Intrepid Capital Management Inc. cut its stake in Western Digital Corp (NASDAQ:WDC) by 7.6% in the first quarter, Holdings Channel reports. The institutional investor owned 6,612 shares of the data storage provider’s stock after selling 540 shares during the period. Intrepid Capital Management Inc.’s holdings in Western Digital were worth $318,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. First Interstate Bank raised its holdings in shares of Western Digital by 159.2% in the first quarter. First Interstate Bank now owns 578 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 355 shares in the last quarter. Ropes Wealth Advisors LLC raised its holdings in shares of Western Digital by 706.0% in the fourth quarter. Ropes Wealth Advisors LLC now owns 806 shares of the data storage provider’s stock valued at $30,000 after acquiring an additional 706 shares in the last quarter. AdvisorNet Financial Inc raised its holdings in shares of Western Digital by 2,500.0% in the first quarter. AdvisorNet Financial Inc now owns 624 shares of the data storage provider’s stock valued at $30,000 after acquiring an additional 600 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of Western Digital by 57.0% in the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 650 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 236 shares in the last quarter. Finally, Investors Research Corp bought a new stake in shares of Western Digital in the first quarter valued at about $36,000. Institutional investors own 87.66% of the company’s stock.

Several research firms recently weighed in on WDC. Royal Bank of Canada began coverage on Western Digital in a report on Friday, March 29th. They issued a “market perform” rating for the company. Bank of America restated a “buy” rating and issued a $60.00 price objective (up from $55.00) on shares of Western Digital in a report on Wednesday, April 24th. Robert W. Baird downgraded Western Digital from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $50.00 to $40.00 in a report on Friday, April 26th. Loop Capital decreased their price objective on Western Digital to $45.00 and set a “hold” rating for the company in a report on Tuesday, April 30th. Finally, UBS Group lifted their price objective on Western Digital from $43.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, April 30th. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twelve have given a buy rating to the stock. Western Digital currently has a consensus rating of “Hold” and an average target price of $60.42.

Shares of WDC stock traded down $1.31 during trading hours on Friday, reaching $36.03. 118,285 shares of the company’s stock were exchanged, compared to its average volume of 4,889,186. Western Digital Corp has a 1 year low of $33.83 and a 1 year high of $83.78. The firm has a market capitalization of $10.62 billion, a price-to-earnings ratio of 2.68, a PEG ratio of 4.50 and a beta of 1.66. 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 (NASDAQ:WDC) last issued its quarterly earnings results on Monday, April 29th. The data storage provider reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.29). Western Digital had a return on equity of 19.87% and a net margin of 1.10%. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter in the previous year, the firm posted $3.63 EPS. Western Digital’s revenue was down 26.7% on a year-over-year basis. As a group, equities analysts forecast that Western Digital Corp will post 4.02 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.55%. Western Digital’s payout ratio is 14.80%.

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Western Digital Company Profile

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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Institutional Ownership by Quarter for Western Digital (NASDAQ:WDC)

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