First Midwest Bank Trust Division lessened its holdings in Western Digital Corp (NASDAQ:WDC) by 8.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,941 shares of the data storage provider’s stock after selling 371 shares during the quarter. First Midwest Bank Trust Division’s holdings in Western Digital were worth $235,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of WDC. Invesco Ltd. increased its holdings in Western Digital by 36.5% in the second quarter. Invesco Ltd. now owns 6,340,189 shares of the data storage provider’s stock valued at $301,475,000 after buying an additional 1,696,513 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in Western Digital by 3,406.5% in the second quarter. Nuveen Asset Management LLC now owns 1,309,208 shares of the data storage provider’s stock valued at $62,253,000 after buying an additional 1,271,871 shares during the last quarter. DNB Asset Management AS increased its holdings in Western Digital by 3,652.9% in the second quarter. DNB Asset Management AS now owns 1,288,814 shares of the data storage provider’s stock valued at $61,283,000 after buying an additional 1,254,472 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Western Digital by 1.7% during the second quarter. Vanguard Group Inc. now owns 32,104,981 shares of the data storage provider’s stock worth $1,526,591,000 after purchasing an additional 532,800 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Western Digital by 17.3% during the second quarter. First Trust Advisors LP now owns 3,272,870 shares of the data storage provider’s stock worth $155,625,000 after purchasing an additional 482,473 shares during the last quarter. 85.93% of the stock is currently owned by hedge funds and other institutional investors.

Shares of WDC opened at $58.13 on Monday. Western Digital Corp has a fifty-two week low of $33.83 and a fifty-two week high of $65.31. The company has a market capitalization of $17.65 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 16.44 and a beta of 1.85. The firm has a 50-day simple moving average of $60.01 and a 200-day simple moving average of $51.52. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.36 and a current ratio of 2.22.

Western Digital (NASDAQ:WDC) last announced its earnings results on Wednesday, July 31st. The data storage provider reported $0.17 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.22. Western Digital had a negative net margin of 4.55% and a positive return on equity of 10.73%. The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter in the prior year, the firm earned $3.61 earnings per share. The business’s quarterly revenue was down 29.0% compared to the same quarter last year. Equities research analysts forecast that Western Digital Corp will post 1.81 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Friday, October 4th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, October 3rd. This represents a $2.00 annualized dividend and a dividend yield of 3.44%. Western Digital’s dividend payout ratio (DPR) is 52.49%.

WDC has been the topic of several research reports. UBS Group set a $63.00 price objective on Western Digital and gave the stock a “hold” rating in a report on Tuesday, September 10th. Longbow Research reaffirmed a “buy” rating on shares of Western Digital in a report on Tuesday, October 15th. BidaskClub lowered Western Digital from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 21st. Maxim Group set a $126.00 price objective on Western Digital and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, Wedbush raised Western Digital from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $32.50 to $54.50 in a report on Thursday, August 1st. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $60.58.

In related news, EVP Michael Charles Ray sold 87,053 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $59.96, for a total value of $5,219,697.88. Following the completion of the sale, the executive vice president now owns 112,480 shares in the company, valued at $6,744,300.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Lori S. Sundberg sold 3,442 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $56.82, for a total transaction of $195,574.44. Following the completion of the sale, the executive vice president now owns 29,312 shares of the company’s stock, valued at approximately $1,665,507.84. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by corporate insiders.

Western Digital Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.

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Institutional Ownership by Quarter for Western Digital (NASDAQ:WDC)

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