Western Digital Co. (NASDAQ:WDC) Shares Purchased by Cibc World Market Inc.

Cibc World Market Inc. grew its position in shares of Western Digital Co. (NASDAQ:WDCGet Rating) by 1.2% during the second quarter, HoldingsChannel reports. The firm owned 25,556 shares of the data storage provider’s stock after buying an additional 309 shares during the period. Cibc World Market Inc.’s holdings in Western Digital were worth $1,146,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Greenwich Wealth Management LLC increased its stake in Western Digital by 0.7% during the second quarter. Greenwich Wealth Management LLC now owns 40,973 shares of the data storage provider’s stock valued at $1,837,000 after purchasing an additional 266 shares during the last quarter. Financial Gravity Asset Management Inc. lifted its holdings in Western Digital by 148.0% in the 2nd quarter. Financial Gravity Asset Management Inc. now owns 496 shares of the data storage provider’s stock valued at $334,000 after acquiring an additional 296 shares during the last quarter. V Wealth Advisors LLC lifted its holdings in Western Digital by 5.7% in the 2nd quarter. V Wealth Advisors LLC now owns 5,572 shares of the data storage provider’s stock valued at $250,000 after acquiring an additional 300 shares during the last quarter. Hartford Investment Management Co. raised its holdings in Western Digital by 1.0% during the 2nd quarter. Hartford Investment Management Co. now owns 29,965 shares of the data storage provider’s stock worth $1,343,000 after buying an additional 303 shares during the period. Finally, Pinnacle Associates Ltd. raised its holdings in Western Digital by 2.8% during the 1st quarter. Pinnacle Associates Ltd. now owns 11,550 shares of the data storage provider’s stock worth $573,000 after buying an additional 315 shares during the period. Hedge funds and other institutional investors own 84.57% of the company’s stock.

Western Digital Stock Performance

Shares of WDC opened at $36.86 on Monday. The company has a current ratio of 1.83, a quick ratio of 1.05 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $11.71 billion, a price-to-earnings ratio of 12.71 and a beta of 1.53. The stock has a 50 day moving average of $35.57 and a 200 day moving average of $44.97. Western Digital Co. has a 12 month low of $31.56 and a 12 month high of $69.36.

Analyst Upgrades and Downgrades

WDC has been the topic of a number of research reports. Credit Suisse Group dropped their target price on Western Digital to $42.00 in a report on Thursday, October 27th. Rosenblatt Securities lowered their price target on Western Digital from $45.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, September 16th. StockNews.com cut Western Digital from a “hold” rating to a “sell” rating in a research report on Monday, October 31st. Benchmark decreased their target price on Western Digital from $34.00 to $28.00 and set a “sell” rating for the company in a research report on Friday, September 30th. Finally, Deutsche Bank Aktiengesellschaft lowered Western Digital from a “buy” rating to a “hold” rating and cut their target price for the company from $56.00 to $40.00 in a research note on Monday, September 19th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $49.81.

Insider Activity at Western Digital

In related news, SVP Gene M. Zamiska sold 2,169 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $40.90, for a total transaction of $88,712.10. Following the completion of the sale, the senior vice president now directly owns 31,554 shares of the company’s stock, valued at $1,290,558.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Western Digital Profile

(Get Rating)

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 computing devices, such as desktop and notebook personal computers (PCs), smart video systems, gaming consoles, and set top boxes; 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; and flash-based memory wafers.

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Institutional Ownership by Quarter for Western Digital (NASDAQ:WDC)

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