Maryland State Retirement & Pension System bought a new position in Western Digital Co. (NASDAQ:WDC – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 24,990 shares of the data storage provider's stock, valued at approximately $788,000.

Other institutional investors also recently made changes to their positions in the company. Wipfli Financial Advisors LLC bought a new position in shares of Western Digital during the third quarter valued at approximately $28,000. Ronald Blue Trust Inc. grew its holdings in shares of Western Digital by 299.4% during the third quarter. Ronald Blue Trust Inc. now owns 659 shares of the data storage provider's stock valued at $30,000 after purchasing an additional 494 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Western Digital by 107.3% during the second quarter. Quadrant Capital Group LLC now owns 883 shares of the data storage provider's stock valued at $40,000 after purchasing an additional 457 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Western Digital during the third quarter valued at approximately $40,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Western Digital during the first quarter valued at approximately $57,000. 85.47% of the stock is owned by institutional investors.

Western Digital Price Performance

NASDAQ WDC opened at $37.28 on Friday. The stock has a market capitalization of $11.90 billion, a P/E ratio of -128.55 and a beta of 1.68. Western Digital Co. has a 1 year low of $29.73 and a 1 year high of $63.26. The business's fifty day moving average is $39.43 and its two-hundred day moving average is $36.66. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.05 and a current ratio of 1.91.

Western Digital (NASDAQ:WDC – Get Rating) last posted its quarterly earnings results on Tuesday, January 31st. The data storage provider reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.34). Western Digital had a negative net margin of 0.59% and a positive return on equity of 5.78%. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the prior year, the company posted $2.03 EPS. Western Digital's quarterly revenue was down 35.7% on a year-over-year basis. On average, research analysts forecast that Western Digital Co. will post -4.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Raymond James started coverage on Western Digital in a report on Wednesday, March 1st. They set an "outperform" rating and a $46.00 target price for the company. Craig Hallum boosted their price objective on Western Digital from $50.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, February 1st. Mizuho upgraded Western Digital from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $38.00 to $50.00 in a research report on Friday, February 10th. Benchmark upgraded Western Digital from a "sell" rating to a "hold" rating in a research report on Friday, January 6th. Finally, StockNews.com started coverage on Western Digital in a research report on Thursday, March 16th. They set a "sell" rating for the company. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $50.19.

Western Digital Profile

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Western Digital Corp. engages in the development, manufacture, marketing, and sale of data storage devices and solutions. It operates through the Flash and Hard Disk Drive segments. The Flash segment represents flash-based data storage devices. The Hard Disk Drive segment provides hard disk storage solutions.

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