Mutual of America Capital Management LLC Sells 1,335 Shares of Western Digital Co. (NASDAQ:WDC)

Mutual of America Capital Management LLC lowered its position in Western Digital Co. (NASDAQ:WDC) by 3.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,176 shares of the data storage provider’s stock after selling 1,335 shares during the period. Mutual of America Capital Management LLC’s holdings in Western Digital were worth $3,120,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WDC. Rise Advisors LLC purchased a new stake in shares of Western Digital during the 1st quarter valued at about $25,000. Fairfield Financial Advisors LTD bought a new position in Western Digital in the second quarter worth approximately $29,000. Fidelis Capital Partners LLC purchased a new position in shares of Western Digital during the 1st quarter worth $30,000. SOA Wealth Advisors LLC. bought a new stake in shares of Western Digital during the 1st quarter valued at $31,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Western Digital in the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Insider Activity

In related news, EVP Robert Soderbery sold 12,154 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $57.09, for a total transaction of $693,871.86. Following the transaction, the executive vice president now directly owns 128,413 shares in the company, valued at approximately $7,331,098.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Gene M. Zamiska sold 417 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total transaction of $27,059.13. Following the completion of the sale, the senior vice president now directly owns 28,870 shares of the company’s stock, valued at $1,873,374.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Soderbery sold 12,154 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $57.09, for a total transaction of $693,871.86. Following the completion of the transaction, the executive vice president now owns 128,413 shares in the company, valued at $7,331,098.17. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,955 shares of company stock valued at $1,053,560. 0.28% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on WDC shares. Cantor Fitzgerald reissued an “overweight” rating and set a $80.00 price target on shares of Western Digital in a report on Tuesday, September 10th. Citigroup reduced their target price on shares of Western Digital from $95.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. TD Cowen lowered their price target on shares of Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Loop Capital increased their price objective on shares of Western Digital from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Finally, Mizuho lifted their target price on shares of Western Digital from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $84.24.

Western Digital Stock Down 0.7 %

Shares of NASDAQ:WDC opened at $66.29 on Tuesday. The company has a 50-day moving average price of $64.43 and a 200 day moving average price of $69.54. The company has a current ratio of 1.32, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53. Western Digital Co. has a 12 month low of $35.62 and a 12 month high of $81.55. The company has a market cap of $21.65 billion, a price-to-earnings ratio of -13.34 and a beta of 1.39.

Western Digital (NASDAQ:WDC) last released its earnings results on Wednesday, July 31st. The data storage provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.17. The firm 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%. As a group, equities research analysts predict that Western Digital Co. will post 7.75 earnings per share for the current year.

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.