Western Digital Corp (WDC) Shares Sold by AMP Capital Investors Ltd
AMP Capital Investors Ltd decreased its holdings in Western Digital Corp (NASDAQ:WDC) by 6.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,383 shares of the data storage provider’s stock after selling 12,243 shares during the period. AMP Capital Investors Ltd’s holdings in Western Digital were worth $9,639,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of Western Digital by 22.3% in the 3rd quarter. BlackRock Inc. now owns 25,731,691 shares of the data storage provider’s stock worth $1,506,333,000 after purchasing an additional 4,690,847 shares in the last quarter. LSV Asset Management increased its holdings in shares of Western Digital by 8.9% in the 3rd quarter. LSV Asset Management now owns 3,699,443 shares of the data storage provider’s stock worth $216,565,000 after purchasing an additional 301,197 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Western Digital by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,060,836 shares of the data storage provider’s stock worth $236,931,000 after purchasing an additional 49,960 shares in the last quarter. FMR LLC increased its holdings in shares of Western Digital by 177.7% in the 3rd quarter. FMR LLC now owns 3,035,818 shares of the data storage provider’s stock worth $177,716,000 after purchasing an additional 1,942,543 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Western Digital by 4.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,000,178 shares of the data storage provider’s stock worth $175,631,000 after purchasing an additional 128,343 shares in the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.
WDC has been the subject of several research analyst reports. Mizuho lowered Western Digital from a “buy” rating to a “neutral” rating in a report on Monday, October 1st. TheStreet lowered Western Digital from a “b-” rating to a “c+” rating in a report on Friday, October 12th. Longbow Research set a $100.00 price objective on Western Digital and gave the stock a “buy” rating in a report on Thursday, September 6th. BidaskClub raised Western Digital from a “strong sell” rating to a “sell” rating in a report on Saturday, November 3rd. Finally, Wells Fargo & Co cut their price objective on Western Digital from $115.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, October 26th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $81.88.
Western Digital (NASDAQ:WDC) last released its earnings results on Thursday, October 25th. The data storage provider reported $2.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.70 by $0.08. The company had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $5.14 billion. Western Digital had a return on equity of 35.37% and a net margin of 2.46%. On average, equities research analysts anticipate that Western Digital Corp will post 6.19 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 14th. Investors of record on Friday, December 28th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, December 27th. This represents a $2.00 annualized dividend and a yield of 4.65%. Western Digital’s dividend payout ratio (DPR) is presently 14.80%.
In related news, Director Matthew E. Massengill sold 1,681 shares of Western Digital stock in a transaction on Monday, November 5th. The stock was sold at an average price of $47.68, for a total transaction of $80,150.08. Following the transaction, the director now directly owns 17,848 shares in the company, valued at $850,992.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.36% of the stock is currently owned by insiders.
Western Digital Profile
Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.
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