CIBC Asset Management Inc Purchases 4,535 Shares of Western Digital Co. (NASDAQ:WDC)

CIBC Asset Management Inc grew its holdings in shares of Western Digital Co. (NASDAQ:WDC - Free Report) by 9.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,068 shares of the data storage provider's stock after purchasing an additional 4,535 shares during the period. CIBC Asset Management Inc's holdings in Western Digital were worth $3,105,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Creative Planning lifted its stake in Western Digital by 4.5% in the 3rd quarter. Creative Planning now owns 42,408 shares of the data storage provider's stock valued at $2,896,000 after buying an additional 1,835 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Western Digital by 8.4% during the 3rd quarter. Bleakley Financial Group LLC now owns 3,825 shares of the data storage provider's stock worth $261,000 after purchasing an additional 296 shares during the period. Blue Trust Inc. lifted its stake in shares of Western Digital by 51.2% during the 3rd quarter. Blue Trust Inc. now owns 818 shares of the data storage provider's stock worth $62,000 after purchasing an additional 277 shares during the period. Raymond James & Associates lifted its stake in shares of Western Digital by 59.2% during the 3rd quarter. Raymond James & Associates now owns 54,078 shares of the data storage provider's stock worth $3,693,000 after purchasing an additional 20,117 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Western Digital by 14.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 18,268 shares of the data storage provider's stock worth $1,248,000 after buying an additional 2,306 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company's stock.

Insider Activity at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 658 shares of Western Digital stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total value of $46,053.42. Following the transaction, the senior vice president now owns 28,863 shares in the company, valued at approximately $2,020,121.37. The trade was a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.30% of the company's stock.

Western Digital Stock Performance

Shares of NASDAQ:WDC traded down $2.58 during trading hours on Friday, hitting $68.71. The stock had a trading volume of 9,049,641 shares, compared to its average volume of 6,672,517. Western Digital Co. has a 1-year low of $52.77 and a 1-year high of $81.55. 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 firm has a market capitalization of $23.90 billion, a price-to-earnings ratio of 16.36 and a beta of 1.44. The stock's fifty day simple moving average is $64.70 and its 200 day simple moving average is $65.45.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings data 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%. Sell-side analysts anticipate that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Morgan Stanley dropped their price objective on Western Digital from $100.00 to $93.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. Benchmark downgraded Western Digital from a "buy" rating to a "hold" rating and set a $70.00 price target for the company. in a report on Thursday, December 19th. The Goldman Sachs Group increased their price target on Western Digital from $70.00 to $80.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Robert W. Baird lowered their price target on Western Digital from $100.00 to $80.00 and set an "outperform" rating for the company in a report on Thursday, January 30th. Finally, Citigroup lowered their price target on Western Digital from $82.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, January 30th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Western Digital presently has an average rating of "Moderate Buy" and an average price target of $84.42.

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.