Western Digital Corp. (NASDAQ:WDC) insider Michael D. Cordano sold 889 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $56.41, for a total value of $50,148.49. Following the completion of the sale, the insider now owns 55,772 shares of the company’s stock, valued at $3,146,098.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shares of Western Digital Corp. (NASDAQ:WDC) opened at 57.48 on Thursday. Western Digital Corp. has a 52-week low of $34.99 and a 52-week high of $64.80. The stock’s 50 day moving average is $56.62 and its 200-day moving average is $49.01. The firm’s market capitalization is $16.38 billion.

Western Digital Corp. (NASDAQ:WDC) last released its quarterly earnings data on Wednesday, October 26th. The data storage provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.13. The firm had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.51 billion. Western Digital Corp. had a negative net margin of 2.73% and a positive return on equity of 11.74%. Western Digital Corp.’s quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.56 earnings per share. On average, equities analysts forecast that Western Digital Corp. will post $6.62 earnings per share for the current fiscal year.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Friday, December 30th will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, December 28th. This represents a $2.00 annualized dividend and a yield of 3.48%. Western Digital Corp.’s dividend payout ratio (DPR) is -162.60%.

Large investors have recently added to or reduced their stakes in the company. American International Group Inc. boosted its position in 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 valued at $454,641,000 after buying an additional 9,503,034 shares during the period. Vanguard Group Inc. boosted its position in 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 valued at $1,174,834,000 after buying an additional 4,925,997 shares during the period. Neuberger Berman Group LLC boosted its position in 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 valued at $160,379,000 after buying an additional 1,722,928 shares during the period. DNB Asset Management AS boosted its position in 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 valued at $111,428,000 after buying an additional 1,480,995 shares during the period. Finally, Appaloosa LP purchased a new position in Western Digital Corp. during the second quarter valued at approximately $68,527,000. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Several brokerages recently weighed in on WDC. BTIG Research increased their price objective on Western Digital Corp. from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, September 7th. Cowen and Company increased their price objective on Western Digital Corp. from $55.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 7th. BMO Capital Markets reiterated a “market perform” rating and issued a $50.00 price objective on shares of Western Digital Corp. in a research report on Monday, August 1st. FBR & Co increased their price objective on Western Digital Corp. from $50.00 to $55.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 7th. Finally, Jefferies Group increased their price objective on Western Digital Corp. from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, October 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $67.70.

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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