Capital Analysts LLC reduced its position in shares of Western Digital Corp (NASDAQ:WDC) by 77.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,978 shares of the data storage provider’s stock after selling 24,295 shares during the period. Capital Analysts LLC’s holdings in Western Digital were worth $1,201,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. Bessemer Group Inc. raised its stake in Western Digital by 17.6% during the 3rd quarter. Bessemer Group Inc. now owns 4,386 shares of the data storage provider’s stock valued at $379,000 after purchasing an additional 655 shares during the period. Amalgamated Bank raised its stake in Western Digital by 2.1% during the 3rd quarter. Amalgamated Bank now owns 33,781 shares of the data storage provider’s stock valued at $2,919,000 after purchasing an additional 689 shares during the period. Spectrum Management Group Inc. increased its stake in shares of Western Digital by 3.1% in the third quarter. Spectrum Management Group Inc. now owns 22,702 shares of the data storage provider’s stock worth $1,961,000 after acquiring an additional 690 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Western Digital by 1.4% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 51,606 shares of the data storage provider’s stock worth $4,459,000 after acquiring an additional 700 shares during the last quarter. Finally, ETRADE Capital Management LLC increased its stake in shares of Western Digital by 3.7% in the third quarter. ETRADE Capital Management LLC now owns 19,897 shares of the data storage provider’s stock worth $1,719,000 after acquiring an additional 711 shares during the last quarter. 82.27% of the stock is currently owned by institutional investors.
A number of equities analysts have recently weighed in on WDC shares. Vetr downgraded shares of Western Digital from a “strong-buy” rating to a “buy” rating and set a $97.62 price target on the stock. in a research note on Monday, November 13th. Maxim Group reaffirmed a “buy” rating and issued a $124.00 price target on shares of Western Digital in a research note on Friday, October 27th. Citigroup upped their price target on shares of Western Digital from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Summit Redstone raised shares of Western Digital from a “hold” rating to a “buy” rating in a research note on Wednesday, December 13th. Finally, Cowen reaffirmed a “buy” rating on shares of Western Digital in a research note on Wednesday, December 13th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $111.29.
Western Digital Corp (NASDAQ WDC) opened at $89.14 on Friday. Western Digital Corp has a 52-week low of $71.38 and a 52-week high of $95.77. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.55 and a quick ratio of 2.03. The stock has a market cap of $25,450.33, a PE ratio of 73.67, a P/E/G ratio of 0.36 and a beta of 1.13.
Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, January 25th. The data storage provider reported $3.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.51 by $0.44. Western Digital had a net margin of 1.93% and a return on equity of 30.78%. The firm had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same quarter in the prior year, the business posted $2.30 earnings per share. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. analysts expect that Western Digital Corp will post 12.62 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, March 29th. Western Digital’s dividend payout ratio (DPR) is presently 165.29%.
Western Digital announced that its board has authorized a stock buyback program on Thursday, November 9th that permits the company to buyback $2.10 billion in shares. This buyback authorization permits the data storage provider to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
In other news, insider Michael D. Cordano sold 1,401 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $85.00, for a total transaction of $119,085.00. Following the completion of the sale, the insider now owns 70,560 shares of the company’s stock, valued at $5,997,600. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Srinivasan Sivaram sold 10,865 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $86.71, for a total transaction of $942,104.15. Following the sale, the executive vice president now directly owns 103,251 shares of the company’s stock, valued at approximately $8,952,894.21. The disclosure for this sale can be found here. Insiders sold 163,394 shares of company stock valued at $14,227,197 in the last three months. Company insiders own 0.31% of the company’s stock.
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About Western Digital
Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions).
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