Western Digital Corp (WDC) Position Boosted by Creative Planning
Creative Planning increased its stake in Western Digital Corp (NASDAQ:WDC) by 6.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,694 shares of the data storage provider’s stock after buying an additional 2,218 shares during the period. Creative Planning’s holdings in Western Digital Corp were worth $3,428,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System raised its stake in Western Digital Corp by 1.0% in the first quarter. Arizona State Retirement System now owns 71,313 shares of the data storage provider’s stock worth $5,885,000 after buying an additional 700 shares in the last quarter. Hillsdale Investment Management Inc. raised its stake in Western Digital Corp by 16.9% in the first quarter. Hillsdale Investment Management Inc. now owns 5,610 shares of the data storage provider’s stock worth $463,000 after buying an additional 810 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Western Digital Corp during the fourth quarter worth approximately $2,464,000. Advisory Services Network LLC acquired a new stake in Western Digital Corp during the first quarter worth approximately $704,000. Finally, Exane Derivatives raised its stake in Western Digital Corp by 7,574.0% in the first quarter. Exane Derivatives now owns 35,761 shares of the data storage provider’s stock worth $2,951,000 after buying an additional 35,295 shares in the last quarter. Hedge funds and other institutional investors own 82.39% of the company’s stock.
Shares of Western Digital Corp (NASDAQ WDC) opened at 80.97 on Tuesday. The company’s 50 day moving average is $90.61 and its 200 day moving average is $84.10. Western Digital Corp has a 52-week low of $43.09 and a 52-week high of $95.77. The firm has a market cap of $23.64 billion, a price-to-earnings ratio of 60.43 and a beta of 1.22. Western Digital Corp also saw some unusual options trading activity on Monday. Stock investors bought 6,330 call options on the stock. This is an increase of approximately 292% compared to the typical volume of 1,613 call options.
Western Digital Corp (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, July 27th. The data storage provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.51 by $0.42. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Western Digital Corp had a net margin of 5.78% and a return on equity of 10.01%. Western Digital Corp’s revenue for the quarter was up 38.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.79 earnings per share. Analysts anticipate that Western Digital Corp will post $12.54 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, September 28th. This represents a $2.00 annualized dividend and a yield of 2.47%. Western Digital Corp’s dividend payout ratio is currently 156.25%.
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A number of analysts have commented on WDC shares. Vetr raised shares of Western Digital Corp from a “buy” rating to a “strong-buy” rating and set a $94.27 target price for the company in a report on Monday, April 17th. Zacks Investment Research raised shares of Western Digital Corp from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a report on Friday, April 21st. Royal Bank Of Canada boosted their price target on shares of Western Digital Corp from $33.00 to $39.00 and gave the company an “outperform” rating in a report on Thursday, May 11th. Benchmark Co. boosted their price target on shares of Western Digital Corp from $100.00 to $135.00 and gave the company a “buy” rating in a report on Friday, April 28th. Finally, Maxim Group boosted their price target on shares of Western Digital Corp from $104.00 to $108.00 and gave the company a “buy” rating in a report on Friday, April 28th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $104.93.
In other Western Digital Corp news, CFO Mark P. Long sold 17,028 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $93.84, for a total value of $1,597,907.52. Following the completion of the transaction, the chief financial officer now owns 53,551 shares of the company’s stock, valued at approximately $5,025,225.84. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark P. Long sold 19,777 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $84.50, for a total transaction of $1,671,156.50. Following the completion of the transaction, the insider now directly owns 90,683 shares of the company’s stock, valued at approximately $7,662,713.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 126,966 shares of company stock valued at $11,263,675. 0.46% of the stock is owned by corporate insiders.
About Western Digital Corp
Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions).
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