Optimum Investment Advisors Sells 350 Shares of Western Digital Corporation (WDC)
Optimum Investment Advisors lowered its position in shares of Western Digital Corporation (NASDAQ:WDC) by 5.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,285 shares of the data storage provider’s stock after selling 350 shares during the quarter. Optimum Investment Advisors’ holdings in Western Digital Corporation were worth $557,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in WDC. Vanguard Group Inc. raised its holdings in Western Digital Corporation by 4.2% during the 2nd quarter. Vanguard Group Inc. now owns 29,942,849 shares of the data storage provider’s stock worth $2,652,936,000 after purchasing an additional 1,201,394 shares during the last quarter. Iridian Asset Management LLC CT boosted its stake in shares of Western Digital Corporation by 1.8% in the 2nd quarter. Iridian Asset Management LLC CT now owns 5,641,706 shares of the data storage provider’s stock valued at $499,855,000 after purchasing an additional 100,195 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Western Digital Corporation by 10.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,443,866 shares of the data storage provider’s stock valued at $393,778,000 after purchasing an additional 405,293 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Western Digital Corporation by 0.5% in the 2nd quarter. Northern Trust Corp now owns 3,191,625 shares of the data storage provider’s stock valued at $282,778,000 after purchasing an additional 16,436 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Western Digital Corporation by 9.6% in the 1st quarter. Geode Capital Management LLC now owns 3,031,364 shares of the data storage provider’s stock valued at $249,848,000 after purchasing an additional 264,706 shares during the last quarter. Institutional investors own 82.34% of the company’s stock.
A number of research firms recently weighed in on WDC. UBS AG reissued an “add” rating on shares of Western Digital Corporation in a research note on Wednesday, September 20th. Guggenheim reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Western Digital Corporation in a research note on Wednesday, June 14th. Aegis assumed coverage on shares of Western Digital Corporation in a report on Tuesday, June 13th. They set a “buy” rating and a $130.00 target price for the company. Vetr cut shares of Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $96.66 target price for the company. in a research report on Tuesday, June 13th. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Western Digital Corporation in a research report on Monday, June 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Western Digital Corporation presently has a consensus rating of “Buy” and an average target price of $111.44.
In other news, insider Michael D. Cordano sold 9,404 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $88.71, for a total transaction of $834,228.84. Following the completion of the transaction, the insider now directly owns 75,385 shares of the company’s stock, valued at approximately $6,687,403.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark P. Long sold 17,028 shares of the stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $93.84, for a total transaction of $1,597,907.52. Following the transaction, the chief financial officer now directly owns 53,551 shares of the company’s stock, valued at $5,025,225.84. The disclosure for this sale can be found here. Insiders sold a total of 144,295 shares of company stock valued at $12,689,056 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.
Western Digital Corporation (WDC) traded down 2.58% during mid-day trading on Monday, hitting $84.17. 2,530,348 shares of the stock were exchanged. The stock’s 50-day moving average is $86.12 and its 200 day moving average is $86.39. The company has a market capitalization of $24.82 billion, a PE ratio of 62.81 and a beta of 1.24. Western Digital Corporation has a 52 week low of $52.10 and a 52 week high of $95.77.
Western Digital Corporation (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, July 27th. The data storage provider reported $2.93 EPS for the quarter, topping the Zacks’ consensus estimate of $2.51 by $0.42. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.82 billion. Western Digital Corporation had a return on equity of 21.23% and a net margin of 2.08%. Western Digital Corporation’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same period last year, the company posted $0.79 earnings per share. On average, analysts anticipate that Western Digital Corporation will post $12.34 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a yield of 2.31%. Western Digital Corporation’s dividend payout ratio (DPR) is presently 156.25%.
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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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