Mutual of America Capital Management LLC Has $2.75 Million Stock Position in Western Digital Co. (NASDAQ:WDC)

Mutual of America Capital Management LLC lessened its stake in shares of Western Digital Co. (NASDAQ:WDC) by 2.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,204 shares of the data storage provider’s stock after selling 972 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Western Digital were worth $2,746,000 at the end of the most recent reporting period.

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

Insider Activity at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 2,900 shares of Western Digital stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $61.48, for a total transaction of $178,292.00. Following the transaction, the senior vice president now directly owns 37,448 shares of the company’s stock, valued at approximately $2,302,303.04. This trade represents a 7.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robert Soderbery sold 30,767 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $68.01, for a total transaction of $2,092,463.67. Following the completion of the sale, the executive vice president now owns 135,398 shares of the company’s stock, valued at approximately $9,208,417.98. The trade was a 18.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 188,520 shares of company stock valued at $13,306,224 over the last three months. 0.30% of the stock is owned by corporate insiders.

Western Digital Price Performance

Western Digital stock opened at $66.43 on Friday. The firm has a market capitalization of $22.97 billion, a P/E ratio of 39.08 and a beta of 1.40. Western Digital Co. has a one year low of $46.05 and a one year high of $81.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.91. The business has a fifty day moving average price of $66.48 and a 200-day moving average price of $69.10.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on WDC shares. Susquehanna lifted their target price on Western Digital from $75.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Morgan Stanley upped their target price on shares of Western Digital from $94.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Barclays raised their price target on shares of Western Digital from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Citigroup reduced their price objective on shares of Western Digital from $95.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $115.00 target price on shares of Western Digital in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Western Digital has a consensus rating of “Moderate Buy” and a consensus price target of $87.71.

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.