Insider Selling: Western Digital Corporation (WDC) EVP Sells 14,358 Shares of Stock
Western Digital Corporation (NASDAQ:WDC) EVP Jacqueline Demaria sold 14,358 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $84.53, for a total transaction of $1,213,681.74. Following the sale, the executive vice president now directly owns 75,772 shares in the company, valued at $6,405,007.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Western Digital Corporation (NASDAQ:WDC) traded up 0.87% during trading on Friday, hitting $83.20. 3,002,888 shares of the stock traded hands. The firm has a market cap of $24.29 billion, a PE ratio of 62.09 and a beta of 1.22. Western Digital Corporation has a 52-week low of $45.25 and a 52-week high of $95.77. The company’s 50 day moving average is $87.67 and its 200 day moving average is $84.55.
Western Digital Corporation (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, July 27th. The data storage provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.42. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.82 billion. Western Digital Corporation had a net margin of 2.08% and a return on equity of 21.23%. The company’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 earnings per share. On average, equities research analysts predict that Western Digital Corporation will post $12.54 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a $0.50 dividend. The ex-dividend date is Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a yield of 2.40%. Western Digital Corporation’s payout ratio is 156.25%.
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Large investors have recently added to or reduced their stakes in the stock. American Beacon Advisors Inc. bought a new stake in Western Digital Corporation during the first quarter worth about $111,000. Acrospire Investment Management LLC bought a new stake in Western Digital Corporation during the first quarter worth about $112,000. Reilly Financial Advisors LLC increased 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 during the last quarter. Harbour Capital Advisors LLC bought a new stake in Western Digital Corporation during the first quarter worth about $117,000. Finally, SRS Capital Advisors Inc. increased its stake in Western Digital Corporation by 26.7% in the first quarter. SRS Capital Advisors Inc. now owns 1,453 shares of the data storage provider’s stock worth $119,000 after buying an additional 306 shares during the last quarter. Hedge funds and other institutional investors own 81.91% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. UBS AG reissued a “neutral” rating and set a $92.00 price objective (up from $90.00) on shares of Western Digital Corporation in a report on Wednesday, June 28th. Jefferies Group LLC reissued a “hold” rating and set a $90.00 price objective on shares of Western Digital Corporation in a report on Friday. BidaskClub raised shares of Western Digital Corporation from a “sell” rating to a “hold” rating in a report on Friday. J P Morgan Chase & Co restated an “overweight” rating on shares of Western Digital Corporation in a research report on Tuesday, August 1st. Finally, 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. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. Western Digital Corporation presently has a consensus rating of “Buy” and an average price target of $104.66.
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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