Western Digital Corporation (NASDAQ:WDC) insider Michael D. Cordano sold 1,401 shares of the stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $85.00, for a total transaction of $119,085.00. Following the transaction, the insider now directly owns 70,560 shares in the company, valued at approximately $5,997,600. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of Western Digital Corporation (NASDAQ:WDC) traded down $1.94 on Thursday, reaching $80.83. 4,921,343 shares of the company’s stock traded hands, compared to its average volume of 4,172,737. Western Digital Corporation has a fifty-two week low of $67.61 and a fifty-two week high of $95.77. The company has a quick ratio of 2.13, a current ratio of 2.64 and a debt-to-equity ratio of 1.07. The stock has a market cap of $23,860.00, a PE ratio of 8.46, a P/E/G ratio of 0.22 and a beta of 1.10.
Western Digital (NASDAQ:WDC) last posted its earnings results on Thursday, October 26th. The data storage provider reported $3.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.01 by $0.55. Western Digital had a net margin of 7.38% and a return on equity of 26.48%. The firm had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.13 billion. During the same period last year, the company posted $1.18 EPS. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. analysts predict that Western Digital Corporation will post 12.21 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.00 annualized dividend and a dividend yield of 2.47%. Western Digital’s dividend payout ratio is 41.75%.
Several large investors have recently bought and sold shares of WDC. KBC Group NV lifted its position in Western Digital by 12.5% during the 2nd quarter. KBC Group NV now owns 30,715 shares of the data storage provider’s stock valued at $2,721,000 after acquiring an additional 3,401 shares during the period. Blair William & Co. IL lifted its position in Western Digital by 11.8% during the 2nd quarter. Blair William & Co. IL now owns 10,691 shares of the data storage provider’s stock valued at $947,000 after acquiring an additional 1,128 shares during the period. BB&T Securities LLC lifted its position in Western Digital by 14.2% during the 2nd quarter. BB&T Securities LLC now owns 19,334 shares of the data storage provider’s stock valued at $1,712,000 after acquiring an additional 2,411 shares during the period. Federated Investors Inc. PA lifted its position in Western Digital by 92.8% during the 2nd quarter. Federated Investors Inc. PA now owns 18,298 shares of the data storage provider’s stock valued at $1,621,000 after acquiring an additional 8,805 shares during the period. Finally, Virginia Retirement Systems ET AL lifted its position in Western Digital by 29.8% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 45,300 shares of the data storage provider’s stock valued at $4,014,000 after acquiring an additional 10,400 shares during the period. 83.78% of the stock is owned by hedge funds and other institutional investors.
WDC has been the topic of several recent research reports. Susquehanna Bancshares reaffirmed a “positive” rating on shares of Western Digital in a report on Thursday, August 31st. Zacks Investment Research raised shares of Western Digital from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Citigroup increased their target price on shares of Western Digital from $110.00 to $115.00 and gave the company a “buy” rating in a report on Friday, October 27th. Mizuho reaffirmed a “buy” rating and set a $105.00 target price on shares of Western Digital in a report on Sunday, October 8th. Finally, Maxim Group reaffirmed a “buy” rating and set a $108.00 target price on shares of Western Digital in a report on Wednesday, August 30th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and three have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $113.10.
Western Digital 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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