Breton Hill Capital Ltd. Buys Shares of 3,052 Western Digital Corporation (WDC)
Breton Hill Capital Ltd. bought a new stake in shares of Western Digital Corporation (NASDAQ:WDC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,052 shares of the data storage provider’s stock, valued at approximately $264,000.
A number of other large investors have also recently bought and sold shares of WDC. Capital World Investors purchased a new position in shares of Western Digital Corporation in the second quarter worth $1,019,202,000. Vanguard Group Inc. raised its holdings in shares of Western Digital Corporation by 4.2% in 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 last quarter. Janus Henderson Group PLC raised its holdings in shares of Western Digital Corporation by 140.4% in the second quarter. Janus Henderson Group PLC now owns 1,994,833 shares of the data storage provider’s stock worth $176,746,000 after buying an additional 1,164,954 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Western Digital Corporation by 24,087.4% in the second quarter. Schroder Investment Management Group now owns 902,431 shares of the data storage provider’s stock worth $82,709,000 after buying an additional 898,700 shares during the last quarter. Finally, Discovery Capital Management LLC CT raised its holdings in shares of Western Digital Corporation by 98.9% in the second quarter. Discovery Capital Management LLC CT now owns 1,576,089 shares of the data storage provider’s stock worth $139,641,000 after buying an additional 783,589 shares during the last quarter. 81.77% of the stock is owned by institutional investors.
Shares of Western Digital Corporation (NASDAQ WDC) traded down $0.48 during mid-day trading on Monday, reaching $88.45. 204,127 shares of the company’s stock were exchanged, compared to its average volume of 4,153,209. The company has a quick ratio of 2.13, a current ratio of 2.64 and a debt-to-equity ratio of 1.07. Western Digital Corporation has a one year low of $56.26 and a one year high of $95.77. The stock has a market capitalization of $26,301.34, a P/E ratio of 8.93 and a beta of 1.17.
Western Digital Corporation (NASDAQ:WDC) last released its quarterly earnings results on Thursday, October 26th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.01 by $0.55. The business had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.13 billion. Western Digital Corporation had a net margin of 7.38% and a return on equity of 26.48%. The business’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.18 EPS. analysts anticipate that Western Digital Corporation will post 11.93 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Thursday, December 28th. Western Digital Corporation’s dividend payout ratio (DPR) is 41.75%.
Western Digital Corporation announced that its board has initiated a share repurchase plan on Thursday, November 9th that authorizes the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization authorizes the data storage provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
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WDC has been the subject of a number of research analyst reports. Vetr cut shares of Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $93.86 price target for the company. in a report on Tuesday, October 10th. ValuEngine lowered shares of Western Digital Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $88.00 price objective on shares of Western Digital Corporation in a research note on Tuesday, October 10th. Mizuho reiterated a “buy” rating and issued a $105.00 price objective on shares of Western Digital Corporation in a research note on Tuesday, September 5th. Finally, UBS AG cut their price objective on shares of Western Digital Corporation from $101.00 to $93.00 and set a “neutral” rating on the stock in a research note on Thursday, October 12th. Nine research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and three have issued a strong buy rating to the stock. Western Digital Corporation currently has an average rating of “Buy” and an average target price of $113.95.
In other news, insider Michael D. Cordano sold 9,404 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $88.71, for a total value of $834,228.84. Following the sale, the insider now directly owns 75,385 shares of the company’s stock, valued at approximately $6,687,403.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Srinivasan Sivaram sold 3,098 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $85.00, for a total transaction of $263,330.00. Following the completion of the sale, the executive vice president now directly owns 74,741 shares in the company, valued at $6,352,985. The disclosure for this sale can be found here. Insiders sold a total of 44,369 shares of company stock worth $3,781,940 over the last three months. Insiders own 0.31% of the company’s stock.
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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