Cipher Capital LP Invests $2.90 Million in Western Digital Corporation (WDC)
Cipher Capital LP bought a new stake in Western Digital Corporation (NASDAQ:WDC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 32,712 shares of the data storage provider’s stock, valued at approximately $2,899,000.
Several other institutional investors have also recently bought and sold shares of WDC. Iridian Asset Management LLC CT grew its position in shares of Western Digital Corporation by 244.0% in the first quarter. Iridian Asset Management LLC CT now owns 5,541,511 shares of the data storage provider’s stock valued at $457,341,000 after purchasing an additional 3,930,465 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Western Digital Corporation by 4.5% in the first quarter. Vanguard Group Inc. now owns 28,741,455 shares of the data storage provider’s stock valued at $2,372,032,000 after purchasing an additional 1,250,528 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Western Digital Corporation by 179.3% in the first quarter. Alliancebernstein L.P. now owns 1,619,954 shares of the data storage provider’s stock valued at $133,695,000 after purchasing an additional 1,040,028 shares during the last quarter. Villere ST Denis J & Co. LLC acquired a new position in shares of Western Digital Corporation in the first quarter valued at approximately $84,484,000. Finally, UBS Asset Management Americas Inc. grew its position in shares of Western Digital Corporation by 52.2% in the first quarter. UBS Asset Management Americas Inc. now owns 2,393,005 shares of the data storage provider’s stock valued at $197,495,000 after purchasing an additional 821,155 shares during the last quarter. 82.43% of the stock is currently owned by institutional investors.
In related news, CFO Mark P. Long sold 17,028 shares of the stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $93.84, for a total transaction of $1,597,907.52. Following the transaction, the chief financial officer now owns 53,551 shares in the company, valued at $5,025,225.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael D. Cordano sold 11,322 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $85.00, for a total transaction of $962,370.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 144,767 shares of company stock worth $12,690,484. 0.46% of the stock is owned by insiders.
WDC has been the topic of a number of analyst reports. Royal Bank Of Canada increased their price target on Western Digital Corporation from $33.00 to $39.00 and gave the stock an “outperform” rating in a research report on Thursday, May 11th. Wells Fargo & Company reissued a “market perform” rating and set a $95.00 price target on shares of Western Digital Corporation in a research report on Monday, May 15th. Susquehanna Bancshares Inc reissued a “positive” rating and set a $140.00 price target on shares of Western Digital Corporation in a research report on Wednesday, May 17th. Mizuho reissued a “buy” rating on shares of Western Digital Corporation in a research report on Friday, May 19th. Finally, J P Morgan Chase & Co reissued an “overweight” rating on shares of Western Digital Corporation in a research report on Friday, May 19th. Eight research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company. Western Digital Corporation presently has a consensus rating of “Buy” and an average price target of $104.51.
Shares of Western Digital Corporation (WDC) opened at 90.41 on Monday. The company has a market cap of $26.40 billion, a PE ratio of 67.47 and a beta of 1.21. Western Digital Corporation has a 12-month low of $46.26 and a 12-month high of $95.77. The company has a 50 day moving average of $87.65 and a 200-day moving average of $85.28.
Western Digital Corporation (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, July 27th. The data storage provider reported $2.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.51 by $0.42. The company had revenue of $4.84 billion for 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 firm’s revenue for the quarter was up 38.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.79 earnings per share. Equities research analysts anticipate that Western Digital Corporation will post $12.54 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given 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 2.21%. Western Digital Corporation’s dividend payout ratio (DPR) is 156.25%.
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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