Dreman Value Management L L C held its position in shares of Western Digital Corporation (NASDAQ:WDC) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 34,185 shares of the data storage provider’s stock at the close of the second quarter. Western Digital Corporation accounts for approximately 1.6% of Dreman Value Management L L C’s investment portfolio, making the stock its 3rd largest position. Dreman Value Management L L C’s holdings in Western Digital Corporation were worth $2,821,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Buckingham Capital Management Inc. purchased a new stake in Western Digital Corporation during the second quarter valued at about $1,754,000. Korea Investment CORP lifted its stake in Western Digital Corporation by 14.7% during the second quarter. Korea Investment CORP now owns 595,049 shares of the data storage provider’s stock valued at $52,721,000 after buying an additional 76,459 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Western Digital Corporation by 18.3% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 67,329 shares of the data storage provider’s stock valued at $5,965,000 after buying an additional 10,428 shares in the last quarter. Capital Analysts LLC purchased a new stake in Western Digital Corporation during the second quarter valued at about $2,777,000. Finally, Calamos Advisors LLC lifted its stake in Western Digital Corporation by 2.7% during the second quarter. Calamos Advisors LLC now owns 45,377 shares of the data storage provider’s stock valued at $4,020,000 after buying an additional 1,201 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.
In other Western Digital Corporation news, EVP Srinivasan Sivaram sold 3,098 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $85.00, for a total value of $263,330.00. Following the transaction, the executive vice president now directly owns 74,741 shares of the company’s stock, valued at approximately $6,352,985. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark P. Long sold 28,585 shares of the company’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $94.24, for a total value of $2,693,850.40. Following the completion of the transaction, the insider now directly owns 53,551 shares in the company, valued at $5,046,646.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 128,246 shares of company stock worth $11,323,928. 0.31% of the stock is owned by company insiders.
Western Digital Corporation (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.42. Western Digital Corporation had a return on equity of 21.23% and a net margin of 2.08%. The business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the prior year, the business earned $0.79 EPS. The firm’s revenue for the quarter was up 38.5% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Thursday, September 28th. Western Digital Corporation’s dividend payout ratio (DPR) is presently 156.25%.
A number of analysts have commented on WDC shares. Evercore ISI started coverage on shares of Western Digital Corporation in a research note on Friday, June 16th. They set an “outperform” rating and a $130.00 price objective for the company. Vetr raised shares of Western Digital Corporation from a “buy” rating to a “strong-buy” rating and set a $100.46 price objective for the company in a research note on Monday, June 19th. Maxim Group reaffirmed a “buy” rating and set a $108.00 price objective on shares of Western Digital Corporation in a research note on Wednesday, June 21st. Stifel Nicolaus reaffirmed a “buy” rating and set a $120.00 price objective on shares of Western Digital Corporation in a research note on Wednesday, June 21st. Finally, Mizuho reaffirmed a “buy” rating and set a $105.00 price objective on shares of Western Digital Corporation in a research note on Wednesday, June 21st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $111.35.
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Western Digital Corporation 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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