Teachers Advisors LLC lessened its holdings in Western Digital (NASDAQ:WDC) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 941,798 shares of the data storage provider’s stock after selling 66,895 shares during the quarter. Teachers Advisors LLC owned 0.32% of Western Digital worth $74,901,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the business. Iridian Asset Management LLC CT lifted its stake in shares of Western Digital by 1.2% in the 4th quarter. Iridian Asset Management LLC CT now owns 5,989,267 shares of the data storage provider’s stock valued at $476,326,000 after acquiring an additional 68,610 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Western Digital by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 3,919,230 shares of the data storage provider’s stock valued at $311,171,000 after acquiring an additional 171,959 shares during the last quarter. Lyrical Asset Management LP lifted its stake in shares of Western Digital by 3.2% in the 4th quarter. Lyrical Asset Management LP now owns 3,307,454 shares of the data storage provider’s stock valued at $263,042,000 after acquiring an additional 103,165 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Western Digital by 22.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,281,695 shares of the data storage provider’s stock valued at $283,538,000 after acquiring an additional 598,563 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Western Digital by 2.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,086,925 shares of the data storage provider’s stock valued at $266,720,000 after acquiring an additional 83,030 shares during the last quarter. 84.71% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on the company. BidaskClub upgraded Western Digital from a “sell” rating to a “hold” rating in a research note on Wednesday, December 13th. Benchmark reiterated a “buy” rating and issued a $130.00 price target on shares of Western Digital in a research note on Tuesday, December 26th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Western Digital in a research report on Friday, December 22nd. Barclays raised their target price on Western Digital from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 27th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $105.00 target price on shares of Western Digital in a research report on Thursday, February 22nd. Ten 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’s stock. The company has a consensus rating of “Buy” and a consensus price target of $111.52.
Shares of WDC traded down $2.76 during trading hours on Friday, hitting $87.77. The stock had a trading volume of 3,686,136 shares, compared to its average volume of 3,826,908. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.55 and a quick ratio of 2.03. The company has a market cap of $26,938.13, a PE ratio of 11.11, a P/E/G ratio of 0.37 and a beta of 1.03. Western Digital has a 1-year low of $76.59 and a 1-year high of $106.96.
Western Digital (NASDAQ:WDC) last issued its earnings results on Thursday, January 25th. The data storage provider reported $3.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.51 by $0.44. The company had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.31 billion. Western Digital had a return on equity of 30.78% and a net margin of 1.93%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the business posted $2.30 EPS. analysts expect that Western Digital will post 12.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Friday, March 30th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $2.00 annualized dividend and a dividend yield of 2.28%. Western Digital’s dividend payout ratio is presently 25.32%.
In other Western Digital news, CEO Stephen D. Milligan sold 90,755 shares of Western Digital stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $88.12, for a total transaction of $7,997,330.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Charles Ray sold 35,009 shares of Western Digital stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $86.73, for a total value of $3,036,330.57. Following the transaction, the executive vice president now owns 70,164 shares of the company’s stock, valued at approximately $6,085,323.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 259,704 shares of company stock valued at $23,780,295. 0.31% of the stock is currently owned by company insiders.
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Western Digital 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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