Talos Eurisko Asset Management LP Takes Position in Western Digital Corporation $WDC

Talos Eurisko Asset Management LP bought a new stake in Western Digital Corporation (NASDAQ:WDC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 451,000 shares of the data storage provider’s stock, valued at approximately $28,859,000. Western Digital accounts for approximately 6.9% of Talos Eurisko Asset Management LP’s portfolio, making the stock its 4th biggest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Alyeska Investment Group L.P. increased its stake in Western Digital by 130.0% in 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 purchasing an additional 2,842,822 shares during the period. Deutsche Bank AG grew its holdings in shares of Western Digital by 107.1% during the first quarter. Deutsche Bank AG now owns 3,369,331 shares of the data storage provider’s stock worth $136,222,000 after buying an additional 1,742,481 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Western Digital in the 1st quarter valued at about $50,897,000. Westfield Capital Management Co. LP purchased a new stake in Western Digital during the 1st quarter valued at approximately $35,406,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in Western Digital during the 1st quarter worth approximately $22,849,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital Stock Down 5.9%

WDC opened at $152.86 on Wednesday. The company has a market cap of $52.26 billion, a price-to-earnings ratio of 29.68, a PEG ratio of 1.14 and a beta of 1.81. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.08. Western Digital Corporation has a one year low of $28.83 and a one year high of $178.45. The business’s fifty day moving average is $128.54 and its two-hundred day moving average is $87.39.

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

Western Digital Increases Dividend

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

Insider Activity

In related news, insider Cynthia L. Tregillis sold 14,067 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $74.78, for a total transaction of $1,051,930.26. Following the sale, the insider owned 135,351 shares in the company, valued at approximately $10,121,547.78. This trade represents a 9.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Irving Tan sold 20,000 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $150.69, for a total value of $3,013,800.00. Following the completion of the transaction, the chief executive officer owned 645,467 shares of the company’s stock, valued at $97,265,422.23. The trade was a 3.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 51,565 shares of company stock valued at $5,558,681. 0.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on WDC shares. Wells Fargo & Company increased their price target on Western Digital from $150.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Morgan Stanley lifted their target price on shares of Western Digital from $92.00 to $99.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. The Goldman Sachs Group reissued a “neutral” rating and set a $148.00 price target on shares of Western Digital in a report on Friday, October 31st. Cowen reaffirmed a “buy” rating on shares of Western Digital in a report on Friday, October 31st. Finally, UBS Group increased their target price on Western Digital from $135.00 to $145.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $160.74.

Western Digital Profile

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.