Western Digital Corporation $WDC Shares Purchased by US Bancorp DE

US Bancorp DE lifted its position in Western Digital Corporation (NASDAQ:WDC) by 4.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,177 shares of the data storage provider’s stock after acquiring an additional 2,988 shares during the period. US Bancorp DE’s holdings in Western Digital were worth $4,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Zions Bancorporation National Association UT acquired a new position in shares of Western Digital in the 1st quarter valued at $29,000. Allworth Financial LP increased its position in shares of Western Digital by 34.1% in the 1st quarter. Allworth Financial LP now owns 955 shares of the data storage provider’s stock valued at $38,000 after acquiring an additional 243 shares during the period. MorganRosel Wealth Management LLC acquired a new position in shares of Western Digital in the 1st quarter valued at $40,000. Whittier Trust Co. of Nevada Inc. grew its position in Western Digital by 242.2% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,208 shares of the data storage provider’s stock worth $49,000 after purchasing an additional 855 shares during the period. Finally, Brooklyn Investment Group grew its position in Western Digital by 91.2% during the 1st quarter. Brooklyn Investment Group now owns 1,279 shares of the data storage provider’s stock worth $52,000 after purchasing an additional 610 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.

Western Digital Trading Up 3.0%

Shares of Western Digital stock opened at $118.86 on Tuesday. The firm has a market capitalization of $40.75 billion, a PE ratio of 23.08, a P/E/G ratio of 0.97 and a beta of 1.77. Western Digital Corporation has a twelve month low of $28.83 and a twelve month high of $137.40. The firm’s 50-day moving average price is $95.62 and its 200 day moving average price is $67.80. The company has a current ratio of 1.08, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Monday, April 7th. The data storage provider reported $1.78 earnings per share for the quarter. The firm had revenue of $4.10 billion for the quarter. Western Digital had a net margin of 14.13% and a return on equity of 24.93%. On average, sell-side analysts predict that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Western Digital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. Western Digital’s dividend payout ratio (DPR) is currently 7.77%.

Insider Activity at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 3,160 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $75.68, for a total value of $239,148.80. Following the transaction, the senior vice president directly owned 31,560 shares of the company’s stock, valued at $2,388,460.80. This trade represents a 9.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cynthia L. Tregillis sold 14,067 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $74.78, for a total transaction of $1,051,930.26. Following the completion of the transaction, the insider directly owned 135,351 shares in the company, valued at $10,121,547.78. This trade represents a 9.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,730 shares of company stock valued at $3,921,594. 0.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on WDC shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Western Digital in a research report on Wednesday, October 8th. TD Cowen increased their price target on Western Digital from $58.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Wells Fargo & Company increased their price target on Western Digital from $95.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday. Wedbush increased their price target on Western Digital from $78.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Finally, Susquehanna increased their price target on Western Digital from $40.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Seventeen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $98.84.

Western Digital Company Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.