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

Cidel Asset Management Inc. reduced its stake in Western Digital Co. (NASDAQ:WDC) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,847 shares of the data storage provider’s stock after selling 266 shares during the period. Cidel Asset Management Inc.’s holdings in Western Digital were worth $229,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in WDC. Eastern Bank acquired a new position in shares of Western Digital during the third quarter worth $27,000. Versant Capital Management Inc increased its stake in 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 buying an additional 304 shares during the period. True Wealth Design LLC lifted its holdings in Western Digital by 2,184.2% in the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock worth $30,000 after buying an additional 415 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Western Digital in the 3rd quarter valued at about $41,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of Western Digital during the third quarter valued at about $42,000. 92.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. The Goldman Sachs Group boosted their price target on Western Digital from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Robert W. Baird cut their target price on Western Digital from $100.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Wells Fargo & Company decreased their price target on shares of Western Digital from $95.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $95.00 price target on shares of Western Digital in a report on Thursday, January 30th. Finally, Rosenblatt Securities decreased their price objective on shares of Western Digital from $115.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $84.21.

Insider Buying and Selling at Western Digital

In other news, SVP Gene M. Zamiska sold 658 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total value of $46,053.42. Following the completion of the transaction, the senior vice president now owns 28,863 shares of the company’s stock, valued at approximately $2,020,121.37. This represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 1,347 shares of company stock worth $93,027. 0.30% of the stock is owned by company insiders.

Western Digital Price Performance

Shares of WDC opened at $64.46 on Monday. Western Digital Co. has a 12 month low of $52.77 and a 12 month high of $81.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26. The stock has a fifty day moving average price of $64.94 and a 200 day moving average price of $65.14. The company has a market cap of $22.42 billion, a P/E ratio of 15.35 and a beta of 1.44.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. On average, research analysts forecast that Western Digital Co. will post 4.89 earnings per share for the current year.

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.