Mutual of America Capital Management LLC Has $3.12 Million Stock Position in Western Digital Co. (NASDAQ:WDC)

Mutual of America Capital Management LLC lowered its stake in shares of Western Digital Co. (NASDAQ:WDC) by 3.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,176 shares of the data storage provider’s stock after selling 1,335 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Western Digital were worth $3,120,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. purchased a new stake in shares of Western Digital during the first quarter valued at approximately $1,242,000. Bessemer Group Inc. boosted its stake in Western Digital by 28.6% in the first quarter. Bessemer Group Inc. now owns 2,619 shares of the data storage provider’s stock valued at $179,000 after acquiring an additional 583 shares during the last quarter. Gerber LLC bought a new position in shares of Western Digital during the 4th quarter valued at approximately $567,000. State Board of Administration of Florida Retirement System increased its stake in shares of Western Digital by 6.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 382,071 shares of the data storage provider’s stock worth $26,073,000 after purchasing an additional 23,781 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Western Digital by 1,089.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,071,600 shares of the data storage provider’s stock worth $73,126,000 after acquiring an additional 981,527 shares during the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on WDC. Cantor Fitzgerald reiterated an “overweight” rating and issued a $80.00 target price on shares of Western Digital in a research note on Tuesday, September 10th. Loop Capital upped their target price on shares of Western Digital from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Evercore ISI reissued an “outperform” rating and issued a $85.00 price target on shares of Western Digital in a report on Thursday, August 15th. StockNews.com upgraded Western Digital from a “sell” rating to a “hold” rating in a research report on Saturday, July 6th. Finally, TD Cowen reduced their target price on Western Digital from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, Western Digital has an average rating of “Moderate Buy” and an average target price of $84.24.

Insiders Place Their Bets

In related news, SVP Gene M. Zamiska sold 417 shares of Western Digital stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total transaction of $27,059.13. Following the sale, the senior vice president now directly owns 28,870 shares in the company, valued at $1,873,374.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Robert Soderbery sold 12,154 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $57.09, for a total value of $693,871.86. Following the sale, the executive vice president now owns 128,413 shares in the company, valued at approximately $7,331,098.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Gene M. Zamiska sold 417 shares of Western Digital stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total value of $27,059.13. Following the completion of the transaction, the senior vice president now directly owns 28,870 shares of the company’s stock, valued at approximately $1,873,374.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,955 shares of company stock worth $1,053,560. Company insiders own 0.28% of the company’s stock.

Western Digital Stock Performance

Shares of NASDAQ:WDC opened at $66.29 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53. The company has a market cap of $21.65 billion, a price-to-earnings ratio of -13.34 and a beta of 1.39. Western Digital Co. has a 12 month low of $35.62 and a 12 month high of $81.55. The company has a 50-day moving average price of $64.43 and a 200-day moving average price of $69.54.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Wednesday, July 31st. The data storage provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.17. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.75%. The firm had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.77 billion. As a group, equities analysts anticipate that Western Digital Co. will post 7.75 EPS 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.