Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 2,427 Shares of Western Digital Co. (NASDAQ:WDC)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Western Digital Co. (NASDAQ:WDC) by 3.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 73,508 shares of the data storage provider’s stock after acquiring an additional 2,427 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Western Digital were worth $4,383,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mather Group LLC. increased its holdings in Western Digital by 7.0% during the 4th quarter. Mather Group LLC. now owns 2,416 shares of the data storage provider’s stock worth $144,000 after purchasing an additional 159 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in Western Digital by 1.4% during the 4th quarter. Vontobel Holding Ltd. now owns 11,804 shares of the data storage provider’s stock worth $704,000 after purchasing an additional 164 shares in the last quarter. Quarry LP increased its holdings in Western Digital by 22.6% during the 3rd quarter. Quarry LP now owns 932 shares of the data storage provider’s stock worth $64,000 after purchasing an additional 172 shares in the last quarter. Inspire Investing LLC increased its holdings in Western Digital by 4.3% during the 4th quarter. Inspire Investing LLC now owns 4,324 shares of the data storage provider’s stock worth $258,000 after purchasing an additional 177 shares in the last quarter. Finally, Beta Wealth Group Inc. increased its holdings in Western Digital by 2.5% during the 4th quarter. Beta Wealth Group Inc. now owns 8,300 shares of the data storage provider’s stock worth $495,000 after purchasing an additional 200 shares in the last quarter. 92.51% of the stock is owned by institutional investors.

Insider Buying and Selling at Western Digital

In other news, SVP Gene M. Zamiska sold 1,659 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $41.36, for a total transaction of $68,616.24. Following the completion of the transaction, the senior vice president now owns 43,776 shares of the company’s stock, valued at approximately $1,810,575.36. The trade was a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.30% of the company’s stock.

Western Digital Trading Down 1.9 %

Shares of Western Digital stock opened at $43.66 on Monday. Western Digital Co. has a 52-week low of $39.42 and a 52-week high of $81.55. The stock’s 50-day simple moving average is $57.80 and its 200 day simple moving average is $63.11. The stock has a market capitalization of $15.19 billion, a P/E ratio of 10.40 and a beta of 1.42. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99.

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

Wall Street Analyst Weigh In

WDC has been the subject of a number of recent research reports. Benchmark lowered Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price objective for the company. in a report on Thursday, December 19th. Cantor Fitzgerald reduced their target price on Western Digital from $95.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Morgan Stanley reduced their target price on Western Digital from $100.00 to $93.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Wells Fargo & Company reduced their target price on Western Digital from $85.00 to $75.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Finally, Rosenblatt Securities reduced their target price on Western Digital from $115.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Western Digital has an average rating of “Moderate Buy” and a consensus target price of $80.21.

About Western Digital

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.