OZ Management LP Acquires Shares of 11,300 Western Digital Corp (WDC)

OZ Management LP acquired a new position in Western Digital Corp (NASDAQ:WDC) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,300 shares of the data storage provider’s stock, valued at approximately $1,043,000.

Several other large investors have also added to or reduced their stakes in the company. Amerigo Asset Management purchased a new stake in Western Digital during the first quarter worth $238,104,000. Two Sigma Investments LP boosted its holdings in Western Digital by 23,509.1% during the fourth quarter. Two Sigma Investments LP now owns 1,582,516 shares of the data storage provider’s stock worth $125,857,000 after buying an additional 1,575,813 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in Western Digital by 1,864.6% during the fourth quarter. Two Sigma Advisers LP now owns 1,186,316 shares of the data storage provider’s stock worth $94,348,000 after buying an additional 1,125,930 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Western Digital by 67.1% during the fourth quarter. Renaissance Technologies LLC now owns 2,431,182 shares of the data storage provider’s stock worth $193,352,000 after buying an additional 976,433 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Western Digital by 94.3% during the fourth quarter. Millennium Management LLC now owns 1,761,443 shares of the data storage provider’s stock worth $140,088,000 after buying an additional 854,852 shares in the last quarter. Hedge funds and other institutional investors own 84.53% of the company’s stock.

In related news, CEO Stephen D. Milligan sold 53,264 shares of the firm’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $100.12, for a total transaction of $5,332,791.68. Following the completion of the sale, the chief executive officer now directly owns 68,114 shares in the company, valued at $6,819,573.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Srinivasan Sivaram sold 63,879 shares of the firm’s stock in a transaction dated Tuesday, May 29th. The stock was sold at an average price of $86.36, for a total transaction of $5,516,590.44. Following the sale, the executive vice president now owns 110,910 shares of the company’s stock, valued at $9,578,187.60. The disclosure for this sale can be found here. Insiders sold 174,161 shares of company stock valued at $15,952,740 over the last quarter. Company insiders own 0.31% of the company’s stock.

A number of brokerages recently issued reports on WDC. Cowen increased their price target on shares of Western Digital from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday. Stifel Nicolaus reissued a “buy” rating on shares of Western Digital in a report on Tuesday, May 15th. Zacks Investment Research raised shares of Western Digital from a “hold” rating to a “strong-buy” rating and set a $108.00 price target on the stock in a report on Friday, March 30th. ValuEngine downgraded shares of Western Digital from a “strong-buy” rating to a “buy” rating in a report on Friday, March 23rd. Finally, Guggenheim set a $125.00 price objective on shares of Western Digital and gave the company a “buy” rating in a report on Friday, April 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $111.22.

Shares of Western Digital opened at $84.72 on Thursday, according to MarketBeat. The stock has a market capitalization of $25.70 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 0.34 and a beta of 1.02. The company has a quick ratio of 1.76, a current ratio of 2.39 and a debt-to-equity ratio of 0.98. Western Digital Corp has a 52 week low of $75.96 and a 52 week high of $106.96.

Western Digital (NASDAQ:WDC) last issued its earnings results on Thursday, April 26th. The data storage provider reported $3.63 EPS for the quarter, beating the Zacks’ consensus estimate of $3.31 by $0.32. The business had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $4.93 billion. Western Digital had a net margin of 0.98% and a return on equity of 34.22%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.39 earnings per share. equities research analysts predict that Western Digital Corp will post 13.4 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Friday, June 29th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Thursday, June 28th. Western Digital’s dividend payout ratio (DPR) is 25.32%.

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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Institutional Ownership by Quarter for Western Digital (NASDAQ:WDC)

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