Oregon Public Employees Retirement Fund Buys 1,716 Shares of Western Digital Co. (NASDAQ:WDC)

Oregon Public Employees Retirement Fund raised its stake in Western Digital Co. (NASDAQ:WDC) by 6.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,617 shares of the data storage provider’s stock after buying 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 SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc boosted its position in shares of Western Digital by 278.9% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock valued at $25,000 after purchasing an additional 304 shares in the last quarter. Sierra Ocean LLC bought a new stake in shares of Western Digital during the 4th quarter valued at about $29,000. True Wealth Design LLC boosted its position in shares of Western Digital by 2,184.2% during the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock valued at $30,000 after purchasing an additional 415 shares in the last quarter. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Western Digital during the 4th quarter valued at about $30,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Western Digital during the 3rd quarter valued at about $41,000. Institutional investors own 92.51% of the company’s stock.

Western Digital Stock Performance

Shares of WDC opened at $48.93 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $17.02 billion, a price-to-earnings ratio of 11.65 and a beta of 1.44. The stock has a 50 day moving average of $63.42 and a 200 day moving average of $65.21. Western Digital Co. has a 12 month low of $39.58 and a 12 month high of $61.16.

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on WDC. Benchmark lowered Western Digital from a “buy” rating to a “hold” rating and set a $70.00 target price on the stock. in a research report on Thursday, December 19th. Morgan Stanley cut their price target on Western Digital from $100.00 to $93.00 and set an “overweight” rating on the stock 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 on the stock in a report on Thursday, January 16th. Barclays cut their price target on Western Digital from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Mizuho cut their price target on Western Digital from $90.00 to $82.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.05.

About Western Digital

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.