NINE MASTS CAPITAL Ltd bought a new position in shares of Western Digital Corp (NASDAQ:WDC) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 3,500 shares of the data storage provider’s stock, valued at approximately $205,000.
Other large investors have also recently modified their holdings of the company. Ruggie Capital Group purchased a new stake in shares of Western Digital during the 2nd quarter worth about $100,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in Western Digital by 16,520.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,662 shares of the data storage provider’s stock worth $129,000 after acquiring an additional 1,652 shares in the last quarter. TRUE Private Wealth Advisors acquired a new position in Western Digital during the 3rd quarter worth approximately $107,000. Captrust Financial Advisors lifted its position in Western Digital by 387.0% during the 3rd quarter. Captrust Financial Advisors now owns 1,836 shares of the data storage provider’s stock worth $108,000 after acquiring an additional 1,459 shares in the last quarter. Finally, NEXT Financial Group Inc acquired a new position in Western Digital during the 3rd quarter worth approximately $109,000. Institutional investors and hedge funds own 83.64% of the company’s stock.
Shares of WDC opened at $42.03 on Friday. Western Digital Corp has a 52-week low of $40.58 and a 52-week high of $106.96. The company has a market capitalization of $12.62 billion, a price-to-earnings ratio of 3.31, a price-to-earnings-growth ratio of 0.37 and a beta of 1.15. The company has a current ratio of 2.41, a quick ratio of 1.70 and a debt-to-equity ratio of 0.96.
Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, October 25th. The data storage provider reported $2.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.70 by $0.08. Western Digital had a return on equity of 35.37% and a net margin of 2.46%. The company had revenue of $5.03 billion for the quarter, compared to analyst estimates of $5.14 billion. Sell-side analysts expect that Western Digital Corp will post 6.19 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 14th. Shareholders of record on Friday, December 28th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date of this dividend is Thursday, December 27th. Western Digital’s payout ratio is 14.80%.
WDC has been the topic of several recent research reports. Loop Capital reduced their price target on Western Digital to $80.00 and set an “average” rating on the stock in a research report on Friday, October 26th. Benchmark reduced their price target on Western Digital from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, September 21st. Guggenheim reissued a “buy” rating and set a $125.00 price target on shares of Western Digital in a research report on Monday, September 17th. Longbow Research set a $100.00 price target on Western Digital and gave the stock a “buy” rating in a research report on Thursday, September 6th. Finally, Citigroup reduced their price target on Western Digital from $106.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, October 29th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirteen have issued a buy rating to the stock. Western Digital currently has a consensus rating of “Hold” and a consensus target price of $79.80.
In other Western Digital news, Director Matthew E. Massengill sold 1,681 shares of the company’s stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $47.68, for a total value of $80,150.08. Following the transaction, 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 SEC, which is accessible through the SEC website. Corporate insiders own 0.36% of the company’s stock.
Western Digital 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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