Bbva Compass Bancshares Inc. Has $215,000 Stake in Western Digital Corporation (NASDAQ:WDC)
Bbva Compass Bancshares Inc. lowered its stake in Western Digital Corporation (NASDAQ:WDC) by 18.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,422 shares of the data storage provider’s stock after selling 560 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Western Digital Corporation were worth $215,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Western Digital Corporation by 4.5% in the first quarter. Vanguard Group Inc. now owns 28,741,455 shares of the data storage provider’s stock valued at $2,372,032,000 after buying an additional 1,250,528 shares in the last quarter. Iridian Asset Management LLC CT raised its position in shares of Western Digital Corporation by 244.0% in the first quarter. Iridian Asset Management LLC CT now owns 5,541,511 shares of the data storage provider’s stock valued at $457,341,000 after buying an additional 3,930,465 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Western Digital Corporation by 10.4% in the first quarter. Ameriprise Financial Inc. now owns 4,038,573 shares of the data storage provider’s stock valued at $333,102,000 after buying an additional 380,404 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Western Digital Corporation by 9.6% in the first quarter. Geode Capital Management LLC now owns 3,031,364 shares of the data storage provider’s stock valued at $249,848,000 after buying an additional 264,706 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Western Digital Corporation by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,978,975 shares of the data storage provider’s stock valued at $245,876,000 after buying an additional 7,910 shares in the last quarter. 82.39% of the stock is owned by institutional investors and hedge funds.
Western Digital Corporation (NASDAQ WDC) opened at 80.99 on Thursday. Western Digital Corporation has a 1-year low of $43.29 and a 1-year high of $95.77. The firm’s 50-day moving average price is $89.59 and its 200-day moving average price is $84.36. The firm has a market cap of $23.65 billion, a P/E ratio of 60.44 and a beta of 1.22. Western Digital Corporation also was the recipient of some unusual options trading activity on Monday. Traders bought 6,330 call options on the company. This represents an increase of approximately 292% compared to the typical daily volume of 1,613 call options.
Western Digital Corporation (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, July 27th. The data storage provider reported $2.93 EPS for the quarter, beating the Zacks’ consensus estimate of $2.51 by $0.42. Western Digital Corporation had a net margin of 2.08% and a return on equity of 21.23%. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the prior year, the company posted $0.79 earnings per share. The business’s revenue for the quarter was up 38.5% on a year-over-year basis. Equities research analysts anticipate that Western Digital Corporation will post $12.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Thursday, September 28th. Western Digital Corporation’s payout ratio is 156.25%.
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WDC has been the subject of several analyst reports. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Western Digital Corporation in a research report on Monday, June 12th. BidaskClub raised Western Digital Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. Vetr raised Western Digital Corporation from a “buy” rating to a “strong-buy” rating and set a $97.97 target price for the company in a research report on Monday, May 22nd. Barclays PLC raised their target price on Western Digital Corporation to $131.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. Finally, Benchmark Co. reiterated a “buy” rating and set a $135.00 price target on shares of Western Digital Corporation in a report on Wednesday, May 24th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $104.93.
In other news, EVP Jacqueline Demaria sold 14,358 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $84.53, for a total transaction of $1,213,681.74. Following the sale, the executive vice president now owns 75,772 shares in the company, valued at $6,405,007.16. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Srinivasan Sivaram sold 16,049 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $85.06, for a total transaction of $1,365,127.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 126,966 shares of company stock worth $11,263,675. Corporate insiders own 0.46% of the company’s stock.
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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