World Asset Management Inc increased its holdings in Western Digital Corp (NASDAQ:WDC) by 20.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,288 shares of the data storage provider’s stock after acquiring an additional 3,823 shares during the quarter. World Asset Management Inc’s holdings in Western Digital were worth $1,071,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in the stock. Winslow Evans & Crocker Inc. increased its holdings in Western Digital by 7.1% in the 1st quarter. Winslow Evans & Crocker Inc. now owns 7,350 shares of the data storage provider’s stock worth $356,000 after buying an additional 490 shares in the last quarter. NuWave Investment Management LLC grew its stake in shares of Western Digital by 4,323.7% during the 4th quarter. NuWave Investment Management LLC now owns 7,830 shares of the data storage provider’s stock valued at $290,000 after purchasing an additional 7,653 shares during the period. Empowered Funds LLC bought a new stake in shares of Western Digital during the 4th quarter valued at about $2,033,000. Vaughan David Investments LLC IL grew its stake in shares of Western Digital by 27.8% during the 4th quarter. Vaughan David Investments LLC IL now owns 265,485 shares of the data storage provider’s stock valued at $9,815,000 after purchasing an additional 57,750 shares during the period. Finally, Prudential Financial Inc. grew its stake in shares of Western Digital by 13.4% during the 4th quarter. Prudential Financial Inc. now owns 917,420 shares of the data storage provider’s stock valued at $33,917,000 after purchasing an additional 108,402 shares during the period. 93.41% of the stock is owned by institutional investors.
In other Western Digital news, insider Mark P. Long sold 17,623 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $50.00, for a total value of $881,150.00. Following the transaction, the insider now owns 158,744 shares of the company’s stock, valued at approximately $7,937,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.36% of the company’s stock.
A number of research firms have issued reports on WDC. Stifel Nicolaus cut their price target on Western Digital from $60.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, January 25th. BidaskClub cut Western Digital from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th. ValuEngine cut Western Digital from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Maxim Group reaffirmed a “buy” rating and set a $126.00 price objective on shares of Western Digital in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada started coverage on Western Digital in a research report on Friday, March 29th. They set a “market perform” rating on the stock. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $60.42.
Shares of NASDAQ WDC traded down $0.51 during trading hours on Friday, hitting $40.98. 3,785,500 shares of the company traded hands, compared to its average volume of 6,859,875. The company has a market cap of $12.10 billion, a P/E ratio of 3.03 and a beta of 1.49. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.30 and a current ratio of 2.11. Western Digital Corp has a 12 month low of $33.83 and a 12 month high of $87.92.
Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Monday, April 29th. The data storage provider reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.29). The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.68 billion. Western Digital had a net margin of 1.10% and a return on equity of 19.87%. The business’s revenue was down 26.7% compared to the same quarter last year. During the same period last year, the company earned $3.63 EPS. As a group, equities analysts predict that Western Digital Corp will post 4.07 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.88%. The ex-dividend date is Thursday, June 27th. Western Digital’s dividend payout ratio (DPR) is presently 14.80%.
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About Western Digital
Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.
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