Western Digital Corporation (NASDAQ:WDC) EVP Jacqueline Demaria sold 14,358 shares of Western Digital Corporation stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $84.53, for a total transaction of $1,213,681.74. Following the transaction, the executive vice president now owns 75,772 shares of the company’s stock, valued at $6,405,007.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Western Digital Corporation (NASDAQ WDC) traded up 0.87% on Friday, hitting $83.20. 3,002,888 shares of the company’s stock traded hands. The stock has a market cap of $24.29 billion, a PE ratio of 62.09 and a beta of 1.22. The stock has a 50-day moving average of $87.91 and a 200-day moving average of $84.53. Western Digital Corporation has a one year low of $45.25 and a one year high of $95.77.
Western Digital Corporation (NASDAQ:WDC) last released its quarterly earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.42. The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.82 billion. Western Digital Corporation had a net margin of 2.08% and a return on equity of 21.23%. The business’s revenue was up 38.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 EPS. On average, equities analysts forecast that Western Digital Corporation will post $12.54 earnings per share 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 paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, September 28th. Western Digital Corporation’s dividend payout ratio (DPR) is 156.25%.
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Several large investors have recently added to or reduced their stakes in the stock. Regent Investment Management LLC increased its stake in Western Digital Corporation by 34.0% in the first quarter. Regent Investment Management LLC now owns 30,895 shares of the data storage provider’s stock worth $2,550,000 after buying an additional 7,845 shares during the period. Cornerstone Financial Partners LLC increased its stake in shares of Western Digital Corporation by 447.8% in the first quarter. Cornerstone Financial Partners LLC now owns 23,681 shares of the data storage provider’s stock valued at $1,963,000 after buying an additional 19,358 shares during the last quarter. Winslow Evans & Crocker Inc. increased its stake in shares of Western Digital Corporation by 55.1% in the first quarter. Winslow Evans & Crocker Inc. now owns 14,234 shares of the data storage provider’s stock valued at $1,175,000 after buying an additional 5,056 shares during the last quarter. Honkamp Krueger Financial Services Inc. increased its stake in shares of Western Digital Corporation by 3.0% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 4,546 shares of the data storage provider’s stock valued at $375,000 after buying an additional 132 shares during the last quarter. Finally, Daiwa SB Investments Ltd. acquired a new stake in shares of Western Digital Corporation during the first quarter valued at $4,115,000. 81.91% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on the stock. UBS AG reiterated a “neutral” rating and set a $92.00 target price (up from $90.00) on shares of Western Digital Corporation in a report on Wednesday, June 28th. Jefferies Group LLC reiterated a “hold” rating and set a $90.00 target price on shares of Western Digital Corporation in a report on Friday. BidaskClub upgraded shares of Western Digital Corporation from a “sell” rating to a “hold” rating in a report on Friday. J P Morgan Chase & Co reiterated an “overweight” rating on shares of Western Digital Corporation in a report on Tuesday, August 1st. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $120.00 target price on shares of Western Digital Corporation in a report on Monday, August 7th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $104.66.
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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