Western Digital Corporation (WDC) CFO Mark P. Long Sells 1,517 Shares
Western Digital Corporation (NASDAQ:WDC) CFO Mark P. Long sold 1,517 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $80.97, for a total transaction of $122,831.49. Following the completion of the transaction, the chief financial officer now owns 88,207 shares in the company, valued at approximately $7,142,120.79. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Western Digital Corporation (WDC) traded up 2.42% during midday trading on Wednesday, hitting $85.85. 4,168,680 shares of the stock traded hands. The company has a market capitalization of $25.07 billion, a price-to-earnings ratio of 64.07 and a beta of 1.22. Western Digital Corporation has a 52 week low of $44.88 and a 52 week high of $95.77. The stock’s 50-day moving average price is $88.23 and its 200 day moving average price is $84.54.
Western Digital Corporation (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, July 27th. The data storage provider reported $2.93 EPS for the quarter, beating the Zacks’ consensus estimate of $2.51 by $0.42. Western Digital Corporation had a net margin of 2.08% and a return on equity of 21.23%. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the business posted $0.79 EPS. The firm’s revenue was up 38.5% compared to the same quarter last year. On average, equities research analysts predict that Western Digital Corporation will post $12.54 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a yield of 2.33%. Western Digital Corporation’s dividend payout ratio is currently 156.25%.
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A number of large investors have recently bought and sold shares of WDC. Highbridge Capital Management LLC raised its stake in Western Digital Corporation by 230.3% in the fourth quarter. Highbridge Capital Management LLC now owns 4,561 shares of the data storage provider’s stock worth $310,000 after buying an additional 8,061 shares in the last quarter. Reilly Financial Advisors LLC raised its stake in Western Digital Corporation by 49.8% in the first quarter. Reilly Financial Advisors LLC now owns 1,383 shares of the data storage provider’s stock worth $114,000 after buying an additional 460 shares in the last quarter. Telemus Capital LLC raised its stake in Western Digital Corporation by 10.5% in the first quarter. Telemus Capital LLC now owns 14,152 shares of the data storage provider’s stock worth $1,168,000 after buying an additional 1,344 shares in the last quarter. Barometer Capital Management Inc. purchased a new stake in Western Digital Corporation during the first quarter worth approximately $1,329,000. Finally, Ledyard National Bank raised its stake in Western Digital Corporation by 4.5% in the first quarter. Ledyard National Bank now owns 47,925 shares of the data storage provider’s stock worth $3,955,000 after buying an additional 2,070 shares in the last quarter. Institutional investors own 81.91% of the company’s stock.
A number of research analysts recently commented on the stock. UBS AG restated a “neutral” rating and set a $92.00 target price (up previously from $90.00) on shares of Western Digital Corporation in a research report on Wednesday, June 28th. BidaskClub lowered shares of Western Digital Corporation from a “hold” rating to a “sell” rating in a research report on Saturday. J P Morgan Chase & Co restated an “overweight” rating on shares of Western Digital Corporation in a research report on Tuesday, August 1st. Stifel Nicolaus restated a “buy” rating and set a $120.00 target price on shares of Western Digital Corporation in a research report on Monday, August 7th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Western Digital Corporation in a research report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $104.93.
About Western Digital Corporation
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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