5 Stocks Billionaire Steve Cohen Just Bought and Sold

3. Western Digital Corp (NASDAQ:WDC)

Value of Position: $151.93 million

Bought or Sold: Bought

In the list of 5 stocks billionaire Steve Cohen just bought and sold Western Digital Corp (NASDAQ:WDC) is the only company added to Point72’s equity portfolio. At the end of September, the fund held 3.33 million shares. Overall the number of investors bullish on Western Digital Corp (NASDAQ:WDC) inched up by five to 44. Western Digital Corp (NASDAQ:WDC) is engaged in manufacturing of data storage solutions including devices, data center systems and cloud storage services.

In November, Goldman Sachs upgraded its rating on Western Digital Corp (NASDAQ:WDC)’s stock to “Neutral” from “Sell” and raised the price target to $48 from $31, citing improved outlook for NAND flash memory and the potential recovery in Nearline HDD segment.