Mackenzie Financial Corp Has $1.53 Million Stake in Western Digital Co. (NASDAQ:WDC)

Mackenzie Financial Corp trimmed its position in shares of Western Digital Co. (NASDAQ:WDC) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,287 shares of the data storage provider’s stock after selling 345 shares during the period. Mackenzie Financial Corp’s holdings in Western Digital were worth $1,534,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. CWM LLC lifted its holdings in shares of Western Digital by 13.7% in the third quarter. CWM LLC now owns 8,186 shares of the data storage provider’s stock worth $374,000 after acquiring an additional 987 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Western Digital by 20.8% in the third quarter. Avior Wealth Management LLC now owns 2,319 shares of the data storage provider’s stock worth $106,000 after acquiring an additional 400 shares during the last quarter. Czech National Bank lifted its holdings in shares of Western Digital by 47.6% in the third quarter. Czech National Bank now owns 55,918 shares of the data storage provider’s stock worth $2,552,000 after acquiring an additional 18,044 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Western Digital by 5.3% in the third quarter. Asset Management One Co. Ltd. now owns 137,097 shares of the data storage provider’s stock worth $6,256,000 after acquiring an additional 6,848 shares during the last quarter. Finally, Valeo Financial Advisors LLC bought a new position in shares of Western Digital in the third quarter worth about $228,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Gene M. Zamiska sold 443 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $75.00, for a total value of $33,225.00. Following the sale, the senior vice president now owns 30,958 shares in the company, valued at approximately $2,321,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Kimberly Alexy sold 2,648 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $69.95, for a total value of $185,227.60. Following the completion of the sale, the director now owns 20,509 shares in the company, valued at approximately $1,434,604.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Gene M. Zamiska sold 443 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $75.00, for a total transaction of $33,225.00. Following the completion of the sale, the senior vice president now owns 30,958 shares of the company’s stock, valued at approximately $2,321,850. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Western Digital Stock Performance

WDC stock opened at $69.92 on Wednesday. The company’s 50-day moving average is $64.19 and its 200-day moving average is $54.57. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.67 and a quick ratio of 0.98. Western Digital Co. has a 1 year low of $31.97 and a 1 year high of $76.92.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Monday, January 29th. The data storage provider reported ($0.69) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.30) by $0.61. The company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3 billion. Western Digital had a negative net margin of 19.90% and a negative return on equity of 19.45%. The business’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.69) EPS. Equities analysts anticipate that Western Digital Co. will post -2.21 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. StockNews.com lowered shares of Western Digital from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. Raymond James cut shares of Western Digital from an “outperform” rating to a “market perform” rating in a research note on Monday. Mizuho raised their target price on Western Digital from $66.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Cantor Fitzgerald increased their price target on Western Digital from $70.00 to $100.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Evercore ISI began coverage on Western Digital in a research note on Wednesday, March 27th. They issued an “outperform” rating and a $80.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.72.

About Western Digital

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.