State of Wyoming Purchases 12,899 Shares of Western Digital Corporation $WDC

State of Wyoming increased its position in Western Digital Corporation (NASDAQ:WDC) by 220.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,762 shares of the data storage provider’s stock after buying an additional 12,899 shares during the period. State of Wyoming’s holdings in Western Digital were worth $1,201,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. CVA Family Office LLC increased its stake in shares of Western Digital by 23.7% during the 2nd quarter. CVA Family Office LLC now owns 904 shares of the data storage provider’s stock worth $58,000 after purchasing an additional 173 shares during the last quarter. Manchester Capital Management LLC boosted its holdings in Western Digital by 47.2% in the second quarter. Manchester Capital Management LLC now owns 577 shares of the data storage provider’s stock worth $37,000 after purchasing an additional 185 shares in the last quarter. Forum Financial Management LP increased its position in Western Digital by 3.4% during the second quarter. Forum Financial Management LP now owns 5,895 shares of the data storage provider’s stock worth $377,000 after buying an additional 193 shares during the last quarter. UMB Bank n.a. increased its position in Western Digital by 6.2% during the second quarter. UMB Bank n.a. now owns 3,465 shares of the data storage provider’s stock worth $222,000 after buying an additional 202 shares during the last quarter. Finally, Private Wealth Management Group LLC raised its holdings in Western Digital by 102.5% during the second quarter. Private Wealth Management Group LLC now owns 399 shares of the data storage provider’s stock valued at $26,000 after buying an additional 202 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. China Renaissance began coverage on Western Digital in a research note on Friday, December 5th. They set a “buy” rating and a $193.00 price target for the company. Zacks Research raised Western Digital from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Robert W. Baird set a $180.00 price target on shares of Western Digital in a research report on Friday, October 31st. Wedbush boosted their price objective on shares of Western Digital from $90.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Finally, UBS Group upped their price objective on shares of Western Digital from $135.00 to $145.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $164.70.

Western Digital Trading Down 5.8%

Shares of Western Digital stock opened at $176.34 on Friday. Western Digital Corporation has a 1 year low of $28.83 and a 1 year high of $188.77. The company’s fifty day simple moving average is $147.12 and its 200-day simple moving average is $101.42. The company has a market cap of $60.29 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 1.09 and a beta of 1.82. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.42.

Western Digital (NASDAQ:WDC) last released its earnings results on Monday, April 7th. The data storage provider reported $1.78 EPS for the quarter. The firm had revenue of $4.10 billion during the quarter. Western Digital had a net margin of 21.37% and a return on equity of 30.89%. As a group, sell-side analysts expect that Western Digital Corporation will post 4.89 EPS for the current year.

Western Digital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.3%. This is a boost from Western Digital’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Thursday, December 4th. Western Digital’s dividend payout ratio (DPR) is 7.28%.

Insider Transactions at Western Digital

In other Western Digital news, CEO Irving Tan sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $150.69, for a total value of $3,013,800.00. Following the completion of the transaction, the chief executive officer owned 645,467 shares of the company’s stock, valued at $97,265,422.23. This represents a 3.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Cynthia L. Tregillis sold 2,801 shares of Western Digital stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $160.57, for a total value of $449,756.57. Following the sale, the insider directly owned 144,596 shares in the company, valued at $23,217,779.72. The trade was a 1.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 26,369 shares of company stock valued at $4,013,785. 0.18% of the stock is currently owned by insiders.

Western Digital Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.