Aperio Group LLC increased its stake in Western Digital (NASDAQ:WDC) by 19.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 199,411 shares of the data storage provider’s stock after purchasing an additional 31,926 shares during the period. Aperio Group LLC owned 0.07% of Western Digital worth $18,400,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Public Employees Retirement Association of Colorado grew its holdings in Western Digital by 3.8% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 55,576 shares of the data storage provider’s stock worth $4,420,000 after acquiring an additional 2,033 shares during the period. Wells Fargo & Company MN grew its holdings in Western Digital by 6.6% during the 4th quarter. Wells Fargo & Company MN now owns 2,201,119 shares of the data storage provider’s stock worth $175,054,000 after acquiring an additional 136,244 shares during the period. MHI Funds LLC acquired a new stake in Western Digital during the 4th quarter worth $1,514,000. Loews Corp grew its holdings in Western Digital by 11.7% during the 4th quarter. Loews Corp now owns 139,500 shares of the data storage provider’s stock worth $11,094,000 after acquiring an additional 14,590 shares during the period. Finally, Itau Unibanco Holding S.A. grew its holdings in Western Digital by 351.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 16,296 shares of the data storage provider’s stock worth $1,296,000 after acquiring an additional 12,685 shares during the period. Hedge funds and other institutional investors own 85.69% of the company’s stock.
Shares of NASDAQ WDC opened at $86.52 on Friday. The firm has a market capitalization of $24.83 billion, a P/E ratio of 10.95, a P/E/G ratio of 0.33 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.39 and a quick ratio of 1.76. Western Digital has a 1-year low of $83.52 and a 1-year high of $85.97.
Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, April 26th. The data storage provider reported $3.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.31 by $0.32. The firm had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.93 billion. Western Digital had a net margin of 0.98% and a return on equity of 34.22%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.39 EPS. sell-side analysts expect that Western Digital will post 13.39 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Friday, June 29th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Thursday, June 28th. Western Digital’s payout ratio is presently 25.32%.
In other Western Digital news, EVP Srinivasan Sivaram sold 10,865 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Charles Ray sold 4,386 shares of the business’s stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $76.64, for a total transaction of $336,143.04. Following the sale, the executive vice president now directly owns 99,812 shares in the company, valued at $7,649,591.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 141,014 shares of company stock valued at $13,277,976. Company insiders own 0.31% of the company’s stock.
A number of analysts have commented on WDC shares. ValuEngine lowered shares of Western Digital from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Zacks Investment Research raised shares of Western Digital from a “hold” rating to a “strong-buy” rating and set a $108.00 target price for the company in a report on Friday, March 30th. Morgan Stanley lifted their target price on shares of Western Digital from $92.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, April 27th. Royal Bank of Canada lifted their target price on shares of Western Digital to $120.00 and gave the stock an “outperform” rating in a report on Monday, April 2nd. Finally, Mizuho reaffirmed a “buy” rating and set a $110.00 target price (up previously from $105.00) on shares of Western Digital in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $111.40.
Western Digital Profile
Western Digital Corporation, together with its subsidiaries, develops, manufactures, and sells data storage devices and solutions worldwide. It offers performance hard disk drives (HDDs) that are used in enterprise servers, data analysis, and other enterprise applications; capacity HDDs and drive configurations for use in data storage systems and tiered storage models; and enterprise solid state drives (SSDs), including NAND-flash SSDs and software solutions that are designed to enhance the performance in various enterprise workload environments.
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