State of New Jersey Common Pension Fund D Buys 5,836 Shares of Western Digital Co. (NASDAQ:WDC)

State of New Jersey Common Pension Fund D raised its stake in Western Digital Co. (NASDAQ:WDC) by 4.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 126,017 shares of the data storage provider’s stock after buying an additional 5,836 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Western Digital were worth $7,514,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Versant Capital Management Inc boosted its position in shares of Western Digital by 278.9% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock valued at $25,000 after purchasing an additional 304 shares in the last quarter. Eastern Bank bought a new stake in shares of Western Digital during the 3rd quarter valued at about $27,000. Sierra Ocean LLC bought a new stake in shares of Western Digital during the 4th quarter valued at about $29,000. True Wealth Design LLC boosted its position in shares of Western Digital by 2,184.2% during the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock valued at $30,000 after purchasing an additional 415 shares in the last quarter. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of Western Digital during the 4th quarter valued at about $30,000. Institutional investors own 92.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WDC. The Goldman Sachs Group increased their price target on Western Digital from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Wells Fargo & Company cut their price target on Western Digital from $95.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Morgan Stanley cut their price target on Western Digital from $100.00 to $93.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Bank of America cut their price target on Western Digital from $89.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, UBS Group increased their price target on Western Digital from $70.00 to $74.00 and gave the stock a “neutral” rating in a report 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $84.42.

Insider Transactions at Western Digital

In related news, SVP Gene M. Zamiska sold 658 shares of Western Digital stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total transaction of $46,053.42. Following the completion of the sale, the senior vice president now owns 28,863 shares of the company’s stock, valued at approximately $2,020,121.37. This trade represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 1,347 shares of company stock valued at $93,027 over the last three months. Company insiders own 0.30% of the company’s stock.

Western Digital Price Performance

Western Digital stock opened at $72.03 on Wednesday. Western Digital Co. has a one year low of $52.77 and a one year high of $81.55. The business has a fifty day moving average price of $64.57 and a 200-day moving average price of $65.37. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26. The firm has a market capitalization of $25.05 billion, a P/E ratio of 17.15 and a beta of 1.44.

Western Digital (NASDAQ:WDC) last posted 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 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 year.

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.