Western Digital Co. (NASDAQ:WDC) Shares Acquired by Cibc World Markets Corp

Cibc World Markets Corp lifted its holdings in shares of Western Digital Co. (NASDAQ:WDC) by 23.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,530 shares of the data storage provider’s stock after buying an additional 10,251 shares during the quarter. Cibc World Markets Corp’s holdings in Western Digital were worth $3,252,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Versant Capital Management Inc increased its position in shares of Western Digital by 278.9% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock worth $25,000 after purchasing an additional 304 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Western Digital during the fourth quarter worth approximately $29,000. True Wealth Design LLC increased its position in shares of Western Digital by 2,184.2% during the third quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock worth $30,000 after purchasing an additional 415 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Western Digital during the fourth quarter worth approximately $30,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Western Digital during the fourth quarter worth approximately $36,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Western Digital Price Performance

WDC opened at $44.51 on Friday. The stock’s 50-day moving average price is $58.19 and its 200 day moving average price is $63.26. Western Digital Co. has a 12-month low of $39.42 and a 12-month high of $81.55. 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 firm has a market cap of $15.48 billion, a price-to-earnings ratio of 10.60 and a beta of 1.42.

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

Wall Street Analysts Forecast Growth

WDC has been the subject of several analyst reports. Wells Fargo & Company dropped their target price on Western Digital from $85.00 to $75.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Barclays dropped their target price on Western Digital from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Mizuho dropped their target price on Western Digital from $90.00 to $82.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Susquehanna dropped their target price on Western Digital from $83.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Finally, Bank of America dropped their target price on Western Digital from $89.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $80.21.

Insider Buying and Selling

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $41.36, for a total value of $68,616.24. Following the sale, the senior vice president now owns 43,776 shares of the company’s stock, valued at $1,810,575.36. This trade represents a 3.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is owned by corporate insiders.

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.