State of New Jersey Common Pension Fund D Sells 9,010 Shares of Western Digital Co. (NASDAQ:WDC)

State of New Jersey Common Pension Fund D lowered its position in Western Digital Co. (NASDAQ:WDCFree Report) by 4.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 179,698 shares of the data storage provider’s stock after selling 9,010 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of Western Digital worth $8,200,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Janiczek Wealth Management LLC bought a new position in Western Digital during the 3rd quarter valued at approximately $28,000. ST Germain D J Co. Inc. purchased a new position in shares of Western Digital in the 2nd quarter worth $26,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Western Digital in the 3rd quarter worth $41,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Western Digital by 38.4% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 915 shares of the data storage provider’s stock worth $35,000 after buying an additional 254 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Western Digital during the first quarter valued at $57,000. Institutional investors own 83.38% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on WDC shares. TD Cowen lifted their target price on Western Digital from $50.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Wedbush restated an “outperform” rating and issued a $60.00 price objective on shares of Western Digital in a research report on Thursday, October 26th. The Goldman Sachs Group boosted their price objective on Western Digital from $48.00 to $58.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Wells Fargo & Company boosted their price objective on Western Digital from $62.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Finally, Susquehanna boosted their price objective on Western Digital from $38.00 to $46.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Western Digital presently has a consensus rating of “Moderate Buy” and an average price target of $59.29.

View Our Latest Analysis on Western Digital

Western Digital Trading Down 0.5 %

Shares of NASDAQ WDC opened at $56.82 on Monday. The business’s 50 day moving average is $52.89 and its two-hundred day moving average is $47.01. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.67 and a quick ratio of 0.98. Western Digital Co. has a 1-year low of $31.97 and a 1-year high of $60.55. The stock has a market capitalization of $18.29 billion, a P/E ratio of -7.97 and a beta of 1.57.

Western Digital (NASDAQ:WDCGet Free Report) last issued its quarterly earnings data on Monday, January 29th. The data storage provider reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($1.30) by $0.61. Western Digital had a negative return on equity of 19.49% and a negative net margin of 19.90%. The company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same period in the previous year, the firm posted ($0.69) earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, research analysts expect that Western Digital Co. will post -2.81 EPS for the current year.

Western Digital Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Western Digital (NASDAQ:WDC)

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