Western Digital Corporation (WDC) EVP Sells $263,330.00 in Stock
Western Digital Corporation (NASDAQ:WDC) EVP Srinivasan Sivaram sold 3,098 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $85.00, for a total value of $263,330.00. Following the completion of the sale, the executive vice president now owns 74,741 shares of the company’s stock, valued at $6,352,985. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Srinivasan Sivaram also recently made the following trade(s):
- On Wednesday, July 5th, Srinivasan Sivaram sold 16,049 shares of Western Digital Corporation stock. The stock was sold at an average price of $85.06, for a total value of $1,365,127.94.
Shares of Western Digital Corporation (WDC) traded up 2.42% during trading on Wednesday, hitting $85.85. The stock had a trading volume of 4,168,680 shares. The stock has a 50 day moving average price of $88.23 and a 200-day moving average price of $84.54. Western Digital Corporation has a one year low of $44.88 and a one year high of $95.77. The stock has a market capitalization of $25.07 billion, a price-to-earnings ratio of 64.07 and a beta of 1.22.
Western Digital Corporation (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, July 27th. The data storage provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the company posted $0.79 EPS. On average, equities research analysts predict that Western Digital Corporation will post $12.54 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a yield of 2.33%. Western Digital Corporation’s dividend payout ratio is currently 156.25%.
Several research firms recently weighed in on WDC. BidaskClub lowered Western Digital Corporation from a “hold” rating to a “sell” rating in a report on Saturday. Stifel Nicolaus restated a “buy” rating and issued a $120.00 target price on shares of Western Digital Corporation in a report on Monday, August 7th. Zacks Investment Research upgraded Western Digital Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. J P Morgan Chase & Co restated an “overweight” rating on shares of Western Digital Corporation in a report on Tuesday, August 1st. Finally, BMO Capital Markets set a $120.00 target price on Western Digital Corporation and gave the stock a “buy” rating in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. Western Digital Corporation currently has an average rating of “Buy” and an average target price of $104.93.
A number of large investors have recently modified their holdings of the company. Arizona State Retirement System raised its stake in shares of Western Digital Corporation by 1.0% in the first quarter. Arizona State Retirement System now owns 71,313 shares of the data storage provider’s stock worth $5,885,000 after buying an additional 700 shares in the last quarter. Hillsdale Investment Management Inc. raised its stake in shares of Western Digital Corporation by 16.9% in the first quarter. Hillsdale Investment Management Inc. now owns 5,610 shares of the data storage provider’s stock worth $463,000 after buying an additional 810 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Western Digital Corporation during the first quarter worth $704,000. Korea Investment CORP raised its stake in shares of Western Digital Corporation by 14.7% in the second quarter. Korea Investment CORP now owns 595,049 shares of the data storage provider’s stock worth $52,721,000 after buying an additional 76,459 shares in the last quarter. Finally, Exane Derivatives raised its stake in shares of Western Digital Corporation by 7,574.0% in the first quarter. Exane Derivatives now owns 35,761 shares of the data storage provider’s stock worth $2,951,000 after buying an additional 35,295 shares in the last quarter. Institutional investors and hedge funds own 81.91% of the company’s stock.
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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