Signaturefd LLC purchased a new position in shares of Western Digital (NASDAQ:WDC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,929 shares of the data storage provider’s stock, valued at approximately $178,000.
Other large investors have also modified their holdings of the company. Buckingham Capital Management Inc. grew its position in shares of Western Digital by 53.6% during the third quarter. Buckingham Capital Management Inc. now owns 30,419 shares of the data storage provider’s stock worth $2,628,000 after buying an additional 10,618 shares in the last quarter. Atria Investments LLC grew its position in shares of Western Digital by 9.5% during the fourth quarter. Atria Investments LLC now owns 9,432 shares of the data storage provider’s stock worth $750,000 after buying an additional 822 shares in the last quarter. National Pension Service grew its position in shares of Western Digital by 6.0% during the fourth quarter. National Pension Service now owns 314,256 shares of the data storage provider’s stock worth $24,993,000 after buying an additional 17,658 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Western Digital by 25.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,494,192 shares of the data storage provider’s stock worth $118,824,000 after buying an additional 307,838 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Western Digital during the fourth quarter worth about $132,000. Institutional investors own 85.69% of the company’s stock.
A number of equities analysts have recently commented on the company. TheStreet downgraded Western Digital from a “b” rating to a “c+” rating in a research report on Thursday, January 25th. UBS boosted their price objective on Western Digital from $88.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Maxim Group boosted their price objective on Western Digital from $124.00 to $126.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Guggenheim reissued a “buy” rating and set a $125.00 price objective on shares of Western Digital in a research report on Thursday, February 1st. Finally, Stifel Nicolaus reissued a “buy” rating on shares of Western Digital in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Western Digital presently has a consensus rating of “Buy” and an average target price of $111.40.
In other news, CEO Stephen D. Milligan sold 53,264 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $100.12, for a total value of $5,332,791.68. Following the completion of the sale, the chief executive officer now directly owns 68,114 shares of the company’s stock, valued at $6,819,573.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Charles Ray sold 1,208 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $88.53, for a total value of $106,944.24. Following the completion of the sale, the executive vice president now directly owns 40,144 shares of the company’s stock, valued at $3,553,948.32. The disclosure for this sale can be found here. Insiders sold 141,014 shares of company stock valued at $13,277,976 over the last three months. Corporate insiders own 0.31% of the company’s stock.
Shares of Western Digital opened at $84.75 on Friday, according to Marketbeat. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.39 and a quick ratio of 1.76. The company has a market capitalization of $25.89 billion, a P/E ratio of 6.71, a price-to-earnings-growth ratio of 0.34 and a beta of 1.04. Western Digital has a 52-week low of $75.96 and a 52-week high of $106.96.
Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, April 26th. The data storage provider reported $3.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.31 by $0.32. The firm had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.93 billion. Western Digital had a return on equity of 34.22% and a net margin of 0.98%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.39 earnings per share. sell-side analysts predict that Western Digital will post 13.4 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Friday, June 29th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Thursday, June 28th. Western Digital’s payout ratio is currently 25.32%.
About Western Digital
Western Digital Corporation, together with its subsidiaries, develops, manufactures, and sells data storage devices and solutions worldwide. It offers performance hard disk drives (HDDs) that are used in enterprise servers, data analysis, and other enterprise applications; capacity HDDs and drive configurations for use in data storage systems and tiered storage models; and enterprise solid state drives (SSDs), including NAND-flash SSDs and software solutions that are designed to enhance the performance in various enterprise workload environments.
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