Western Digital Co. (NASDAQ:WDC) Stock Holdings Decreased by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in Western Digital Co. (NASDAQ:WDC) by 12.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 61,126 shares of the data storage provider’s stock after selling 8,455 shares during the quarter. State of Alaska Department of Revenue’s holdings in Western Digital were worth $4,170,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in WDC. Kodai Capital Management LP acquired a new stake in shares of Western Digital during the fourth quarter worth approximately $212,900,000. Norges Bank acquired a new stake in shares of Western Digital during the fourth quarter worth approximately $150,958,000. Westfield Capital Management Co. LP acquired a new stake in shares of Western Digital during the fourth quarter worth approximately $48,466,000. Mizuho Markets Americas LLC acquired a new stake in shares of Western Digital during the fourth quarter worth approximately $37,260,000. Finally, DNB Asset Management AS lifted its stake in Western Digital by 8.6% in the fourth quarter. DNB Asset Management AS now owns 5,587,698 shares of the data storage provider’s stock valued at $292,628,000 after acquiring an additional 443,903 shares during the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Western Digital

In other news, SVP Gene M. Zamiska sold 416 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $71.88, for a total value of $29,902.08. Following the sale, the senior vice president now owns 30,321 shares in the company, valued at approximately $2,179,473.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Gene M. Zamiska sold 443 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $75.00, for a total value of $33,225.00. Following the sale, the senior vice president now owns 30,958 shares in the company, valued at approximately $2,321,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Gene M. Zamiska sold 416 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $71.88, for a total transaction of $29,902.08. Following the completion of the sale, the senior vice president now owns 30,321 shares in the company, valued at approximately $2,179,473.48. The disclosure for this sale can be found here. Insiders have sold 27,931 shares of company stock valued at $2,053,368 in the last 90 days. 0.25% of the stock is currently owned by company insiders.

Western Digital Stock Performance

Shares of Western Digital stock opened at $77.79 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.86 and a quick ratio of 1.07. The company’s fifty day moving average price is $74.95 and its two-hundred day moving average price is $65.04. Western Digital Co. has a 52-week low of $35.62 and a 52-week high of $81.55.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, April 25th. The data storage provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.42. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.37 billion. Western Digital had a negative net margin of 12.87% and a negative return on equity of 13.75%. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.57) EPS. Analysts anticipate that Western Digital Co. will post -1.45 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. StockNews.com cut shares of Western Digital from a “hold” rating to a “sell” rating in a research note on Friday, June 28th. Barclays lifted their target price on shares of Western Digital from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Bank of America lifted their target price on shares of Western Digital from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Robert W. Baird lifted their target price on shares of Western Digital from $65.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $115.00 target price on shares of Western Digital in a research note on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $82.09.

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.