Mutual of America Capital Management LLC Has $2.47 Million Position in Western Digital Co. (NASDAQ:WDC)

Mutual of America Capital Management LLC grew its holdings in Western Digital Co. (NASDAQ:WDC) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 41,409 shares of the data storage provider’s stock after buying an additional 1,205 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Western Digital were worth $2,469,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc boosted its position in Western Digital by 278.9% in the 4th 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 during the last quarter. Sierra Ocean LLC acquired a new position in shares of Western Digital during the fourth quarter valued at $29,000. True Wealth Design LLC lifted its stake in shares of Western Digital by 2,184.2% during the third quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock valued at $30,000 after acquiring an additional 415 shares during the period. Comprehensive Financial Planning Inc. PA bought a new position in Western Digital in the fourth quarter valued at about $30,000. Finally, Capital Performance Advisors LLP bought a new stake in Western Digital during the 3rd quarter worth about $41,000. 92.51% of the stock is owned by institutional investors.

Western Digital Price Performance

Shares of WDC opened at $41.70 on Friday. The company has a 50 day moving average of $62.03 and a 200-day moving average of $64.70. 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 stock has a market capitalization of $14.50 billion, a P/E ratio of 9.93 and a beta of 1.42. Western Digital Co. has a twelve month low of $39.58 and a twelve month high of $61.16.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 EPS 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%. As a group, equities research analysts forecast that Western Digital Co. will post 4.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WDC has been the subject of several analyst reports. Mizuho lowered their price target on shares of Western Digital from $90.00 to $82.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Benchmark cut shares of Western Digital from a “buy” rating to a “hold” rating and set a $70.00 target price for the company. in a research report on Thursday, December 19th. 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 note on Wednesday, February 12th. Morgan Stanley reduced their target price on Western Digital from $100.00 to $93.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Citigroup upped their price target on Western Digital from $60.45 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.47.

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.