Illinois Municipal Retirement Fund Sells 11,991 Shares of Western Digital Co. (NASDAQ:WDC)

Illinois Municipal Retirement Fund lowered its holdings in Western Digital Co. (NASDAQ:WDC) by 9.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,719 shares of the data storage provider’s stock after selling 11,991 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Western Digital were worth $6,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its position in Western Digital by 32.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,131 shares of the data storage provider’s stock worth $2,691,000 after buying an additional 11,013 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Western Digital by 6.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 841,700 shares of the data storage provider’s stock worth $50,191,000 after acquiring an additional 50,188 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Western Digital by 4.0% during the fourth quarter. Principal Financial Group Inc. now owns 390,826 shares of the data storage provider’s stock valued at $23,305,000 after purchasing an additional 15,189 shares during the last quarter. Aigen Investment Management LP lifted its position in Western Digital by 124.2% during the third quarter. Aigen Investment Management LP now owns 21,412 shares of the data storage provider’s stock valued at $1,462,000 after purchasing an additional 11,860 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in Western Digital by 53.3% in the fourth quarter. Handelsbanken Fonder AB now owns 99,444 shares of the data storage provider’s stock worth $5,930,000 after purchasing an additional 34,579 shares during the last quarter. 92.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Western Digital from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $95.00 price objective on shares of Western Digital in a research report on Tuesday, February 18th. Benchmark cut 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. Citigroup upped their price target on shares of Western Digital from $60.45 to $64.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, UBS Group increased their price objective on shares of Western Digital from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.05.

Western Digital Trading Up 2.2 %

Shares of Western Digital stock opened at $50.16 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99. The company has a fifty day moving average of $63.87 and a 200 day moving average of $65.41. The company has a market capitalization of $17.45 billion, a P/E ratio of 11.94 and a beta of 1.44. Western Digital Co. has a fifty-two week low of $39.58 and a fifty-two week high of $61.16.

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

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.