Public Employees Retirement Association of Colorado Sells 1,603 Shares of Western Digital Co. (NASDAQ:WDC)

Public Employees Retirement Association of Colorado decreased its holdings in shares of Western Digital Co. (NASDAQ:WDC) by 4.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,227 shares of the data storage provider’s stock after selling 1,603 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Western Digital were worth $2,593,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of WDC. Vanguard Group Inc. raised its stake in shares of Western Digital by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 38,579,938 shares of the data storage provider’s stock valued at $2,020,431,000 after acquiring an additional 215,207 shares in the last quarter. DNB Asset Management AS raised its position in Western Digital by 2.7% during the 2nd quarter. DNB Asset Management AS now owns 7,857,586 shares of the data storage provider’s stock valued at $595,369,000 after purchasing an additional 206,756 shares in the last quarter. Kodai Capital Management LP purchased a new stake in shares of Western Digital in the 4th quarter worth $212,900,000. Dimensional Fund Advisors LP grew its position in shares of Western Digital by 5.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,881,847 shares of the data storage provider’s stock worth $218,400,000 after buying an additional 143,074 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Western Digital by 39.6% during the second quarter. Bank of New York Mellon Corp now owns 2,861,229 shares of the data storage provider’s stock valued at $216,795,000 after buying an additional 810,977 shares during the period. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital Stock Down 0.7 %

Shares of WDC stock opened at $66.29 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 1.32. Western Digital Co. has a fifty-two week low of $35.62 and a fifty-two week high of $81.55. The firm has a market capitalization of $21.65 billion, a PE ratio of -13.34 and a beta of 1.39. The stock’s 50-day simple moving average is $64.43 and its 200-day simple moving average is $69.54.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.08 by $0.17. The business had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. Equities analysts expect that Western Digital Co. will post 7.75 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on WDC. Cantor Fitzgerald reiterated an “overweight” rating and set a $80.00 target price on shares of Western Digital in a report on Tuesday, September 10th. Mizuho boosted their price objective on shares of Western Digital from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Loop Capital upped their target price on Western Digital from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. StockNews.com upgraded Western Digital from a “sell” rating to a “hold” rating in a report on Saturday, July 6th. Finally, Summit Insights cut Western Digital from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.24.

Insider Buying and Selling at Western Digital

In related news, SVP Gene M. Zamiska sold 417 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were 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 in the company, valued at approximately $1,873,374.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, 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 owns 28,870 shares in the company, valued at approximately $1,873,374.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Robert Soderbery sold 12,154 shares of the 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 transaction, the executive vice president now owns 128,413 shares in the company, valued at approximately $7,331,098.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,955 shares of company stock worth $1,053,560. Insiders own 0.28% 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.