State of Tennessee Department of Treasury Grows Stock Position in Western Digital Co. (NASDAQ:WDC)

State of Tennessee Department of Treasury boosted its stake in shares of Western Digital Co. (NASDAQ:WDC) by 35.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 202,783 shares of the data storage provider’s stock after purchasing an additional 53,172 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Western Digital were worth $12,092,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc increased its stake in shares of Western Digital by 278.9% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock worth $25,000 after buying an additional 304 shares during the period. Sierra Ocean LLC purchased a new stake in shares of Western Digital in the 4th quarter valued at approximately $29,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Western Digital in the 4th quarter valued at $30,000. OFI Invest Asset Management purchased a new stake in shares of Western Digital during the 4th quarter worth $36,000. Finally, S.A. Mason LLC acquired a new position in shares of Western Digital during the fourth quarter worth $45,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Western Digital Stock Performance

NASDAQ:WDC opened at $37.73 on Thursday. 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 cap of $13.12 billion, a price-to-earnings ratio of 8.98 and a beta of 1.39. The firm’s fifty day moving average price is $43.56 and its 200 day moving average price is $58.26. Western Digital Co. has a 1-year low of $28.83 and a 1-year high of $81.55.

Western Digital (NASDAQ:WDC) last issued its earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a net margin of 9.95% and a return on equity of 15.68%. On average, sell-side analysts expect that Western Digital Co. will post 4.89 EPS for the current year.

Insider Activity at Western Digital

In other news, SVP Gene M. Zamiska sold 1,659 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $41.36, for a total value of $68,616.24. Following the completion of the transaction, the senior vice president now owns 43,776 shares in the company, valued at $1,810,575.36. This trade represents a 3.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. StockNews.com began coverage on Western Digital in a report on Thursday. They set a “hold” rating for the company. Mizuho dropped their price target on shares of Western Digital from $82.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, April 10th. Morgan Stanley began coverage on shares of Western Digital in a research report on Wednesday, April 16th. They set an “overweight” rating and a $46.00 price objective for the company. Susquehanna cut their price target on shares of Western Digital from $72.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Finally, Barclays decreased their price objective on shares of Western Digital from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $73.68.

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.