Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its position in shares of Western Digital Corp (NASDAQ:WDC) by 23.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,909 shares of the data storage provider’s stock after selling 7,416 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Western Digital were worth $1,400,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently bought and sold shares of WDC. Ruggie Capital Group purchased a new stake in shares of Western Digital during the 2nd quarter worth approximately $100,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Western Digital by 16,520.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,662 shares of the data storage provider’s stock worth $129,000 after purchasing an additional 1,652 shares during the last quarter. TRUE Private Wealth Advisors purchased a new stake in shares of Western Digital during the 3rd quarter worth approximately $107,000. NEXT Financial Group Inc purchased a new stake in shares of Western Digital during the 3rd quarter worth approximately $109,000. Finally, Qube Research & Technologies Ltd increased its stake in shares of Western Digital by 536.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 2,247 shares of the data storage provider’s stock worth $174,000 after purchasing an additional 1,894 shares during the last quarter. 86.20% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Matthew E. Massengill sold 1,681 shares of the business’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $47.68, for a total transaction of $80,150.08. Following the completion of the transaction, the director now directly owns 17,848 shares in the company, valued at approximately $850,992.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.36% of the stock is owned by insiders.
Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Thursday, October 25th. The data storage provider reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.70 by $0.08. The firm had revenue of $5.03 billion during the quarter, compared to analyst estimates of $5.14 billion. Western Digital had a net margin of 2.46% and a return on equity of 35.37%. Sell-side analysts forecast that Western Digital Corp will post 6.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.22%. Western Digital’s dividend payout ratio (DPR) is currently 14.80%.
A number of research analysts recently weighed in on WDC shares. Citigroup reduced their price objective on shares of Western Digital from $115.00 to $106.00 and set a “buy” rating for the company in a research note on Monday, July 30th. BidaskClub lowered shares of Western Digital from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 2nd. Cowen lowered shares of Western Digital from an “outperform” rating to a “market perform” rating and set a $70.00 price objective for the company. in a research note on Wednesday, August 15th. Benchmark reduced their price objective on shares of Western Digital from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, September 21st. Finally, Royal Bank of Canada reduced their price objective on shares of Western Digital to $68.00 and set a “sector perform” rating for the company in a research note on Monday, October 1st. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $82.50.
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About Western Digital
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.
Further Reading: Institutional Investors
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