New York State Common Retirement Fund Lowers Stock Holdings in Western Digital Co. (NASDAQ:WDC)

New York State Common Retirement Fund cut its position in Western Digital Co. (NASDAQ:WDC) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,079 shares of the data storage provider’s stock after selling 2,500 shares during the quarter. New York State Common Retirement Fund owned about 0.05% of Western Digital worth $10,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of WDC. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Western Digital by 32.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,131 shares of the data storage provider’s stock worth $2,691,000 after buying an additional 11,013 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Western Digital by 6.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 841,700 shares of the data storage provider’s stock valued at $50,191,000 after acquiring an additional 50,188 shares in the last quarter. Aigen Investment Management LP boosted its position in shares of Western Digital by 124.2% during the 3rd quarter. Aigen Investment Management LP now owns 21,412 shares of the data storage provider’s stock valued at $1,462,000 after acquiring an additional 11,860 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Western Digital by 4.0% in the fourth quarter. Principal Financial Group Inc. now owns 390,826 shares of the data storage provider’s stock worth $23,305,000 after purchasing an additional 15,189 shares during the last quarter. Finally, Avala Global LP raised its stake in Western Digital by 49.0% in the third quarter. Avala Global LP now owns 1,147,700 shares of the data storage provider’s stock valued at $78,376,000 after purchasing an additional 377,500 shares in the last quarter. 92.51% of the stock is owned by institutional investors.

Western Digital Stock Performance

Shares of NASDAQ:WDC opened at $49.02 on Tuesday. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60. The company has a market cap of $17.05 billion, a price-to-earnings ratio of 11.67 and a beta of 1.44. Western Digital Co. has a 12 month low of $39.58 and a 12 month high of $61.16. The company has a 50-day moving average price of $64.45 and a 200-day moving average price of $65.59.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.36). Western Digital had a net margin of 9.95% and a return on equity of 15.68%. As a group, equities analysts anticipate that Western Digital Co. will post 4.89 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WDC. Susquehanna decreased their price target on shares of Western Digital from $83.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. UBS Group increased their target price on Western Digital from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group lifted their price target on Western Digital from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Citigroup reduced their price objective on Western Digital from $82.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Finally, Robert W. Baird dropped their target price on Western Digital from $100.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $84.42.

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.