Kentucky Retirement Systems Has $1.34 Million Stock Holdings in Western Digital Co. (NASDAQ:WDC)

Kentucky Retirement Systems decreased its position in shares of Western Digital Co. (NASDAQ:WDC) by 1.4% during the 4th quarter, HoldingsChannel reports. The fund owned 22,438 shares of the data storage provider’s stock after selling 310 shares during the period. Kentucky Retirement Systems’ holdings in Western Digital were worth $1,338,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Western Digital by 3.2% during the 3rd quarter. State Street Corp now owns 13,572,686 shares of the data storage provider’s stock valued at $926,879,000 after acquiring an additional 423,651 shares in the last quarter. Geode Capital Management LLC raised its position in Western Digital by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 7,921,608 shares of the data storage provider’s stock worth $539,355,000 after purchasing an additional 76,781 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Western Digital by 24.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,711,428 shares of the data storage provider’s stock worth $253,453,000 after purchasing an additional 732,344 shares during the last quarter. Maple Rock Capital Partners Inc. raised its position in Western Digital by 13.2% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 3,287,400 shares of the data storage provider’s stock worth $224,497,000 after purchasing an additional 383,390 shares during the last quarter. Finally, Holocene Advisors LP raised its position in Western Digital by 25.7% during the 3rd quarter. Holocene Advisors LP now owns 3,192,762 shares of the data storage provider’s stock worth $218,034,000 after purchasing an additional 651,847 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insider Buying and Selling

In related news, SVP Gene M. Zamiska sold 658 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total value of $46,053.42. Following the sale, the senior vice president now owns 28,863 shares in the company, valued at approximately $2,020,121.37. This trade represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

WDC has been the subject of several analyst reports. Robert W. Baird lowered 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $95.00 price objective on shares of Western Digital in a research note on Tuesday, February 18th. Citigroup dropped their price objective on Western Digital from $82.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. The Goldman Sachs Group boosted their price objective on Western Digital from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, UBS Group boosted their price objective on Western Digital from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Western Digital currently has an average rating of “Moderate Buy” and a consensus target price of $84.42.

Western Digital Price Performance

Shares of NASDAQ WDC opened at $68.71 on Monday. The stock has a fifty day simple moving average of $64.78 and a two-hundred day simple moving average of $65.66. Western Digital Co. has a 1-year low of $52.77 and a 1-year high of $81.55. The firm has a market cap of $23.90 billion, a price-to-earnings ratio of 16.36 and a beta of 1.44. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60.

Western Digital (NASDAQ:WDC) last posted its earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (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%. Analysts anticipate that Western Digital Co. will post 4.89 earnings per share for the current year.

Western Digital Company 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.