Public Sector Pension Investment Board Has $970,000 Holdings in Western Digital Co. (NASDAQ:WDC)

Public Sector Pension Investment Board boosted its stake in Western Digital Co. (NASDAQ:WDC) by 12.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,210 shares of the data storage provider’s stock after buying an additional 1,600 shares during the quarter. Public Sector Pension Investment Board’s holdings in Western Digital were worth $970,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of WDC. First Horizon Advisors Inc. raised its stake in shares of Western Digital by 5.4% in the third quarter. First Horizon Advisors Inc. now owns 2,929 shares of the data storage provider’s stock valued at $200,000 after acquiring an additional 149 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Western Digital by 1.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 15,962 shares of the data storage provider’s stock worth $1,209,000 after purchasing an additional 203 shares in the last quarter. Hanseatic Management Services Inc. grew its holdings in shares of Western Digital by 2.3% during the second quarter. Hanseatic Management Services Inc. now owns 10,344 shares of the data storage provider’s stock worth $784,000 after purchasing an additional 236 shares during the last quarter. Empirical Finance LLC increased its stake in shares of Western Digital by 2.4% in the third quarter. Empirical Finance LLC now owns 10,891 shares of the data storage provider’s stock valued at $744,000 after buying an additional 256 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Western Digital by 6.0% in the third quarter. Van ECK Associates Corp now owns 4,696 shares of the data storage provider’s stock valued at $313,000 after buying an additional 267 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors.

Western Digital Stock Down 1.4 %

NASDAQ:WDC opened at $71.07 on Friday. Western Digital Co. has a 1 year low of $46.75 and a 1 year high of $81.55. The stock has a 50-day moving average price of $67.54 and a two-hundred day moving average price of $69.03. The stock has a market cap of $24.57 billion, a price-to-earnings ratio of 41.81 and a beta of 1.42. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, October 24th. The data storage provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.23. Western Digital had a return on equity of 8.57% and a net margin of 4.81%. The business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period in the previous year, the firm earned ($1.97) EPS. Western Digital’s quarterly revenue was up 48.9% compared to the same quarter last year. As a group, equities analysts expect that Western Digital Co. will post 6.56 earnings per share for the current year.

Insider Activity at Western Digital

In other news, EVP Robert Soderbery sold 30,767 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $68.01, for a total transaction of $2,092,463.67. Following the completion of the transaction, the executive vice president now directly owns 135,398 shares of the company’s stock, valued at $9,208,417.98. This trade represents a 18.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Goeckeler sold 75,000 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $70.32, for a total transaction of $5,274,000.00. Following the completion of the sale, the chief executive officer now directly owns 896,630 shares in the company, valued at approximately $63,051,021.60. This represents a 7.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 184,107 shares of company stock valued at $13,042,381. 0.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group lowered their price objective on shares of Western Digital from $79.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. TD Cowen dropped their price objective on shares of Western Digital from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Morgan Stanley upped their price objective on Western Digital from $94.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Evercore ISI restated an “outperform” rating and set a $85.00 target price on shares of Western Digital in a research report on Thursday, August 15th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $115.00 price target on shares of Western Digital in a research note on Friday, October 25th. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $87.71.

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.