Schroder Investment Management Group increased its stake in Western Digital Corp (NASDAQ:WDC) by 19.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,328,566 shares of the data storage provider’s stock after buying an additional 217,932 shares during the period. Schroder Investment Management Group owned about 0.46% of Western Digital worth $77,774,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. Trexquant Investment LP boosted its holdings in shares of Western Digital by 18.1% during the second quarter. Trexquant Investment LP now owns 23,284 shares of the data storage provider’s stock valued at $1,802,000 after acquiring an additional 3,572 shares during the period. Cambridge Financial Group Inc. boosted its holdings in shares of Western Digital by 7.1% during the second quarter. Cambridge Financial Group Inc. now owns 76,929 shares of the data storage provider’s stock valued at $5,955,000 after acquiring an additional 5,069 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of Western Digital by 17.8% during the second quarter. Oppenheimer & Co. Inc. now owns 23,338 shares of the data storage provider’s stock valued at $1,806,000 after acquiring an additional 3,529 shares during the period. Pinebridge Investments L.P. boosted its holdings in shares of Western Digital by 4.7% during the second quarter. Pinebridge Investments L.P. now owns 160,056 shares of the data storage provider’s stock valued at $12,390,000 after acquiring an additional 7,217 shares during the period. Finally, ING Groep NV boosted its holdings in shares of Western Digital by 343.5% during the third quarter. ING Groep NV now owns 92,390 shares of the data storage provider’s stock valued at $5,409,000 after acquiring an additional 71,556 shares during the period. Institutional investors and hedge funds own 86.20% of the company’s stock.
In other Western Digital news, Director Matthew E. Massengill sold 1,681 shares of the company’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $47.68, for a total value of $80,150.08. Following the completion of the sale, the director now directly owns 17,848 shares of the company’s stock, valued at approximately $850,992.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.36% of the stock is currently owned by corporate insiders.
WDC stock opened at $47.34 on Monday. The stock has a market capitalization of $13.70 billion, a P/E ratio of 3.50, a P/E/G ratio of 0.40 and a beta of 1.17. Western Digital Corp has a fifty-two week low of $40.58 and a fifty-two week high of $106.96. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.41 and a quick ratio of 1.70.
Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, October 25th. The data storage provider reported $2.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.70 by $0.08. Western Digital had a net margin of 2.46% and a return on equity of 35.37%. The company had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $5.14 billion. On average, analysts anticipate that Western Digital Corp will post 6.19 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 14th. Shareholders of record on Friday, December 28th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date is Thursday, December 27th. Western Digital’s payout ratio is 14.80%.
Several equities analysts have recently issued reports on the stock. Susquehanna Bancshares reissued a “neutral” rating and set a $44.00 price target (down previously from $120.00) on shares of Western Digital in a report on Tuesday, November 20th. UBS Group downgraded shares of Western Digital from a “positive” rating to a “neutral” rating in a report on Tuesday, November 20th. Zacks Investment Research reissued a “strong sell” rating on shares of Western Digital in a report on Saturday, November 17th. Robert W. Baird reissued a “buy” rating and set a $55.00 price target on shares of Western Digital in a report on Friday, November 9th. Finally, BidaskClub raised shares of Western Digital from a “strong sell” rating to a “sell” rating in a report on Saturday, November 3rd. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Western Digital presently has an average rating of “Hold” and an average target price of $82.50.
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Western Digital Company Profile
Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.
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