S&T Bank PA Sells 5,144 Shares of Western Digital Corporation $WDC

S&T Bank PA decreased its position in shares of Western Digital Corporation (NASDAQ:WDC) by 5.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,863 shares of the data storage provider’s stock after selling 5,144 shares during the period. Western Digital makes up 1.9% of S&T Bank PA’s holdings, making the stock its 17th biggest position. S&T Bank PA’s holdings in Western Digital were worth $6,262,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Savant Capital LLC increased its holdings in shares of Western Digital by 410.7% during the second quarter. Savant Capital LLC now owns 55,128 shares of the data storage provider’s stock worth $3,528,000 after purchasing an additional 44,334 shares during the period. Achmea Investment Management B.V. acquired a new stake in Western Digital during the second quarter worth approximately $4,143,000. Golden State Wealth Management LLC raised its holdings in Western Digital by 45,150.0% in the 2nd quarter. Golden State Wealth Management LLC now owns 10,860 shares of the data storage provider’s stock valued at $695,000 after acquiring an additional 10,836 shares in the last quarter. SouthState Corp raised its holdings in Western Digital by 422.9% in the 2nd quarter. SouthState Corp now owns 617 shares of the data storage provider’s stock valued at $39,000 after acquiring an additional 499 shares in the last quarter. Finally, Andra AP fonden bought a new stake in shares of Western Digital during the 2nd quarter valued at $7,461,000. Institutional investors own 92.51% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Rosenblatt Securities raised their target price on shares of Western Digital from $125.00 to $165.00 and gave the company a “buy” rating in a report on Friday, October 31st. Wedbush increased their price target on shares of Western Digital from $90.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Robert W. Baird set a $180.00 target price on Western Digital in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Western Digital in a report on Wednesday, October 8th. Finally, Susquehanna reissued a “neutral” rating and set a $135.00 price target on shares of Western Digital in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $155.47.

Insider Activity

In other Western Digital news, insider Cynthia L. Tregillis sold 14,067 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $74.78, for a total transaction of $1,051,930.26. Following the sale, the insider owned 135,351 shares of the company’s stock, valued at approximately $10,121,547.78. This represents a 9.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Gene M. Zamiska sold 353 shares of Western Digital stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $80.90, for a total value of $28,557.70. Following the completion of the transaction, the senior vice president directly owned 27,425 shares of the company’s stock, valued at approximately $2,218,682.50. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 69,730 shares of company stock valued at $6,935,394. Company insiders own 0.18% of the company’s stock.

Western Digital Price Performance

WDC stock opened at $163.60 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.08. Western Digital Corporation has a 52-week low of $28.83 and a 52-week high of $167.50. The company has a market capitalization of $55.93 billion, a P/E ratio of 31.77, a PEG ratio of 1.14 and a beta of 1.81. The company has a fifty day moving average price of $116.44 and a 200-day moving average price of $79.94.

Western Digital (NASDAQ:WDC) last announced its earnings results on Monday, April 7th. The data storage provider reported $1.78 earnings per share (EPS) for the quarter. The business had revenue of $4.10 billion during the quarter. Western Digital had a return on equity of 24.93% and a net margin of 14.13%. As a group, equities analysts expect that Western Digital Corporation will post 4.89 EPS for the current year.

Western Digital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.3%. The ex-dividend date is Thursday, December 4th. This is a positive change from Western Digital’s previous quarterly dividend of $0.10. Western Digital’s dividend payout ratio (DPR) is 7.28%.

Western Digital 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.