State of New Jersey Common Pension Fund D Has $9.73 Million Position in Western Digital Co. (NASDAQ:WDC)

State of New Jersey Common Pension Fund D raised its holdings in shares of Western Digital Co. (NASDAQ:WDC) by 3.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 185,780 shares of the data storage provider’s stock after purchasing an additional 6,082 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of Western Digital worth $9,729,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Tokio Marine Asset Management Co. Ltd. increased its stake in Western Digital by 5.5% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,663 shares of the data storage provider’s stock valued at $506,000 after purchasing an additional 502 shares in the last quarter. Atria Wealth Solutions Inc. increased its stake in Western Digital by 2.9% during the 4th quarter. Atria Wealth Solutions Inc. now owns 14,113 shares of the data storage provider’s stock valued at $739,000 after purchasing an additional 404 shares in the last quarter. Harvest Fund Management Co. Ltd increased its stake in Western Digital by 123.3% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,983 shares of the data storage provider’s stock valued at $104,000 after purchasing an additional 1,095 shares in the last quarter. GAMMA Investing LLC bought a new stake in Western Digital during the 4th quarter valued at $85,000. Finally, Parkside Financial Bank & Trust increased its stake in Western Digital by 146.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,838 shares of the data storage provider’s stock valued at $96,000 after purchasing an additional 1,091 shares in the last quarter. Institutional investors own 92.51% of the company’s stock.

Western Digital Price Performance

Shares of WDC stock traded down $0.11 during trading on Thursday, hitting $69.44. The company had a trading volume of 8,595,812 shares, compared to its average volume of 7,011,973. The company has a quick ratio of 0.98, a current ratio of 1.67 and a debt-to-equity ratio of 0.73. The stock’s 50-day moving average is $64.46 and its two-hundred day moving average is $54.68. Western Digital Co. has a 52 week low of $32.01 and a 52 week high of $76.92.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, April 25th. The data storage provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.42. The company had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.37 billion. Western Digital had a negative net margin of 19.90% and a negative return on equity of 19.45%. Western Digital’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.57) earnings per share. Research analysts predict that Western Digital Co. will post -2.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WDC has been the subject of several recent analyst reports. Mizuho upped their target price on shares of Western Digital from $66.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Susquehanna upped their target price on shares of Western Digital from $68.00 to $83.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Barclays upped their target price on shares of Western Digital from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Monday. Wells Fargo & Company upped their target price on shares of Western Digital from $72.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Finally, TD Cowen increased their price target on shares of Western Digital from $50.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.72.

Insider Buying and Selling

In related news, SVP Gene M. Zamiska sold 443 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $75.00, for a total value of $33,225.00. Following the completion of the sale, the senior vice president now owns 30,958 shares of the company’s stock, valued at $2,321,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Kimberly Alexy sold 2,648 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.95, for a total value of $185,227.60. Following the completion of the sale, the director now owns 20,509 shares of the company’s stock, valued at $1,434,604.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Gene M. Zamiska sold 443 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $75.00, for a total value of $33,225.00. Following the completion of the sale, the senior vice president now directly owns 30,958 shares of the company’s stock, valued at approximately $2,321,850. The disclosure for this sale can be found here. 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.