Sun Life Financial INC Buys 2,108 Shares of Western Digital Corporation (WDC)
Sun Life Financial INC lifted its stake in Western Digital Corporation (NASDAQ:WDC) by 16,215.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,121 shares of the data storage provider’s stock after buying an additional 2,108 shares during the period. Sun Life Financial INC’s holdings in Western Digital Corporation were worth $188,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of WDC. Vanguard Group Inc. boosted its position in shares of Western Digital Corporation by 4.2% during the second quarter. Vanguard Group Inc. now owns 29,942,849 shares of the data storage provider’s stock worth $2,652,936,000 after buying an additional 1,201,394 shares during the period. Iridian Asset Management LLC CT raised its position in Western Digital Corporation by 1.8% in the second quarter. Iridian Asset Management LLC CT now owns 5,641,706 shares of the data storage provider’s stock worth $499,855,000 after acquiring an additional 100,195 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Western Digital Corporation by 10.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,443,866 shares of the data storage provider’s stock valued at $393,778,000 after acquiring an additional 405,293 shares during the last quarter. Northern Trust Corp lifted its holdings in Western Digital Corporation by 0.5% in the 2nd quarter. Northern Trust Corp now owns 3,191,625 shares of the data storage provider’s stock valued at $282,778,000 after acquiring an additional 16,436 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Western Digital Corporation by 9.6% in the 1st quarter. Geode Capital Management LLC now owns 3,031,364 shares of the data storage provider’s stock valued at $249,848,000 after acquiring an additional 264,706 shares during the last quarter. 82.34% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on WDC shares. Vetr lowered Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $95.94 price objective for the company. in a research note on Tuesday, August 22nd. Maxim Group reissued a “buy” rating and set a $108.00 price objective on shares of Western Digital Corporation in a research report on Wednesday, August 30th. ValuEngine cut Western Digital Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Royal Bank Of Canada reissued a “buy” rating on shares of Western Digital Corporation in a research report on Monday, June 12th. Finally, Cowen and Company reissued an “outperform” rating and set a $117.00 target price on shares of Western Digital Corporation in a research report on Thursday, September 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $111.44.
Shares of Western Digital Corporation (WDC) traded down 0.34% on Tuesday, hitting $83.11. The stock had a trading volume of 1,203,184 shares. The stock has a market cap of $24.51 billion, a PE ratio of 62.02 and a beta of 1.24. Western Digital Corporation has a 12 month low of $52.10 and a 12 month high of $95.77. The stock has a 50 day moving average of $87.20 and a 200-day moving average of $87.06. Western Digital Corporation also was the recipient of some unusual options trading activity on Monday. Stock traders acquired 6,330 call options on the stock. This is an increase of 292% compared to the typical volume of 1,613 call options.
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. 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 for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the prior year, the firm earned $0.79 earnings per share. The firm’s revenue for the quarter was up 38.5% compared to the same quarter last year. Equities research analysts anticipate that Western Digital Corporation will post $12.38 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 given a $0.50 dividend. The ex-dividend date is Thursday, September 28th. This represents a $2.00 annualized dividend and a yield of 2.40%. Western Digital Corporation’s payout ratio is 156.25%.
In other Western Digital Corporation news, CFO Mark P. Long sold 1,517 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $80.97, for a total transaction of $122,831.49. Following the sale, the chief financial officer now directly owns 88,207 shares of the company’s stock, valued at $7,142,120.79. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Srinivasan Sivaram sold 16,049 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $85.06, for a total value of $1,365,127.94. The disclosure for this sale can be found here. Insiders sold 144,295 shares of company stock worth $12,689,056 over the last three months. Insiders own 0.31% of the company’s stock.
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Western Digital Corporation 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).
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