TIAA Trust National Association Sells 179 Shares of Western Digital Co. (NASDAQ:WDC)

TIAA Trust National Association reduced its stake in Western Digital Co. (NASDAQ:WDC) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,143 shares of the data storage provider’s stock after selling 179 shares during the period. TIAA Trust National Association’s holdings in Western Digital were worth $769,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Rise Advisors LLC bought a new stake in shares of Western Digital in the 1st quarter valued at approximately $25,000. Fidelis Capital Partners LLC bought a new stake in shares of Western Digital in the 1st quarter valued at approximately $30,000. SOA Wealth Advisors LLC. bought a new stake in shares of Western Digital in the 1st quarter valued at approximately $31,000. OFI Invest Asset Management bought a new stake in shares of Western Digital in the 2nd quarter valued at approximately $34,000. Finally, 1620 Investment Advisors Inc. bought a new stake in Western Digital during the 2nd quarter worth approximately $34,000. 92.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Evercore ISI restated an “outperform” rating and set a $85.00 price target on shares of Western Digital in a research report on Thursday, August 15th. Citigroup increased their price target on Western Digital from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Wedbush increased their price target on Western Digital from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Summit Insights lowered Western Digital from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Benchmark increased their price target on Western Digital from $85.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.18.

Western Digital Stock Performance

WDC stock opened at $62.61 on Friday. The business’s fifty day moving average is $67.71 and its 200-day moving average is $68.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.32 and a quick ratio of 0.78. Western Digital Co. has a twelve month low of $35.62 and a twelve month high of $81.55.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Wednesday, July 31st. The data storage provider reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.17. The company had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.77 billion. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.75%. Research analysts predict that Western Digital Co. will post 8.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Gene M. Zamiska sold 417 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total transaction of $27,059.13. Following the sale, the senior vice president now owns 28,870 shares of the company’s stock, valued at approximately $1,873,374.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Robert Soderbery sold 12,154 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $57.09, for a total transaction of $693,871.86. Following the sale, the executive vice president now owns 128,413 shares of the company’s stock, valued at approximately $7,331,098.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Gene M. Zamiska sold 417 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total value of $27,059.13. Following the sale, the senior vice president now directly owns 28,870 shares in the company, valued at approximately $1,873,374.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,174 shares of company stock valued at $1,070,642. 0.28% of the stock is owned by company insiders.

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.