Henry T. Denero Sells 4,097 Shares of Western Digital Corporation (WDC) Stock

Western Digital Corporation (NASDAQ:WDC) Director Henry T. Denero sold 4,097 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $85.97, for a total value of $352,219.09. Following the sale, the director now owns 10,834 shares in the company, valued at approximately $931,398.98. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

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WDC has been the topic of several recent research reports. UBS AG restated an “add” rating on shares of Western Digital Corporation in a report on Wednesday, September 20th. Vetr downgraded Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $102.77 price objective on the stock. in a report on Wednesday, July 12th. Stifel Nicolaus reiterated a “buy” rating and issued a $120.00 price objective on shares of Western Digital Corporation in a report on Tuesday, July 11th. Longbow Research reiterated a “buy” rating and issued a $120.00 price objective (up previously from $12.00) on shares of Western Digital Corporation in a report on Friday, July 7th. Finally, Maxim Group reiterated a “buy” rating and issued a $108.00 price objective on shares of Western Digital Corporation in a report on Friday, July 28th. Nine investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and three have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $113.95.

Several large investors have recently bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in shares of Western Digital Corporation by 14.9% during the third quarter. Principal Financial Group Inc. now owns 728,019 shares of the data storage provider’s stock valued at $62,901,000 after purchasing an additional 94,615 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Western Digital Corporation by 1.3% during the third quarter. Oregon Public Employees Retirement Fund now owns 160,911 shares of the data storage provider’s stock valued at $13,903,000 after purchasing an additional 1,991 shares during the last quarter. Boston Partners grew its holdings in shares of Western Digital Corporation by 0.3% during the third quarter. Boston Partners now owns 1,046,658 shares of the data storage provider’s stock valued at $90,431,000 after purchasing an additional 3,444 shares during the last quarter. Keybank National Association OH grew its holdings in shares of Western Digital Corporation by 2.7% during the third quarter. Keybank National Association OH now owns 130,257 shares of the data storage provider’s stock valued at $11,254,000 after purchasing an additional 3,366 shares during the last quarter. Finally, Cavalier Investments LLC bought a new position in shares of Western Digital Corporation during the third quarter valued at approximately $484,000. 82.72% of the stock is owned by institutional investors.

About Western Digital Corporation

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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