Virtu KCG Holdings LLC Has $1.66 Million Position in Western Digital Corporation (WDC)
Virtu KCG Holdings LLC cut its holdings in Western Digital Corporation (NASDAQ:WDC) by 28.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,754 shares of the data storage provider’s stock after selling 7,406 shares during the quarter. Virtu KCG Holdings LLC’s holdings in Western Digital Corporation were worth $1,662,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. American Beacon Advisors Inc. purchased a new stake in Western Digital Corporation during the 1st quarter valued at $111,000. Harbour Capital Advisors LLC purchased a new stake in Western Digital Corporation during the 1st quarter valued at $117,000. SRS Capital Advisors Inc. raised its stake in Western Digital Corporation by 26.7% during the 1st 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 last quarter. Ruggie Capital Group purchased a new stake in Western Digital Corporation during the 1st quarter valued at $127,000. Finally, Quantbot Technologies LP purchased a new stake in Western Digital Corporation during the 2nd quarter valued at $135,000. 82.34% of the stock is currently owned by institutional investors and hedge funds.
In other Western Digital Corporation news, COO Michael D. Cordano sold 4,954 shares of the business’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $94.98, for a total value of $470,530.92. Following the transaction, the chief operating officer now directly owns 66,092 shares in the company, valued at approximately $6,277,418.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark P. Long sold 17,028 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 53,551 shares in the company, valued at $5,025,225.84. The disclosure for this sale can be found here. Insiders sold a total of 144,295 shares of company stock worth $12,689,056 over the last quarter. 0.31% of the stock is currently owned by company insiders.
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Shares of Western Digital Corporation (NASDAQ WDC) opened at 88.72 on Thursday. The stock has a market capitalization of $26.16 billion, a price-to-earnings ratio of 66.21 and a beta of 1.21. Western Digital Corporation has a 52-week low of $52.10 and a 52-week high of $95.77. The company has a 50-day moving average of $86.12 and a 200-day moving average of $86.39.
Western Digital Corporation (NASDAQ:WDC) last posted its earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.42. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.82 billion. Western Digital Corporation had a net margin of 2.08% and a return on equity of 21.23%. Western Digital Corporation’s revenue was up 38.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 EPS. Equities research analysts anticipate that Western Digital Corporation will post $12.50 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders 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 annualized dividend and a yield of 2.32%. Western Digital Corporation’s payout ratio is 156.25%.
A number of brokerages have weighed in on WDC. Zacks Investment Research lowered shares of Western Digital Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday. Benchmark Co. reiterated a “buy” rating and set a $135.00 target price on shares of Western Digital Corporation in a research note on Monday. Barclays PLC reiterated an “overweight” rating and set a $131.00 target price on shares of Western Digital Corporation in a research note on Monday. Cowen and Company reiterated an “outperform” rating and set a $117.00 target price on shares of Western Digital Corporation in a research note on Thursday, September 21st. Finally, UBS AG reiterated an “add” rating on shares of Western Digital Corporation in a research note on Wednesday, September 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $111.34.
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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