Western Digital Corp. (NASDAQ:WDC) insider Michael D. Cordano sold 18,250 shares of the firm’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $59.15, for a total transaction of $1,079,487.50. Following the completion of the transaction, the insider now directly owns 58,153 shares in the company, valued at approximately $3,439,749.95. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Shares of Western Digital Corp. (NASDAQ:WDC) opened at 59.24 on Thursday. The stock has a market capitalization of $16.84 billion, a price-to-earnings ratio of 59.24 and a beta of 1.28. Western Digital Corp. has a 1-year low of $34.99 and a 1-year high of $86.39. The company’s 50 day moving average is $51.95 and its 200-day moving average is $47.07.

Western Digital Corp. (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, July 28th. The data storage provider reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.08. The firm earned $3.50 billion during 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 firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.51 EPS. Equities analysts anticipate that Western Digital Corp. will post $4.57 earnings per share for the current fiscal year.

Insider Buying and Selling by Quarter for Western Digital Corp. (NASDAQ:WDC)

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Wednesday, September 28th. Western Digital Corp.’s dividend payout ratio is presently 158.73%.

Hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services Inc raised its stake in shares of Western Digital Corp. by 94.8% in the first quarter. Commonwealth Equity Services Inc now owns 12,860 shares of the data storage provider’s stock worth $607,000 after buying an additional 6,258 shares during the last quarter. Aperio Group LLC raised its stake in shares of Western Digital Corp. by 50.0% in the first quarter. Aperio Group LLC now owns 76,802 shares of the data storage provider’s stock worth $3,628,000 after buying an additional 25,590 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Western Digital Corp. by 5.7% in the first quarter. IFP Advisors Inc now owns 4,281 shares of the data storage provider’s stock worth $202,000 after buying an additional 230 shares during the last quarter. CIBC World Markets Inc. raised its stake in shares of Western Digital Corp. by 7.3% in the first quarter. CIBC World Markets Inc. now owns 31,892 shares of the data storage provider’s stock worth $1,507,000 after buying an additional 2,159 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Western Digital Corp. by 219.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 207,414 shares of the data storage provider’s stock worth $9,798,000 after buying an additional 142,388 shares during the last quarter. Hedge funds and other institutional investors own 86.77% of the company’s stock.

A number of research analysts have commented on WDC shares. Citigroup Inc. reissued a “buy” rating and set a $65.00 target price (up previously from $55.00) on shares of Western Digital Corp. in a research report on Tuesday, July 19th. Vetr cut shares of Western Digital Corp. from a “buy” rating to a “hold” rating and set a $50.42 price target on the stock. in a report on Tuesday, June 21st. Barclays PLC raised their price target on shares of Western Digital Corp. from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, August 16th. Stifel Nicolaus restated a “buy” rating and issued a $75.00 price target on shares of Western Digital Corp. in a report on Sunday, July 31st. Finally, Argus restated a “buy” rating and issued a $60.00 price target on shares of Western Digital Corp. in a report on Saturday, September 10th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $64.32.

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.

5 Day Chart for NASDAQ:WDC

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