Amerigo Asset Management purchased a new position in shares of Western Digital Corp. (NASDAQ:WDC) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 700,461 shares of the data storage provider’s stock, valued at approximately $40,956,000. Western Digital Corp. makes up about 4.9% of Amerigo Asset Management’s investment portfolio, making the stock its 6th largest position. Amerigo Asset Management owned about 0.25% of Western Digital Corp. as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Checchi Capital Advisers LLC boosted its stake in shares of 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 period. Amica Retiree Medical Trust boosted its stake in shares of Western Digital Corp. by 28.9% in the second quarter. Amica Retiree Medical Trust now owns 2,203 shares of the data storage provider’s stock worth $104,000 after buying an additional 494 shares during the period. Cornerstone Advisors Inc. boosted its stake in shares of Western Digital Corp. by 5.7% in the second quarter. Cornerstone Advisors Inc. now owns 2,245 shares of the data storage provider’s stock worth $106,000 after buying an additional 121 shares during the period. Americafirst Capital Management LLC purchased a new stake in shares of Western Digital Corp. during the second quarter worth approximately $108,000. Finally, Sumitomo Life Insurance Co. purchased a new stake in shares of Western Digital Corp. during the second quarter worth approximately $116,000. 86.44% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of Western Digital Corp. (NASDAQ:WDC) traded up 1.66% during trading on Monday, reaching $62.61. 3,139,967 shares of the company were exchanged. The company’s market capitalization is $17.87 billion. The stock’s 50 day moving average is $57.25 and its 200 day moving average is $50.49. Western Digital Corp. has a 1-year low of $34.99 and a 1-year high of $64.73.

Western Digital Corp. (NASDAQ:WDC) last posted its quarterly 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 business earned $4.71 billion during 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%. The company’s revenue was up 40.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.56 earnings per share. Equities analysts anticipate that Western Digital Corp. will post $6.62 earnings per share for the current year.

The company also recently declared 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 of this dividend is Wednesday, December 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.25%. Western Digital Corp.’s payout ratio is currently -162.60%.

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Several brokerages have recently weighed in on WDC. Vetr lowered shares of Western Digital Corp. from a “strong-buy” rating to a “buy” rating and set a $51.50 price objective on the stock. in a report on Monday, August 29th. Stifel Nicolaus reiterated a “buy” rating and set a $75.00 price objective on shares of Western Digital Corp. in a report on Sunday, July 31st. Mizuho dropped their price objective on shares of Western Digital Corp. from $56.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, August 25th. Jefferies Group dropped their price objective on shares of Western Digital Corp. from $62.00 to $54.00 and set a “buy” rating on the stock in a report on Wednesday, August 17th. Finally, Argus reiterated a “buy” rating and set a $60.00 price objective on shares of Western Digital Corp. in a report on Tuesday, August 2nd. One investment 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 given a strong buy rating to the company. Western Digital Corp. has a consensus rating of “Buy” and a consensus price target of $68.03.

In other Western Digital Corp. news, insider Michael D. Cordano sold 18,250 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $59.15, for a total value of $1,079,487.50. Following the completion of the transaction, the insider now directly owns 58,153 shares in the company, valued at $3,439,749.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Michael Charles Ray sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $60.00, for a total transaction of $60,000.00. Following the completion of the transaction, the executive vice president now owns 41,405 shares of the company’s stock, valued at $2,484,300. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by company insiders.

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

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