:WDC) by 1.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 173,079 shares of the data storage provider’s stock after selling 2,500 shares during the period. New York State Common Retirement Fund’s holdings in Western Digital were worth $10,321,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc lifted its position in Western Digital by 278.9% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock valued at $25,000 after acquiring an additional 304 shares during the period. Sierra Ocean LLC bought a new position in shares of Western Digital during the fourth quarter valued at approximately $29,000. True Wealth Design LLC boosted its position in shares of 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 worth $30,000 after purchasing an additional 415 shares in the last quarter. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Western Digital in the 4th quarter worth approximately $30,000. Finally, Capital Performance Advisors LLP purchased a new position in Western Digital during the third quarter valued at $41,000. Institutional investors own 92.51% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on WDC shares. Barclays reduced their price target on Western Digital from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Mizuho decreased their target price on shares of Western Digital from $90.00 to $82.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Bank of America dropped 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 note on Thursday, January 16th. Wells Fargo & Company decreased their price objective on shares of Western Digital from $95.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Finally, Morgan Stanley cut their target price on Western Digital from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Western Digital currently has an average rating of “Moderate Buy” and an average price target of $84.42.

Western Digital Price Performance

NASDAQ WDC opened at $49.02 on Tuesday. The company has a 50-day moving average price of $64.45 and a 200-day moving average price of $65.59. Western Digital Co. has a 52 week low of $39.58 and a 52 week high of $61.16. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $17.05 billion, a P/E ratio of 11.67 and a beta of 1.44.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share 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 year.

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.