Krilogy Financial LLC lifted its position in Western Digital Corporation (NASDAQ:WDC) by 76.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,341 shares of the data storage provider’s stock after acquiring an additional 1,876 shares during the period. Krilogy Financial LLC’s holdings in Western Digital were worth $375,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in WDC. Capital World Investors purchased a new position in shares of Western Digital in the second quarter worth approximately $1,019,202,000. Vanguard Group Inc. increased its position in shares of Western Digital by 4.2% in the second quarter. Vanguard Group Inc. now owns 29,942,849 shares of the data storage provider’s stock worth $2,652,936,000 after acquiring an additional 1,201,394 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Western Digital by 140.4% in the second quarter. Janus Henderson Group PLC now owns 1,994,833 shares of the data storage provider’s stock worth $176,746,000 after acquiring an additional 1,164,954 shares in the last quarter. Schroder Investment Management Group increased its position in shares of Western Digital by 24,087.4% in the second quarter. Schroder Investment Management Group now owns 902,431 shares of the data storage provider’s stock worth $82,709,000 after acquiring an additional 898,700 shares in the last quarter. Finally, Discovery Capital Management LLC CT grew its position in Western Digital by 98.9% during the second quarter. Discovery Capital Management LLC CT now owns 1,576,089 shares of the data storage provider’s stock valued at $139,641,000 after purchasing an additional 783,589 shares in the last quarter. 83.78% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Mark P. Long sold 4,467 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $88.13, for a total value of $393,676.71. Following the sale, the chief financial officer now owns 88,384 shares of the company’s stock, valued at approximately $7,789,281.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael D. Cordano sold 1,397 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $88.13, for a total transaction of $123,117.61. Following the completion of the sale, the insider now directly owns 70,556 shares in the company, valued at approximately $6,218,100.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,039 shares of company stock valued at $1,400,999. Corporate insiders own 0.31% of the company’s stock.
Western Digital Corporation (WDC) traded up $81.38 during trading hours on Tuesday, reaching $81.38. 3,891,900 shares of the company traded hands, compared to its average volume of 4,130,000. The firm has a market cap of $24,020.00, a PE ratio of 16.99, a P/E/G ratio of 0.26 and a beta of 1.10. Western Digital Corporation has a 1 year low of $67.61 and a 1 year high of $95.77. The company has a current ratio of 2.64, a quick ratio of 2.13 and a debt-to-equity ratio of 1.07.
Western Digital (NASDAQ:WDC) last released its earnings results on Thursday, October 26th. The data storage provider reported $3.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.01 by $0.55. Western Digital had a net margin of 7.38% and a return on equity of 26.48%. The firm had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.13 billion. During the same period in the prior year, the company earned $1.18 EPS. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. research analysts forecast that Western Digital Corporation will post 12.21 EPS for the current fiscal year.
Western Digital announced that its board has authorized a stock buyback program on Thursday, November 9th that permits the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization permits the data storage provider to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, December 28th. Western Digital’s dividend payout ratio is 41.75%.
WDC has been the topic of a number of research analyst reports. Mizuho reaffirmed a “buy” rating and set a $105.00 price objective on shares of Western Digital in a research report on Tuesday, September 5th. Benchmark reaffirmed a “buy” rating and set a $135.00 price objective on shares of Western Digital in a research report on Thursday, September 7th. Vetr raised shares of Western Digital from a “buy” rating to a “strong-buy” rating and set a $100.00 price objective on the stock in a research report on Tuesday, September 12th. Royal Bank of Canada reaffirmed a “buy” rating and set a $115.00 price objective on shares of Western Digital in a research report on Tuesday, September 12th. Finally, Summit Redstone reaffirmed a “hold” rating on shares of Western Digital in a research report on Wednesday, September 13th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and three have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $113.10.
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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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