WINTON GROUP Ltd Raises Stake in Western Digital Corp (WDC)
WINTON GROUP Ltd lifted its position in shares of Western Digital Corp (NASDAQ:WDC) by 104.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,982 shares of the data storage provider’s stock after purchasing an additional 5,099 shares during the period. WINTON GROUP Ltd’s holdings in Western Digital were worth $794,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of WDC. Bessemer Group Inc. raised its position in Western Digital by 17.6% in the 3rd quarter. Bessemer Group Inc. now owns 4,386 shares of the data storage provider’s stock valued at $379,000 after buying an additional 655 shares during the last quarter. Amalgamated Bank raised its position in Western Digital by 2.1% in the 3rd quarter. Amalgamated Bank now owns 33,781 shares of the data storage provider’s stock valued at $2,919,000 after buying an additional 689 shares during the last quarter. Spectrum Management Group Inc. raised its position in Western Digital by 3.1% in the 3rd quarter. Spectrum Management Group Inc. now owns 22,702 shares of the data storage provider’s stock valued at $1,961,000 after buying an additional 690 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in Western Digital by 1.4% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 51,606 shares of the data storage provider’s stock valued at $4,459,000 after buying an additional 700 shares during the last quarter. Finally, ETRADE Capital Management LLC raised its position in Western Digital by 3.7% in the 3rd quarter. ETRADE Capital Management LLC now owns 19,897 shares of the data storage provider’s stock valued at $1,719,000 after buying an additional 711 shares during the last quarter. 84.02% of the stock is currently owned by institutional investors.
In other Western Digital news, CEO Stephen D. Milligan sold 23,155 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $94.49, for a total value of $2,187,915.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Charles Ray sold 1,208 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $88.53, for a total value of $106,944.24. Following the completion of the transaction, the executive vice president now owns 40,144 shares of the company’s stock, valued at approximately $3,553,948.32. The disclosure for this sale can be found here. Insiders have sold a total of 187,757 shares of company stock valued at $16,522,057 in the last quarter. 0.31% of the stock is owned by corporate insiders.
Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, January 25th. The data storage provider reported $3.95 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.44. The company had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.31 billion. Western Digital had a return on equity of 30.78% and a net margin of 1.93%. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.30 EPS. research analysts forecast that Western Digital Corp will post 12.66 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Friday, March 30th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $2.00 annualized dividend and a dividend yield of 2.01%. Western Digital’s payout ratio is 30.67%.
A number of equities research analysts recently commented on WDC shares. UBS Group lowered their price target on Western Digital to $88.00 and set a “neutral” rating for the company in a research report on Wednesday, December 13th. Vetr lowered Western Digital from a “strong-buy” rating to a “buy” rating and set a $97.62 price target for the company. in a research report on Monday, November 13th. BMO Capital Markets lowered Western Digital from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $120.00 to $90.00 in a research report on Thursday, January 4th. BidaskClub lowered Western Digital from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Finally, Benchmark reaffirmed a “buy” rating and set a $130.00 target price on shares of Western Digital in a research report on Tuesday, December 26th. Twelve analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $111.62.
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Western Digital 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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