Semanteon Capital Management LP Acquires Shares of 4,760 Western Digital Corporation $WDC

Semanteon Capital Management LP bought a new position in shares of Western Digital Corporation (NASDAQ:WDC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,760 shares of the data storage provider’s stock, valued at approximately $571,000. Western Digital makes up 0.7% of Semanteon Capital Management LP’s holdings, making the stock its 18th largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WDC. SYM FINANCIAL Corp purchased a new stake in Western Digital during the 2nd quarter worth $225,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Western Digital by 12.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,317 shares of the data storage provider’s stock worth $6,281,000 after purchasing an additional 5,731 shares during the last quarter. LBP AM SA purchased a new position in shares of Western Digital during the 3rd quarter valued at approximately $641,000. Moloney Securities Asset Management LLC acquired a new stake in shares of Western Digital during the third quarter worth approximately $636,000. Finally, Resona Asset Management Co. Ltd. increased its stake in shares of Western Digital by 7.1% in the second quarter. Resona Asset Management Co. Ltd. now owns 118,888 shares of the data storage provider’s stock worth $7,594,000 after buying an additional 7,913 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insider Activity at Western Digital

In other news, Director Roxanne Oulman sold 1,800 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $154.42, for a total transaction of $277,956.00. Following the completion of the transaction, the director owned 3,863 shares in the company, valued at approximately $596,524.46. This represents a 31.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew E. Massengill sold 36,926 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $260.43, for a total transaction of $9,616,638.18. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 70,522 shares of company stock valued at $17,661,708. Company insiders own 0.18% of the company’s stock.

Western Digital Stock Performance

Shares of NASDAQ WDC opened at $285.52 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The firm’s 50-day moving average price is $227.88 and its two-hundred day moving average price is $158.98. Western Digital Corporation has a 52-week low of $28.83 and a 52-week high of $309.90. The stock has a market capitalization of $96.80 billion, a P/E ratio of 28.64, a P/E/G ratio of 0.66 and a beta of 1.80.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, January 29th. The data storage provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.20. The business had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Western Digital had a return on equity of 41.53% and a net margin of 35.52%.The business’s quarterly revenue was up 25.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.77 EPS. As a group, sell-side analysts forecast that Western Digital Corporation will post 4.89 earnings per share for the current year.

Western Digital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Thursday, March 5th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $0.50 annualized dividend and a dividend yield of 0.2%. Western Digital’s payout ratio is 5.02%.

Analyst Ratings Changes

A number of research analysts have commented on WDC shares. Truist Financial set a $310.00 price objective on shares of Western Digital in a research note on Tuesday, February 3rd. Susquehanna restated a “neutral” rating and issued a $285.00 target price on shares of Western Digital in a research note on Friday, February 6th. Citigroup lifted their price target on Western Digital to $325.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Weiss Ratings upgraded Western Digital from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 2nd. Finally, China Renaissance assumed coverage on Western Digital in a report on Friday, December 5th. They set a “buy” rating and a $193.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Western Digital has an average rating of “Moderate Buy” and an average price target of $265.58.

About Western Digital

Western Digital Corporation is a global data storage company that designs, manufactures and sells a broad range of storage devices and systems for personal, enterprise and cloud applications. Headquartered in San Jose, California, the company develops hard disk drives (HDDs), solid-state drives (SSDs), NAND flash components and finished storage products used in PCs, external storage, servers, network-attached storage (NAS) and embedded systems.

Its product portfolio spans consumer and commercial markets, including internal and external HDDs and SSDs, removable flash memory products and storage platforms for data center and enterprise environments.