Cibc World Markets Corp Has $3.25 Million Stake in Western Digital Co. (NASDAQ:WDC)

Cibc World Markets Corp grew its holdings in shares of Western Digital Co. (NASDAQ:WDC - Free Report) by 23.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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.

Several other institutional investors and hedge funds also recently made changes to their positions in WDC. Versant Capital Management Inc increased its holdings in shares of Western Digital by 278.9% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider's stock valued at $25,000 after acquiring an additional 304 shares during the last quarter. True Wealth Design LLC grew 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 buying an additional 415 shares during the last quarter. Sierra Ocean LLC acquired a new stake in Western Digital during the fourth quarter worth about $29,000. Comprehensive Financial Planning Inc. PA bought a new position in Western Digital in the fourth quarter worth about $30,000. Finally, OFI Invest Asset Management acquired a new position in Western Digital in the fourth quarter valued at approximately $36,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $41.36, for a total value of $68,616.24. Following the transaction, the senior vice president now owns 43,776 shares in the company, valued at approximately $1,810,575.36. This represents a 3.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.30% of the company's stock.

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Western Digital Trading Down 2.1 %

Shares of WDC stock traded down $0.92 during trading hours on Tuesday, reaching $43.39. 8,084,802 shares of the stock traded hands, compared to its average volume of 8,784,505. The business has a fifty day moving average price of $57.45 and a 200 day moving average price of $62.98. Western Digital Co. has a 1-year low of $39.42 and a 1-year high of $61.16. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $15.09 billion, a PE ratio of 10.33 and a beta of 1.42.

Western Digital (NASDAQ:WDC - Get Free Report) last released its earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (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%. On average, equities research analysts forecast that Western Digital Co. will post 4.89 EPS for the current year.

Analyst Upgrades and Downgrades

WDC has been the topic of a number of research reports. UBS Group dropped their price target on Western Digital from $74.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Susquehanna dropped their target price on Western Digital from $83.00 to $72.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. Citigroup boosted their price target on shares of Western Digital from $60.45 to $64.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. StockNews.com cut shares of Western Digital from a "buy" rating to a "hold" rating in a report on Monday. Finally, Cantor Fitzgerald cut their price objective on shares of Western Digital from $95.00 to $65.00 and set an "overweight" rating on the stock in a research report on Friday, March 7th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.21.

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.