Western Digital Corp. (NASDAQ:WDC) EVP Michael Charles Ray sold 5,589 shares of the business’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $63.11, for a total transaction of $352,721.79. Following the sale, the executive vice president now owns 46,994 shares of the company’s stock, valued at $2,965,791.34. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Michael Charles Ray also recently made the following trade(s):

  • On Monday, November 14th, Michael Charles Ray sold 1,000 shares of Western Digital Corp. stock. The shares were sold at an average price of $60.00, for a total transaction of $60,000.00.
  • On Monday, October 3rd, Michael Charles Ray sold 6,183 shares of Western Digital Corp. stock. The shares were sold at an average price of $60.00, for a total transaction of $370,980.00.
  • On Tuesday, September 27th, Michael Charles Ray sold 2,719 shares of Western Digital Corp. stock. The shares were sold at an average price of $58.63, for a total transaction of $159,414.97.

Shares of Western Digital Corp. (NASDAQ:WDC) opened at 62.67 on Wednesday. The firm’s market capitalization is $17.89 billion. The stock’s 50 day moving average is $57.36 and its 200 day moving average is $50.86. 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 announced its earnings results 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. Western Digital Corp. had a negative net margin of 2.73% and a positive return on equity of 11.74%. The firm had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.51 billion. During the same period in the prior year, the firm earned $1.56 EPS. The firm’s revenue for the quarter was up 40.3% on a year-over-year basis. Equities analysts predict 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 firm also recently announced 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. This represents a $2.00 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Wednesday, December 28th. Western Digital Corp.’s payout ratio is currently -162.60%.

TRADEMARK VIOLATION WARNING: This piece was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another website, it was illegally copied and reposted in violation of US & international copyright law. The original version of this piece can be read at https://www.thecerbatgem.com/2016/11/30/western-digital-corp-wdc-evp-michael-charles-ray-sells-5589-shares.html.

A number of large investors have recently made changes to their positions in the company. Piedmont Investment Advisors LLC acquired a new stake in shares of Western Digital Corp. during the third quarter valued at $13,934,000. Scout Investments Inc. increased its stake in shares of Western Digital Corp. by 27.5% in the third quarter. Scout Investments Inc. now owns 395,199 shares of the data storage provider’s stock valued at $23,107,000 after buying an additional 85,215 shares during the last quarter. Altfest L J & Co. Inc. increased its stake in shares of Western Digital Corp. by 0.8% in the third quarter. Altfest L J & Co. Inc. now owns 5,486 shares of the data storage provider’s stock valued at $321,000 after buying an additional 42 shares during the last quarter. LPL Financial LLC increased its stake in shares of Western Digital Corp. by 19.9% in the third quarter. LPL Financial LLC now owns 35,250 shares of the data storage provider’s stock valued at $2,069,000 after buying an additional 5,842 shares during the last quarter. Finally, Credit Suisse AG increased its stake in shares of Western Digital Corp. by 15.5% in the third quarter. Credit Suisse AG now owns 853,977 shares of the data storage provider’s stock valued at $49,932,000 after buying an additional 114,717 shares during the last quarter. 86.44% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently commented on the company. RBC Capital Markets restated an “outperform” rating and issued a $72.00 price objective on shares of Western Digital Corp. in a research note on Tuesday. BTIG Research increased their price target on Western Digital Corp. from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, September 7th. Cowen and Company increased their price target on Western Digital Corp. from $55.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 7th. FBR & Co increased their price target on Western Digital Corp. from $50.00 to $55.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 7th. Finally, Jefferies Group increased their price target on Western Digital Corp. from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, October 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $68.25.

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.