Western Digital Co. (NASDAQ:WDC) Holdings Lifted by National Bank of Canada FI

National Bank of Canada FI grew its position in Western Digital Co. (NASDAQ:WDC) by 12.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 96,470 shares of the data storage provider’s stock after purchasing an additional 10,636 shares during the period. National Bank of Canada FI’s holdings in Western Digital were worth $7,368,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Oppenheimer & Co. Inc. acquired a new stake in shares of Western Digital in the 1st quarter worth approximately $1,242,000. Bessemer Group Inc. lifted its stake in shares of Western Digital by 28.6% in the 1st quarter. Bessemer Group Inc. now owns 2,619 shares of the data storage provider’s stock worth $179,000 after acquiring an additional 583 shares during the period. AGF Management Ltd. acquired a new stake in shares of Western Digital in the 4th quarter worth approximately $480,000. Gerber LLC acquired a new stake in shares of Western Digital in the 4th quarter worth approximately $567,000. Finally, State Board of Administration of Florida Retirement System lifted its stake in shares of Western Digital by 6.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 382,071 shares of the data storage provider’s stock worth $26,073,000 after acquiring an additional 23,781 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.

Western Digital Stock Performance

Shares of WDC opened at $62.61 on Tuesday. The company’s fifty day moving average is $67.14 and its 200-day moving average is $69.27. Western Digital Co. has a 12 month low of $35.62 and a 12 month high of $81.55. The firm has a market cap of $20.44 billion, a price-to-earnings ratio of -12.60 and a beta of 1.39. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.53.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.08 by $0.17. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. The company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.77 billion. Equities analysts expect that Western Digital Co. will post 7.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Mizuho upped their price target on shares of Western Digital from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Susquehanna cut their target price on shares of Western Digital from $88.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Citigroup increased their target price on shares of Western Digital from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Loop Capital increased their target price on shares of Western Digital from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 target price on shares of Western Digital in a research note on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.18.

Insider Activity at Western Digital

In related news, SVP Gene M. Zamiska sold 417 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total value of $27,059.13. Following the transaction, the senior vice president now directly owns 28,870 shares in the company, valued at approximately $1,873,374.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Western Digital news, SVP Gene M. Zamiska sold 2,169 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $61.96, for a total value of $134,391.24. Following the sale, the senior vice president now directly owns 32,601 shares in the company, valued at approximately $2,019,957.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Gene M. Zamiska sold 417 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total transaction of $27,059.13. Following the completion of the sale, the senior vice president now owns 28,870 shares in the company, valued at $1,873,374.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,174 shares of company stock worth $1,070,642. 0.28% of the stock is owned by insiders.

Western Digital Company 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.