Voya Investment Management LLC Purchases 55,464 Shares of Western Digital Corporation (WDC)
Voya Investment Management LLC lifted its position in shares of Western Digital Corporation (NASDAQ:WDC) by 31.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 234,341 shares of the data storage provider’s stock after buying an additional 55,464 shares during the period. Voya Investment Management LLC owned about 0.08% of Western Digital Corporation worth $20,763,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Veritable L.P. lifted its position in shares of Western Digital Corporation by 7.7% in the second quarter. Veritable L.P. now owns 6,459 shares of the data storage provider’s stock worth $572,000 after purchasing an additional 463 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Western Digital Corporation by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,003,895 shares of the data storage provider’s stock worth $266,233,000 after purchasing an additional 24,920 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in Western Digital Corporation by 33.2% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 393,045 shares of the data storage provider’s stock worth $34,823,000 after purchasing an additional 98,021 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Western Digital Corporation during the second quarter worth $12,329,000. Finally, Parametric Portfolio Associates LLC boosted its holdings in Western Digital Corporation by 47.7% during the second quarter. Parametric Portfolio Associates LLC now owns 871,307 shares of the data storage provider’s stock worth $77,198,000 after purchasing an additional 281,553 shares during the last quarter. 82.34% of the stock is owned by institutional investors.
Several equities analysts have recently weighed in on WDC shares. Maxim Group restated a “buy” rating and issued a $108.00 price objective on shares of Western Digital Corporation in a report on Wednesday, June 21st. UBS AG reaffirmed a “neutral” rating and issued a $92.00 target price (up previously from $90.00) on shares of Western Digital Corporation in a research report on Wednesday, June 28th. Robert W. Baird lowered Western Digital Corporation from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $120.00 to $93.00 in a report on Monday. Guggenheim reiterated a “buy” rating and set a $125.00 target price on shares of Western Digital Corporation in a report on Wednesday, June 14th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Western Digital Corporation in a research report on Monday, June 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. Western Digital Corporation currently has a consensus rating of “Buy” and an average price target of $111.44.
In related news, insider Michael D. Cordano sold 9,404 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $88.71, for a total transaction of $834,228.84. Following the transaction, the insider now directly owns 75,385 shares of the company’s stock, valued at approximately $6,687,403.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Srinivasan Sivaram sold 16,049 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $85.06, for a total value of $1,365,127.94. The disclosure for this sale can be found here. Insiders sold a total of 144,295 shares of company stock worth $12,689,056 in the last three months. Insiders own 0.31% of the company’s stock.
Western Digital Corporation (WDC) opened at 86.40 on Monday. Western Digital Corporation has a 52 week low of $52.10 and a 52 week high of $95.77. The company has a market cap of $25.48 billion, a P/E ratio of 64.48 and a beta of 1.24. The company has a 50-day moving average of $86.12 and a 200 day moving average of $86.39.
Western Digital Corporation (NASDAQ:WDC) last announced its earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.42. Western Digital Corporation had a net margin of 2.08% and a return on equity of 21.23%. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period in the previous year, the business posted $0.79 earnings per share. Western Digital Corporation’s revenue for the quarter was up 38.5% on a year-over-year basis. On average, equities analysts forecast that Western Digital Corporation will post $12.34 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Thursday, September 28th. Western Digital Corporation’s payout ratio is 156.25%.
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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