Western Digital Corp (NASDAQ:WDC) Position Boosted by National Pension Service
National Pension Service boosted its stake in Western Digital Corp (NASDAQ:WDC) by 23.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 284,475 shares of the data storage provider’s stock after buying an additional 53,304 shares during the period. National Pension Service owned 0.10% of Western Digital Corp worth $26,072,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. American Beacon Advisors Inc. bought a new position in Western Digital Corp during the first quarter valued at $111,000. Acrospire Investment Management LLC bought a new position in Western Digital Corp during the first quarter valued at $112,000. Reilly Financial Advisors LLC raised its position in Western Digital Corp by 49.8% in the first quarter. Reilly Financial Advisors LLC now owns 1,383 shares of the data storage provider’s stock valued at $114,000 after buying an additional 460 shares during the period. Harbour Capital Advisors LLC bought a new position in Western Digital Corp during the first quarter valued at $117,000. Finally, SRS Capital Advisors Inc. raised its position in Western Digital Corp by 26.7% in the first quarter. SRS Capital Advisors Inc. now owns 1,453 shares of the data storage provider’s stock valued at $119,000 after buying an additional 306 shares during the period. Institutional investors and hedge funds own 82.39% of the company’s stock.
Shares of Western Digital Corp (WDC) opened at 80.97 on Tuesday. The firm’s 50-day moving average is $90.61 and its 200-day moving average is $84.10. Western Digital Corp has a 12-month low of $43.09 and a 12-month 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 was the recipient of some unusual options trading activity on Monday. Stock traders purchased 6,330 call options on the stock. This is an increase of approximately 292% compared to the average daily volume of 1,613 call options.
Western Digital Corp (NASDAQ:WDC) last released its quarterly earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.51 by $0.42. The firm had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.82 billion. Western Digital Corp had a net margin of 5.78% and a return on equity of 10.01%. The company’s revenue for the quarter was up 38.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 earnings per share. Analysts predict that Western Digital Corp will post $12.54 earnings per share for the current fiscal year.
The company also recently announced 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. This represents a $2.00 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Thursday, September 28th. Western Digital Corp’s dividend payout ratio is presently 156.25%.
Several research firms have weighed in on WDC. Stifel Nicolaus restated a “buy” rating and set a $120.00 target price on shares of Western Digital Corp in a report on Monday. Zacks Investment Research upgraded Western Digital Corp from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. J P Morgan Chase & Co restated an “overweight” rating on shares of Western Digital Corp in a report on Tuesday, August 1st. BMO Capital Markets set a $120.00 target price on Western Digital Corp and gave the company a “buy” rating in a report on Friday, July 28th. Finally, BidaskClub lowered Western Digital Corp from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company. Western Digital Corp has a consensus rating of “Buy” and an average price target of $104.93.
In other news, COO Michael D. Cordano sold 4,954 shares of Western Digital Corp stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $94.98, for a total transaction of $470,530.92. Following the completion of the transaction, the chief operating officer now directly owns 66,092 shares in the company, valued at $6,277,418.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Srinivasan Sivaram sold 16,049 shares of Western Digital Corp stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $85.06, for a total transaction of $1,365,127.94. The disclosure for this sale can be found here. Insiders sold 126,966 shares of company stock valued at $11,263,675 over the last 90 days. Corporate 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 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).
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.