Western Digital Corp. (NASDAQ:WDC) Director Matthew E. Massengill sold 2,187 shares of the firm’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $57.31, for a total transaction of $125,336.97. Following the completion of the sale, the director now owns 15,579 shares of the company’s stock, valued at approximately $892,832.49. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Shares of Western Digital Corp. (NASDAQ:WDC) opened at 56.84 on Friday. The company has a 50-day moving average of $56.64 and a 200 day moving average of $49.07. Western Digital Corp. has a 52-week low of $34.99 and a 52-week high of $64.80. The firm’s market cap is $16.20 billion.

Western Digital Corp. (NASDAQ:WDC) last released its earnings results on Wednesday, October 26th. The data storage provider reported $1.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.13. The company earned $4.71 billion during the quarter, compared to the consensus estimate of $4.51 billion. Western Digital Corp. had a positive return on equity of 11.74% and a negative net margin of 2.73%. Western Digital Corp.’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.56 EPS. On average, equities analysts expect that Western Digital Corp. will post $6.62 earnings per share for the current 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 Tuesday, January 17th. Shareholders of record on Friday, December 30th will be given a $0.50 dividend. The ex-dividend date is Wednesday, December 28th. This represents a $2.00 annualized dividend and a yield of 3.52%. Western Digital Corp.’s payout ratio is currently -162.60%.

A number of hedge funds have recently made changes to their positions in the stock. Pictet Asset Management Ltd. increased its stake in shares of Western Digital Corp. by 2.4% in the first quarter. Pictet Asset Management Ltd. now owns 125,839 shares of the data storage provider’s stock valued at $5,478,000 after buying an additional 3,000 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Western Digital Corp. by 11.2% in the first quarter. Geode Capital Management LLC now owns 2,430,391 shares of the data storage provider’s stock valued at $114,629,000 after buying an additional 244,462 shares during the last quarter. Prudential PLC increased its stake in shares of Western Digital Corp. by 32.8% in the first quarter. Prudential PLC now owns 116,460 shares of the data storage provider’s stock valued at $5,502,000 after buying an additional 28,779 shares during the last quarter. Hancock Holding Co. bought a new stake in shares of Western Digital Corp. during the first quarter valued at $2,149,000. Finally, Kennedy Capital Management Inc. increased its stake in shares of Western Digital Corp. by 141.9% in the first quarter. Kennedy Capital Management Inc. now owns 120,553 shares of the data storage provider’s stock valued at $5,695,000 after buying an additional 70,724 shares during the last quarter. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Several equities research analysts have recently commented on the stock. Longbow Research upgraded shares of Western Digital Corp. from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Tuesday, September 13th. Susquehanna restated a “buy” rating and set a $80.00 price objective on shares of Western Digital Corp. in a report on Friday, October 7th. Vetr cut shares of Western Digital Corp. from a “strong-buy” rating to a “buy” rating and set a $51.50 price objective for the company. in a report on Monday, August 29th. Zacks Investment Research upgraded shares of Western Digital Corp. from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Wednesday, October 19th. Finally, Maxim Group boosted their price objective on shares of Western Digital Corp. from $85.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, October 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. Western Digital Corp. presently has a consensus rating of “Buy” and an average 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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