Teachers Advisors LLC decreased its position in Western Digital Corp (NASDAQ:WDC) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 941,798 shares of the data storage provider’s stock after selling 66,895 shares during the period. Teachers Advisors LLC owned 0.32% of Western Digital worth $74,901,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Two Sigma Investments LP boosted its holdings in Western Digital by 23,509.1% during the fourth quarter. Two Sigma Investments LP now owns 1,582,516 shares of the data storage provider’s stock worth $125,857,000 after buying an additional 1,575,813 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in Western Digital by 1,864.6% during the fourth quarter. Two Sigma Advisers LP now owns 1,186,316 shares of the data storage provider’s stock worth $94,348,000 after buying an additional 1,125,930 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Western Digital by 67.1% during the fourth quarter. Renaissance Technologies LLC now owns 2,431,182 shares of the data storage provider’s stock worth $193,352,000 after buying an additional 976,433 shares during the last quarter. Bank of Montreal Can boosted its holdings in Western Digital by 267.4% during the fourth quarter. Bank of Montreal Can now owns 1,232,616 shares of the data storage provider’s stock worth $98,029,000 after buying an additional 897,108 shares during the last quarter. Finally, Kensico Capital Management Corp boosted its holdings in Western Digital by 228.2% during the third quarter. Kensico Capital Management Corp now owns 1,094,508 shares of the data storage provider’s stock worth $94,565,000 after buying an additional 761,000 shares during the last quarter. Institutional investors and hedge funds own 84.97% of the company’s stock.
A number of brokerages have issued reports on WDC. Robert W. Baird upgraded Western Digital from a “neutral” rating to an “outperform” rating in a report on Friday. TheStreet cut Western Digital from a “b” rating to a “c+” rating in a report on Thursday, January 25th. BidaskClub upgraded Western Digital from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 10th. Royal Bank of Canada restated a “buy” rating on shares of Western Digital in a report on Friday, December 22nd. Finally, UBS Group began coverage on Western Digital in a report on Tuesday, March 6th. They set a “hold” rating and a $90.00 target price on the stock. Eleven analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and three have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $111.62.
In other Western Digital news, EVP Michael Charles Ray sold 10,767 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $104.39, for a total transaction of $1,123,967.13. Following the transaction, the executive vice president now owns 95,426 shares of the company’s stock, valued at approximately $9,961,520.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael D. Cordano sold 1,401 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $85.00, for a total value of $119,085.00. Following the transaction, the insider now directly owns 70,560 shares in the company, valued at approximately $5,997,600. The disclosure for this sale can be found here. In the last three months, insiders sold 261,105 shares of company stock worth $23,899,380. 0.31% of the stock is owned by insiders.
Shares of Western Digital Corp (NASDAQ:WDC) opened at $102.23 on Friday. Western Digital Corp has a 1 year low of $71.38 and a 1 year high of $106.30. The stock has a market capitalization of $30,708.22, a P/E ratio of 84.49, a P/E/G ratio of 0.43 and a beta of 1.11. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.55 and a quick ratio of 2.03.
Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, January 25th. The data storage provider reported $3.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.51 by $0.44. Western Digital had a return on equity of 30.78% and a net margin of 1.93%. The business had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same quarter last year, the firm earned $2.30 EPS. Western Digital’s revenue for the quarter was up 9.2% compared to the same quarter last year. equities analysts expect that Western Digital Corp will post 12.66 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, March 29th. Western Digital’s dividend payout ratio is presently 165.29%.
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Western Digital 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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