Western Digital Corp. (WDC) EVP Sells $370,980.00 in Stock
Western Digital Corp. (NASDAQ:WDC) EVP Michael Charles Ray sold 6,183 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $60.00, for a total value of $370,980.00. Following the completion of the sale, the executive vice president now directly owns 42,941 shares in the company, valued at $2,576,460. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Michael Charles Ray also recently made the following trade(s):
- On Tuesday, September 27th, Michael Charles Ray sold 2,719 shares of Western Digital Corp. stock. The shares were sold at an average price of $58.63, for a total value of $159,414.97.
Shares of Western Digital Corp. (NASDAQ:WDC) opened at 58.69 on Wednesday. The stock has a 50 day moving average price of $51.56 and a 200-day moving average price of $46.98. Western Digital Corp. has a 52 week low of $34.99 and a 52 week high of $86.39. The firm has a market capitalization of $16.68 billion, a PE ratio of 58.69 and a beta of 1.27.
Western Digital Corp. (NASDAQ:WDC) last released its quarterly earnings results on Thursday, July 28th. The data storage provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.08. The business had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.44 billion. Western Digital Corp. had a return on equity of 12.42% and a net margin of 1.98%. The company’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.51 EPS. Equities analysts anticipate that Western Digital Corp. will post $4.57 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date is Wednesday, September 28th. Western Digital Corp.’s dividend payout ratio (DPR) is presently 158.73%.
Several brokerages have commented on WDC. BMO Capital Markets reissued a “market perform” rating on shares of Western Digital Corp. in a report on Wednesday, June 22nd. Susquehanna reissued a “positive” rating and issued a $80.00 price objective on shares of Western Digital Corp. in a report on Saturday, August 13th. Mizuho reissued a “buy” rating and issued a $60.00 price objective on shares of Western Digital Corp. in a report on Friday, September 23rd. Needham & Company LLC reissued a “strong-buy” rating and issued a $67.00 price objective on shares of Western Digital Corp. in a report on Friday, July 29th. Finally, JPMorgan Chase & Co. began coverage on Western Digital Corp. in a report on Wednesday, June 15th. They issued a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $64.32.
A number of large investors have recently made changes to their positions in WDC. American International Group Inc. boosted its stake in shares of Western Digital Corp. by 8,124.5% in the second quarter. American International Group Inc. now owns 9,620,001 shares of the data storage provider’s stock worth $454,641,000 after buying an additional 9,503,034 shares during the period. Vanguard Group Inc. boosted its stake in shares of Western Digital Corp. by 24.7% in the second quarter. Vanguard Group Inc. now owns 24,858,936 shares of the data storage provider’s stock worth $1,174,834,000 after buying an additional 4,925,997 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of Western Digital Corp. by 103.1% in the second quarter. Neuberger Berman Group LLC now owns 3,393,531 shares of the data storage provider’s stock worth $160,379,000 after buying an additional 1,722,928 shares during the period. DNB Asset Management AS boosted its stake in shares of Western Digital Corp. by 168.9% in the second quarter. DNB Asset Management AS now owns 2,357,775 shares of the data storage provider’s stock worth $111,428,000 after buying an additional 1,480,995 shares during the period. Finally, Appaloosa LP bought a new stake in shares of Western Digital Corp. during the second quarter worth approximately $68,527,000. Hedge funds and other institutional investors own 86.77% of the company’s stock.
About Western Digital Corp.
Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage solutions that enable consumers, businesses, governments and other organizations to create, manage, experience and preserve digital content. The Company’s product portfolio includes hard disk drives (HDDs), solid-state drives, direct attached storage solutions, personal cloud network attached storage solutions, and public and private cloud data center storage solutions.
Receive News & Stock Ratings for Western Digital Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Digital Corp. and related stocks with our FREE daily email newsletter.