Retireful LLC Makes New Investment in Western Digital Corporation $WDC

Retireful LLC bought a new stake in Western Digital Corporation (NASDAQ:WDC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,577 shares of the data storage provider’s stock, valued at approximately $1,030,000.

Several other institutional investors and hedge funds also recently made changes to their positions in WDC. Ethic Inc. increased its stake in shares of Western Digital by 6.8% in the third quarter. Ethic Inc. now owns 35,027 shares of the data storage provider’s stock worth $4,205,000 after buying an additional 2,239 shares during the last quarter. Institute for Wealth Management LLC. acquired a new position in Western Digital during the 3rd quarter worth $320,000. Perigon Wealth Management LLC increased its position in shares of Western Digital by 18.2% in the 3rd quarter. Perigon Wealth Management LLC now owns 4,938 shares of the data storage provider’s stock worth $593,000 after purchasing an additional 761 shares during the last quarter. Sovereign Financial Group Inc. acquired a new stake in shares of Western Digital in the 3rd quarter valued at about $230,000. Finally, Apollon Wealth Management LLC acquired a new stake in shares of Western Digital in the 3rd quarter valued at about $410,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Western Digital Stock Performance

Shares of NASDAQ WDC opened at $181.54 on Monday. Western Digital Corporation has a 1 year low of $28.83 and a 1 year high of $188.77. The firm has a market cap of $62.07 billion, a P/E ratio of 26.43, a PEG ratio of 1.12 and a beta of 1.82. The stock has a fifty day moving average price of $158.30 and a two-hundred day moving average price of $110.36. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.94 and a current ratio of 1.21.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Monday, April 7th. The data storage provider reported $1.78 earnings per share for the quarter. The business had revenue of $4.10 billion during the quarter. Western Digital had a return on equity of 30.89% and a net margin of 21.37%. Research analysts forecast that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Western Digital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were issued a dividend of $0.125 per share. The ex-dividend date was Thursday, December 4th. This is a positive change from Western Digital’s previous quarterly dividend of $0.10. This represents a $0.50 dividend on an annualized basis and a yield of 0.3%. Western Digital’s payout ratio is 7.28%.

Analyst Upgrades and Downgrades

WDC has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Western Digital from $94.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Cowen reaffirmed a “buy” rating on shares of Western Digital in a report on Friday, October 31st. UBS Group boosted their price target on Western Digital from $135.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, October 31st. China Renaissance initiated coverage on Western Digital in a research report on Friday, December 5th. They set a “buy” rating and a $193.00 price target on the stock. Finally, Sanford C. Bernstein upgraded Western Digital to a “hold” rating in a research note on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.65.

Insider Buying and Selling at Western Digital

In other Western Digital news, insider Cynthia L. Tregillis sold 2,801 shares of Western Digital stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $160.57, for a total value of $449,756.57. Following the transaction, the insider owned 144,596 shares in the company, valued at approximately $23,217,779.72. The trade was a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kimberly Alexy sold 1,768 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $154.00, for a total value of $272,272.00. Following the completion of the sale, the director owned 3,585 shares of the company’s stock, valued at $552,090. The trade was a 33.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 26,369 shares of company stock valued at $4,013,785. 0.18% of the stock is currently owned by corporate insiders.

About Western Digital

Western Digital Corporation is a global data storage company that designs, manufactures and sells a broad range of storage devices and systems for personal, enterprise and cloud applications. Headquartered in San Jose, California, the company develops hard disk drives (HDDs), solid-state drives (SSDs), NAND flash components and finished storage products used in PCs, external storage, servers, network-attached storage (NAS) and embedded systems.

Its product portfolio spans consumer and commercial markets, including internal and external HDDs and SSDs, removable flash memory products and storage platforms for data center and enterprise environments.