Public Sector Pension Investment Board Buys 5,445 Shares of Western Digital Co. (NASDAQ:WDC)

Public Sector Pension Investment Board boosted its position in Western Digital Co. (NASDAQ:WDC) by 76.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,610 shares of the data storage provider’s stock after purchasing an additional 5,445 shares during the period. Public Sector Pension Investment Board’s holdings in Western Digital were worth $955,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. AGF Management Ltd. lifted its position in shares of Western Digital by 28,925.8% during the 2nd quarter. AGF Management Ltd. now owns 2,202,190 shares of the data storage provider’s stock valued at $166,860,000 after buying an additional 2,194,603 shares during the last quarter. 1832 Asset Management L.P. boosted its position in Western Digital by 247.0% during the second quarter. 1832 Asset Management L.P. now owns 1,446,509 shares of the data storage provider’s stock worth $109,602,000 after purchasing an additional 1,029,658 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Western Digital by 1,089.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,071,600 shares of the data storage provider’s stock worth $73,126,000 after purchasing an additional 981,527 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Western Digital by 39.6% in the second quarter. Bank of New York Mellon Corp now owns 2,861,229 shares of the data storage provider’s stock valued at $216,795,000 after purchasing an additional 810,977 shares during the period. Finally, Troluce Capital Advisors LLC purchased a new stake in shares of Western Digital during the 4th quarter valued at approximately $20,450,000. 92.51% of the stock is owned by institutional investors.

Western Digital Price Performance

Shares of Western Digital stock opened at $66.52 on Thursday. The firm has a market capitalization of $21.72 billion, a PE ratio of -13.38 and a beta of 1.39. 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 business’s 50-day moving average price is $63.77 and its 200-day moving average price is $69.77.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.17. The business had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. Sell-side analysts forecast that Western Digital Co. will post 7.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Susquehanna reduced their price objective on shares of Western Digital from $88.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $80.00 price target on shares of Western Digital in a research report on Tuesday, September 10th. Benchmark reissued a “buy” rating and set a $92.00 price objective on shares of Western Digital in a report on Thursday, September 26th. Wedbush lifted their target price on Western Digital from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Finally, Evercore ISI reissued an “outperform” rating and issued a $85.00 price target on shares of Western Digital in a report on Thursday, August 15th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.24.

Insider Buying and Selling

In other news, EVP Robert Soderbery sold 12,154 shares of Western Digital stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $57.09, for a total value of $693,871.86. Following the transaction, the executive vice president now owns 128,413 shares in the company, valued at $7,331,098.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Western Digital news, CEO David Goeckeler sold 75,000 shares of the stock in a transaction on Thursday, September 26th. The shares were 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 owns 896,630 shares of the company’s stock, valued at approximately $63,051,021.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Soderbery sold 12,154 shares of the business’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 completion of the transaction, the executive vice president now owns 128,413 shares in the company, valued at approximately $7,331,098.17. The disclosure for this sale can be found here. Insiders have sold a total of 92,955 shares of company stock worth $6,327,560 in the last 90 days. 0.28% 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.