Macquarie Group Ltd. raised its position in Western Digital Corp. (NASDAQ:WDC) by 3.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 394,605 shares of the data storage provider’s stock after buying an additional 11,650 shares during the period. Macquarie Group Ltd. owned about 0.14% of Western Digital Corp. worth $18,649,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. MUFG Americas Holdings Corp increased its position in shares of Western Digital Corp. by 0.9% in the second quarter. MUFG Americas Holdings Corp now owns 2,468 shares of the data storage provider’s stock worth $117,000 after buying an additional 21 shares during the period. Texas Yale Capital Corp. increased its position in Western Digital Corp. by 0.9% in the second quarter. Texas Yale Capital Corp. now owns 7,637 shares of the data storage provider’s stock worth $361,000 after buying an additional 69 shares during the last quarter. Boothbay Fund Management LLC increased its position in Western Digital Corp. by 1.2% in the first quarter. Boothbay Fund Management LLC now owns 5,998 shares of the data storage provider’s stock worth $283,000 after buying an additional 72 shares during the last quarter. Charter Trust Co. increased its position in Western Digital Corp. by 2.3% in the second quarter. Charter Trust Co. now owns 4,591 shares of the data storage provider’s stock worth $217,000 after buying an additional 105 shares during the last quarter. Finally, Checchi Capital Advisers LLC increased its position in Western Digital Corp. by 5.1% in the second quarter. Checchi Capital Advisers LLC now owns 2,197 shares of the data storage provider’s stock worth $104,000 after buying an additional 107 shares during the last quarter. 87.20% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Western Digital Corp. (NASDAQ:WDC)

Western Digital Corp. (NASDAQ:WDC) traded up 0.90% during mid-day trading on Friday, reaching $61.59. 1,315,405 shares of the company traded hands. The company’s 50 day moving average price is $57.25 and its 200 day moving average price is $50.49. Western Digital Corp. has a 12-month low of $34.99 and a 12-month high of $64.73. The firm’s market capitalization is $17.58 billion.

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

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, December 28th. This represents a $2.00 annualized dividend and a dividend yield of 3.25%. Western Digital Corp.’s dividend payout ratio (DPR) is -162.60%.

COPYRIGHT VIOLATION WARNING: This piece was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another domain, it was illegally stolen and republished in violation of United States & international copyright and trademark laws. The original version of this piece can be read at https://www.thecerbatgem.com/2016/11/27/macquarie-group-ltd-raises-stake-in-western-digital-corp-wdc.html.

A number of research analysts recently issued reports on WDC shares. Stifel Nicolaus reiterated a “buy” rating and set a $75.00 target price on shares of Western Digital Corp. in a research report on Sunday, July 31st. BMO Capital Markets reiterated a “market perform” rating and set a $50.00 target price on shares of Western Digital Corp. in a research report on Monday, August 1st. Argus reiterated a “buy” rating and set a $60.00 target price on shares of Western Digital Corp. in a research report on Tuesday, August 2nd. Goldman Sachs Group Inc. downgraded shares of Western Digital Corp. from a “neutral” rating to a “sell” rating and dropped their target price for the company from $47.00 to $38.00 in a research report on Wednesday, August 3rd. Finally, Susquehanna reiterated a “positive” rating and set a $80.00 target price on shares of Western Digital Corp. in a research report on Saturday, August 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. Western Digital Corp. presently has an average rating of “Buy” and an average price target of $68.03.

In related news, Director Matthew E. Massengill sold 2,187 shares of the stock in a transaction on Monday, November 7th. The stock was sold at an average price of $57.31, for a total transaction of $125,336.97. Following the sale, the director now owns 15,579 shares in the company, valued at approximately $892,832.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael D. Cordano sold 889 shares of the stock in a transaction 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 sale, the insider now owns 55,772 shares in the company, valued at approximately $3,146,098.52. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.

Western Digital Corp. Company Profile

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

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.