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

Public Sector Pension Investment Board lifted its position in Western Digital Co. (NASDAQ:WDC) by 12.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 14,210 shares of the data storage provider’s stock after acquiring an additional 1,600 shares during the period. Public Sector Pension Investment Board’s holdings in Western Digital were worth $970,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Eastern Bank bought a new position in shares of Western Digital during the 3rd quarter worth approximately $27,000. Fairfield Financial Advisors LTD bought a new position in Western Digital during the second quarter worth $29,000. OFI Invest Asset Management acquired a new position in shares of Western Digital in the second quarter valued at $34,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Western Digital during the 2nd quarter worth about $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Western Digital during the 2nd quarter worth about $34,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WDC has been the topic of several research analyst reports. Barclays increased their price target on shares of Western Digital from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, October 25th. The Goldman Sachs Group dropped their price target on Western Digital from $79.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Susquehanna upped their price target on shares of Western Digital from $75.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Rosenblatt Securities reaffirmed a “buy” rating and set a $115.00 price target on shares of Western Digital in a research report on Friday, October 25th. Finally, Citigroup cut their price objective on shares of Western Digital from $87.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $87.71.

Western Digital Stock Performance

NASDAQ WDC opened at $71.07 on Friday. The firm’s fifty day moving average price is $67.54 and its two-hundred day moving average price is $69.03. The stock has a market cap of $24.57 billion, a PE ratio of 41.81 and a beta of 1.42. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.47. Western Digital Co. has a fifty-two week low of $46.75 and a fifty-two week high of $81.55.

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

Insider Activity

In other Western Digital news, CEO David Goeckeler sold 75,000 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $72.58, for a total value of $5,443,500.00. Following the sale, the chief executive officer now owns 821,630 shares in the company, valued at approximately $59,633,905.40. The trade was a 8.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Gene M. Zamiska sold 1,993 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $69.94, for a total value of $139,390.42. Following the transaction, the senior vice president now owns 30,608 shares of the company’s stock, valued at $2,140,723.52. This trade represents a 6.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 184,107 shares of company stock valued at $13,042,381 over the last quarter. 0.30% of the stock is owned by company insiders.

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.