Hussman Strategic Advisors Inc. Buys New Stake in Western Digital Corporation (WDC)

Hussman Strategic Advisors Inc. bought a new stake in shares of Western Digital Corporation (NASDAQ:WDC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 35,000 shares of the data storage provider’s stock, valued at approximately $3,024,000.

Other institutional investors have also made changes to their positions in the company. American Beacon Advisors Inc. bought a new stake in shares of Western Digital Corporation during the 1st quarter valued at about $111,000. Quantbot Technologies LP bought a new stake in shares of Western Digital Corporation during the 2nd quarter valued at about $135,000. Huntington National Bank boosted its position in shares of Western Digital Corporation by 7.7% during the 2nd quarter. Huntington National Bank now owns 1,965 shares of the data storage provider’s stock valued at $174,000 after purchasing an additional 141 shares in the last quarter. Sun Life Financial INC boosted its position in shares of Western Digital Corporation by 16,215.4% during the 2nd quarter. Sun Life Financial INC now owns 2,121 shares of the data storage provider’s stock valued at $188,000 after purchasing an additional 2,108 shares in the last quarter. Finally, Grove Bank & Trust boosted its position in shares of Western Digital Corporation by 33.3% during the 2nd quarter. Grove Bank & Trust now owns 2,199 shares of the data storage provider’s stock valued at $195,000 after purchasing an additional 549 shares in the last quarter. Institutional investors own 82.72% of the company’s stock.

WDC has been the topic of several research analyst reports. Vetr lowered Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $95.94 target price on the stock. in a research report on Tuesday, August 22nd. Mizuho restated a “buy” rating and set a $105.00 target price on shares of Western Digital Corporation in a research report on Sunday, October 8th. Maxim Group reiterated a “buy” rating and issued a $108.00 price target on shares of Western Digital Corporation in a report on Wednesday, August 30th. Zacks Investment Research upgraded Western Digital Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Finally, ValuEngine lowered Western Digital Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Nine analysts have rated the stock with a hold rating, twenty-five have given a buy rating and three have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $113.95.

Western Digital Corporation (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, October 26th. The data storage provider reported $3.56 EPS for the quarter, topping the consensus estimate of $3.01 by $0.55. Western Digital Corporation had a net margin of 7.38% and a return on equity of 26.48%. The firm had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same period in the prior year, the business posted $1.18 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year.

In related news, EVP Manish H. Bhatia sold 2,762 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $84.79, for a total transaction of $234,189.98. Following the sale, the executive vice president now directly owns 75,467 shares of the company’s stock, valued at approximately $6,398,846.93. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark P. Long sold 1,517 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $80.97, for a total transaction of $122,831.49. Following the sale, the chief financial officer now directly owns 88,207 shares in the company, valued at $7,142,120.79. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,418 shares of company stock worth $5,881,436. 0.31% of the stock is owned by insiders.

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

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