Jaffetilchin Investment Partners LLC Has $741,000 Position in Western Digital Corporation (WDC)
Jaffetilchin Investment Partners LLC lowered its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 4.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,358 shares of the data storage provider’s stock after selling 374 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Western Digital Corporation were worth $741,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in WDC. Olstein Capital Management L.P. purchased a new stake in shares of Western Digital Corporation during the second quarter valued at $7,664,000. State of Wisconsin Investment Board increased its stake in shares of Western Digital Corporation by 15.6% in the second quarter. State of Wisconsin Investment Board now owns 332,305 shares of the data storage provider’s stock valued at $29,442,000 after buying an additional 44,752 shares during the period. Wrapmanager Inc. increased its stake in shares of Western Digital Corporation by 1.7% in the second quarter. Wrapmanager Inc. now owns 12,883 shares of the data storage provider’s stock valued at $1,141,000 after buying an additional 218 shares during the period. LMR Partners LLP increased its stake in shares of Western Digital Corporation by 44.7% in the second quarter. LMR Partners LLP now owns 10,323 shares of the data storage provider’s stock valued at $915,000 after buying an additional 3,188 shares during the period. Finally, Shufro Rose & Co. LLC increased its stake in shares of Western Digital Corporation by 16.6% in the second quarter. Shufro Rose & Co. LLC now owns 7,374 shares of the data storage provider’s stock valued at $653,000 after buying an additional 1,051 shares during the period. 81.91% of the stock is owned by institutional investors.
Shares of Western Digital Corporation (NASDAQ WDC) opened at 83.82 on Wednesday. Western Digital Corporation has a 12-month low of $43.60 and a 12-month high of $95.77. The stock has a 50 day moving average of $88.40 and a 200-day moving average of $84.53. The company has a market capitalization of $24.48 billion, a P/E ratio of 62.55 and a beta of 1.22.
Western Digital Corporation (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.51 by $0.42. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.82 billion. Western Digital Corporation had a net margin of 2.08% and a return on equity of 21.23%. The company’s revenue for the quarter was up 38.5% on a year-over-year basis. During the same period last year, the firm posted $0.79 earnings per share. Equities research analysts forecast that Western Digital Corporation will post $12.54 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Thursday, September 28th. Western Digital Corporation’s dividend payout ratio is currently 156.25%.
Several brokerages recently weighed in on WDC. BidaskClub downgraded shares of Western Digital Corporation from a “hold” rating to a “sell” rating in a research report on Saturday. Stifel Nicolaus restated a “buy” rating and issued a $120.00 target price on shares of Western Digital Corporation in a report on Monday, August 7th. Zacks Investment Research upgraded shares of Western Digital Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. J P Morgan Chase & Co restated an “overweight” rating on shares of Western Digital Corporation in a report on Tuesday, August 1st. Finally, BMO Capital Markets set a $120.00 target price on shares of Western Digital Corporation and gave the stock a “buy” rating in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $104.93.
In related news, EVP Manish H. Bhatia sold 2,762 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $84.79, for a total transaction of $234,189.98. Following the completion of the sale, the executive vice president now directly owns 75,467 shares in the company, valued at $6,398,846.93. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Charles Ray sold 524 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $92.30, for a total transaction of $48,365.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 122,567 shares of company stock worth $10,869,788. Insiders own 0.46% of the company’s stock.
About Western Digital Corporation
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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