Oregon Public Employees Retirement Fund Grows Stock Position in Western Digital Co. (NASDAQ:WDC)

Oregon Public Employees Retirement Fund boosted its position in Western Digital Co. (NASDAQ:WDC) by 6.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 29,617 shares of the data storage provider’s stock after purchasing an additional 1,716 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Western Digital were worth $1,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. First Horizon Advisors Inc. increased its position in Western Digital by 5.4% in the third quarter. First Horizon Advisors Inc. now owns 2,929 shares of the data storage provider’s stock worth $200,000 after buying an additional 149 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of Western Digital by 7.0% in the fourth quarter. Mather Group LLC. now owns 2,416 shares of the data storage provider’s stock worth $144,000 after acquiring an additional 159 shares during the period. Vontobel Holding Ltd. boosted its holdings in shares of Western Digital by 1.4% in the fourth quarter. Vontobel Holding Ltd. now owns 11,804 shares of the data storage provider’s stock worth $704,000 after acquiring an additional 164 shares during the period. Quarry LP boosted its holdings in shares of Western Digital by 22.6% in the third quarter. Quarry LP now owns 932 shares of the data storage provider’s stock worth $64,000 after acquiring an additional 172 shares during the period. Finally, Inspire Investing LLC boosted its holdings in shares of Western Digital by 4.3% in the fourth quarter. Inspire Investing LLC now owns 4,324 shares of the data storage provider’s stock worth $258,000 after acquiring an additional 177 shares during the period. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital Trading Up 1.5 %

Shares of WDC stock opened at $48.93 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average price of $63.42 and a two-hundred day moving average price of $65.21. Western Digital Co. has a 12-month low of $39.58 and a 12-month high of $61.16. The firm has a market cap of $17.02 billion, a P/E ratio of 11.65 and a beta of 1.44.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. Equities analysts anticipate that Western Digital Co. will post 4.89 EPS for the current fiscal year.

Analysts Set New Price Targets

WDC has been the subject of a number of analyst reports. Benchmark lowered Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price target for the company. in a report on Thursday, December 19th. Bank of America cut their price target on Western Digital from $89.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Susquehanna cut their price target on Western Digital from $83.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Mizuho cut their price target on Western Digital from $90.00 to $82.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Finally, Morgan Stanley dropped their price objective on Western Digital from $100.00 to $93.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Western Digital presently has a consensus rating of “Moderate Buy” and an average price target of $83.05.

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.