Western Digital Co. (NASDAQ:WDC) Shares Sold by Cidel Asset Management Inc.

Cidel Asset Management Inc. cut its position in shares of Western Digital Co. (NASDAQ:WDC) by 6.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,847 shares of the data storage provider’s stock after selling 266 shares during the quarter. Cidel Asset Management Inc.’s holdings in Western Digital were worth $229,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Sachem Head Capital Management LP lifted its stake in Western Digital by 75.2% during the third quarter. Sachem Head Capital Management LP now owns 2,030,000 shares of the data storage provider’s stock valued at $138,629,000 after purchasing an additional 871,500 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Western Digital by 24.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,711,428 shares of the data storage provider’s stock valued at $253,453,000 after buying an additional 732,344 shares in the last quarter. Holocene Advisors LP lifted its position in shares of Western Digital by 25.7% during the 3rd quarter. Holocene Advisors LP now owns 3,192,762 shares of the data storage provider’s stock valued at $218,034,000 after acquiring an additional 651,847 shares during the last quarter. State Street Corp boosted its stake in shares of Western Digital by 3.2% during the 3rd quarter. State Street Corp now owns 13,572,686 shares of the data storage provider’s stock worth $926,879,000 after acquiring an additional 423,651 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. grew its holdings in shares of Western Digital by 13.2% in the 3rd quarter. Maple Rock Capital Partners Inc. now owns 3,287,400 shares of the data storage provider’s stock worth $224,497,000 after acquiring an additional 383,390 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Trading Down 0.0 %

NASDAQ:WDC opened at $64.46 on Monday. 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 market capitalization of $22.42 billion, a P/E ratio of 15.35 and a beta of 1.44. The stock’s 50 day moving average price is $64.94 and its 200 day moving average price is $65.14. Western Digital Co. has a 52 week low of $52.77 and a 52 week high of $81.55.

Western Digital (NASDAQ:WDC) last released 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 net margin of 9.95% and a return on equity of 15.68%. On average, research analysts forecast that Western Digital Co. will post 4.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on WDC shares. Wedbush reiterated an “outperform” rating and issued a $95.00 price target on shares of Western Digital in a research report on Thursday, January 30th. Morgan Stanley decreased their target price on shares of Western Digital from $100.00 to $93.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Benchmark lowered shares of Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price target on the stock. in a report on Thursday, December 19th. Barclays reduced their price target on shares of Western Digital from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $95.00 price objective on shares of Western Digital in a research report on Thursday, January 30th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.21.

Insider Buying and Selling at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 658 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total transaction of $46,053.42. Following the transaction, the senior vice president now owns 28,863 shares in the company, valued at $2,020,121.37. This trade represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 1,347 shares of company stock worth $93,027 over the last three months. Corporate insiders own 0.30% of the company’s stock.

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.