Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Western Digital Corporation (NASDAQ:WDC) by 1.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,637 shares of the data storage provider’s stock after acquiring an additional 268 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Western Digital Corporation were worth $1,917,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. American Beacon Advisors Inc. acquired a new stake in Western Digital Corporation in the 1st quarter valued at about $111,000. Acrospire Investment Management LLC acquired a new stake in Western Digital Corporation in the 1st quarter valued at about $112,000. Harbour Capital Advisors LLC acquired a new stake in Western Digital Corporation in the 1st quarter valued at about $117,000. SRS Capital Advisors Inc. lifted its position in Western Digital Corporation by 26.7% during the first quarter. SRS Capital Advisors Inc. now owns 1,453 shares of the data storage provider’s stock worth $119,000 after acquiring an additional 306 shares during the last quarter. Finally, Ruggie Capital Group acquired a new stake in Western Digital Corporation during the first quarter worth approximately $127,000. Institutional investors own 82.42% of the company’s stock.
WDC has been the subject of several research reports. UBS AG restated an “add” rating on shares of Western Digital Corporation in a research report on Wednesday. Maxim Group restated a “buy” rating and set a $108.00 price objective on shares of Western Digital Corporation in a research report on Wednesday, June 21st. Guggenheim restated a “buy” rating and set a $125.00 price objective on shares of Western Digital Corporation in a research report on Wednesday, June 14th. Aegis initiated coverage on shares of Western Digital Corporation in a research report on Tuesday, June 13th. They set a “buy” rating and a $130.00 price objective for the company. Finally, Vetr cut shares of Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $96.66 target price on the stock. in a report on Tuesday, June 13th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $111.34.
Shares of Western Digital Corporation (NASDAQ WDC) opened at 86.48 on Friday. Western Digital Corporation has a 12 month low of $52.10 and a 12 month high of $95.77. The company has a market capitalization of $25.50 billion, a P/E ratio of 64.54 and a beta of 1.21. The firm has a 50-day moving average of $86.12 and a 200-day moving average of $86.39.
Western Digital Corporation (NASDAQ:WDC) last released its quarterly earnings results on Thursday, July 27th. The data storage provider reported $2.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.51 by $0.42. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.82 billion. Western Digital Corporation had a net margin of 2.08% and a return on equity of 21.23%. The company’s quarterly revenue was up 38.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 earnings per share. On average, equities analysts predict that Western Digital Corporation will post $12.50 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Thursday, September 28th. Western Digital Corporation’s payout ratio is 156.25%.
In related news, insider Mark P. Long sold 28,585 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $94.24, for a total value of $2,693,850.40. Following the transaction, the insider now owns 53,551 shares in the company, valued at approximately $5,046,646.24. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Srinivasan Sivaram sold 16,049 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $85.06, for a total transaction of $1,365,127.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 144,295 shares of company stock valued at $12,689,056. Insiders own 0.46% of the company’s stock.
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Western Digital Corporation Company Profile
Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions).
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