Kimberly Alexy Sells 1,768 Shares of Western Digital (NASDAQ:WDC) Stock

Western Digital Corporation (NASDAQ:WDC) Director Kimberly Alexy sold 1,768 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $154.00, for a total value of $272,272.00. Following the sale, the director owned 3,585 shares in the company, valued at approximately $552,090. The trade was a 33.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Western Digital Trading Up 1.5%

WDC traded up $2.33 during trading on Wednesday, hitting $157.74. The company’s stock had a trading volume of 4,847,408 shares, compared to its average volume of 8,402,505. The firm has a market capitalization of $53.93 billion, a P/E ratio of 30.63, a PEG ratio of 1.14 and a beta of 1.81. Western Digital Corporation has a twelve month low of $28.83 and a twelve month high of $178.45. The stock’s fifty day moving average price is $133.45 and its 200-day moving average price is $91.04. The company has a quick ratio of 0.84, a current ratio of 1.08 and a debt-to-equity ratio of 0.47.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Monday, April 7th. The data storage provider reported $1.78 earnings per share for the quarter. Western Digital had a net margin of 14.13% and a return on equity of 24.93%. The company had revenue of $4.10 billion during the quarter. Analysts anticipate that Western Digital Corporation will post 4.89 EPS for the current year.

Western Digital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, December 4th. This is a positive change from Western Digital’s previous quarterly dividend of $0.10. Western Digital’s dividend payout ratio is presently 7.28%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Sanford C. Bernstein upgraded Western Digital to a “hold” rating in a report on Tuesday, September 16th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $148.00 target price on shares of Western Digital in a report on Friday, October 31st. JPMorgan Chase & Co. boosted their price target on shares of Western Digital from $94.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Wedbush raised their price objective on shares of Western Digital from $90.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Finally, Cantor Fitzgerald boosted their target price on shares of Western Digital from $160.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Western Digital has an average rating of “Moderate Buy” and a consensus price target of $162.16.

Hedge Funds Weigh In On Western Digital

Hedge funds and other institutional investors have recently bought and sold shares of the stock. WCM Investment Management LLC bought a new position in Western Digital in the third quarter valued at $791,317,000. Norges Bank purchased a new stake in Western Digital in the 2nd quarter worth approximately $220,680,000. Fred Alger Management LLC increased its position in shares of Western Digital by 4,923.9% during the third quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider’s stock valued at $409,049,000 after buying an additional 3,339,225 shares during the period. Soroban Capital Partners LP lifted its stake in shares of Western Digital by 1,926.3% in the 2nd quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock valued at $195,882,000 after purchasing an additional 2,910,062 shares during the period. Finally, Alyeska Investment Group L.P. lifted its position in Western Digital by 130.0% during the first quarter. Alyeska Investment Group L.P. now owns 5,029,359 shares of the data storage provider’s stock valued at $203,337,000 after buying an additional 2,842,822 shares during the period. Hedge funds and other institutional investors own 92.51% of the company’s stock.

About Western Digital

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.