National Bank of Canada FI grew its stake in shares of Western Digital Co. (NASDAQ:WDC - Free Report) by 20.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 166,891 shares of the data storage provider's stock after purchasing an additional 28,046 shares during the quarter. National Bank of Canada FI's holdings in Western Digital were worth $9,952,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in WDC. Versant Capital Management Inc grew its holdings 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 worth $25,000 after acquiring an additional 304 shares during the period. Sierra Ocean LLC purchased a new stake in Western Digital in the fourth quarter worth $29,000. Comprehensive Financial Planning Inc. PA bought a new position in Western Digital in the fourth quarter worth $30,000. OFI Invest Asset Management purchased a new position in Western Digital during the fourth quarter valued at $36,000. Finally, S.A. Mason LLC bought a new stake in shares of Western Digital during the 4th quarter valued at $45,000. Institutional investors own 92.51% of the company's stock.
Western Digital Stock Performance
Shares of WDC stock traded up $0.39 during trading hours on Tuesday, reaching $31.55. 17,382,494 shares of the company traded hands, compared to its average volume of 6,227,618. The firm has a 50-day moving average price of $52.04 and a 200 day moving average price of $61.21. The company has a market cap of $10.97 billion, a P/E ratio of 7.51 and a beta of 1.39. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26. Western Digital Co. has a 12-month low of $28.83 and a 12-month high of $81.55.
Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings results 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%. As a group, sell-side analysts predict that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.
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 stock was sold at an average price of $41.36, for a total value of $68,616.24. Following the completion of the transaction, the senior vice president now directly owns 43,776 shares in the company, valued at $1,810,575.36. This represents a 3.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.30% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several research firms recently weighed in on WDC. 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 research note on Thursday, December 19th. Wells Fargo & Company cut their target price on Western Digital from $85.00 to $75.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 25th. Susquehanna lowered their price target on Western Digital from $83.00 to $72.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Bank of America cut their price objective on shares of Western Digital from $89.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Finally, StockNews.com began coverage on shares of Western Digital in a report on Tuesday. They issued a "hold" rating for the company. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Western Digital has an average rating of "Moderate Buy" and a consensus target price of $80.21.
Get Our Latest Analysis on WDC
Western Digital Profile
(
Free Report)
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.
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