Retirement Systems of Alabama Has $3.74 Million Stock Holdings in Western Digital Co. (NASDAQ:WDC)

Retirement Systems of Alabama decreased its position in shares of Western Digital Co. (NASDAQ:WDC) by 1.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 71,460 shares of the data storage provider’s stock after selling 881 shares during the period. Retirement Systems of Alabama’s holdings in Western Digital were worth $3,742,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Naples Money Management LLC bought a new position in shares of Western Digital during the 4th quarter valued at $26,000. Lindbrook Capital LLC raised its holdings in Western Digital by 121.7% during the fourth quarter. Lindbrook Capital LLC now owns 614 shares of the data storage provider’s stock valued at $32,000 after buying an additional 337 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Western Digital by 79.1% in the third quarter. Parkside Financial Bank & Trust now owns 747 shares of the data storage provider’s stock worth $34,000 after buying an additional 330 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Western Digital during the 3rd quarter worth about $41,000. Finally, CVA Family Office LLC acquired a new position in shares of Western Digital during the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Insider Buying and Selling at Western Digital

In other Western Digital news, Director Kimberly Alexy sold 2,648 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.95, for a total value of $185,227.60. Following the transaction, the director now directly owns 20,509 shares in the company, valued at $1,434,604.55. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Western Digital news, Director Kimberly Alexy sold 2,648 shares of Western Digital 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 transaction, the director now owns 20,509 shares in the company, valued at approximately $1,434,604.55. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Gene M. Zamiska sold 443 shares of the business’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 transaction, the senior vice president now directly owns 30,958 shares in the company, valued at approximately $2,321,850. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Western Digital Stock Performance

NASDAQ WDC opened at $72.60 on Tuesday. The stock has a market cap of $23.71 billion, a P/E ratio of -14.61 and a beta of 1.53. The company has a quick ratio of 1.07, a current ratio of 1.86 and a debt-to-equity ratio of 0.72. Western Digital Co. has a twelve month low of $32.01 and a twelve month high of $76.92. The company’s 50-day simple moving average is $66.96 and its 200 day simple moving average is $56.18.

Western Digital (NASDAQ:WDC) last issued its earnings results on Thursday, April 25th. The data storage provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.42. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.37 billion. Western Digital had a negative return on equity of 13.75% and a negative net margin of 12.87%. Western Digital’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.57) EPS. As a group, research analysts forecast that Western Digital Co. will post -1.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on WDC. Argus boosted their target price on Western Digital from $68.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Benchmark raised shares of Western Digital from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Friday, April 26th. StockNews.com upgraded shares of Western Digital from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Raymond James cut shares of Western Digital from an “outperform” rating to a “market perform” rating in a report on Monday, April 22nd. Finally, Wells Fargo & Company lifted their price objective on Western Digital from $72.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Western Digital presently has an average rating of “Moderate Buy” and a consensus price target of $77.76.

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.