Mackenzie Financial Corp Sells 345 Shares of Western Digital Co. (NASDAQ:WDC)

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

A number of other hedge funds also recently made changes to their positions in the stock. Parkside Financial Bank & Trust grew its stake in shares of Western Digital by 79.1% during the 3rd quarter. Parkside Financial Bank & Trust now owns 747 shares of the data storage provider’s stock valued at $34,000 after acquiring an additional 330 shares during the period. Natixis Advisors L.P. grew its stake in shares of Western Digital by 0.9% during the 3rd quarter. Natixis Advisors L.P. now owns 37,156 shares of the data storage provider’s stock valued at $1,695,000 after acquiring an additional 338 shares during the period. Wahed Invest LLC grew its stake in shares of Western Digital by 7.3% during the 3rd quarter. Wahed Invest LLC now owns 5,010 shares of the data storage provider’s stock valued at $229,000 after acquiring an additional 340 shares during the period. Avior Wealth Management LLC boosted its stake in Western Digital by 20.8% in the 3rd quarter. Avior Wealth Management LLC now owns 2,319 shares of the data storage provider’s stock worth $106,000 after purchasing an additional 400 shares during the period. Finally, Korea Investment CORP boosted its stake in Western Digital by 0.8% in the 3rd quarter. Korea Investment CORP now owns 63,319 shares of the data storage provider’s stock worth $2,889,000 after purchasing an additional 528 shares during the period. 92.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Gene M. Zamiska sold 443 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $75.00, for a total value of $33,225.00. Following the completion of the sale, the senior vice president now directly owns 30,958 shares in the company, valued at $2,321,850. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Kimberly Alexy sold 2,648 shares of Western Digital stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.95, for a total transaction of $185,227.60. Following the completion of the sale, the director now directly owns 20,509 shares in the company, valued at $1,434,604.55. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Gene M. Zamiska sold 443 shares of Western Digital stock in a transaction on Monday, April 8th. The stock was 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 of the company’s stock, valued at $2,321,850. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Cantor Fitzgerald upped their price target on Western Digital from $70.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. UBS Group upped their price target on Western Digital from $65.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. StockNews.com downgraded Western Digital from a “hold” rating to a “sell” rating in a research note on Tuesday, February 20th. Raymond James downgraded Western Digital from an “outperform” rating to a “market perform” rating in a research note on Monday. Finally, Mizuho upped their price target on Western Digital from $66.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Western Digital currently has an average rating of “Moderate Buy” and a consensus price target of $73.72.

Western Digital Stock Performance

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

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $3 billion. Western Digital had a negative return on equity of 19.45% and a negative net margin of 19.90%. Western Digital’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the company earned ($0.69) earnings per share. As a group, equities research analysts forecast that Western Digital Co. will post -2.21 earnings per share for the current fiscal year.

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.