Commonwealth Equity Services LLC grew its position in Western Digital Corp (NASDAQ:WDC) by 52.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,266 shares of the data storage provider’s stock after acquiring an additional 12,419 shares during the period. Commonwealth Equity Services LLC’s holdings in Western Digital were worth $2,123,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Ruggie Capital Group bought a new position in shares of Western Digital in the second quarter valued at approximately $100,000. TRUE Private Wealth Advisors bought a new position in shares of Western Digital in the third quarter valued at approximately $107,000. NEXT Financial Group Inc bought a new position in shares of Western Digital in the third quarter valued at approximately $109,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Western Digital by 16,520.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,662 shares of the data storage provider’s stock valued at $129,000 after acquiring an additional 1,652 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in shares of Western Digital by 536.5% in the second quarter. Qube Research & Technologies Ltd now owns 2,247 shares of the data storage provider’s stock valued at $174,000 after acquiring an additional 1,894 shares during the last quarter. Institutional investors own 86.20% of the company’s stock.
In other Western Digital news, Director Matthew E. Massengill sold 1,681 shares of the company’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 sale, the director now owns 17,848 shares in the company, valued at approximately $850,992.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.36% of the company’s stock.
Shares of Western Digital stock opened at $47.34 on Monday. The firm has a market cap of $13.70 billion, a price-to-earnings ratio of 3.50, a price-to-earnings-growth ratio of 0.40 and a beta of 1.17. Western Digital Corp has a 52 week low of $40.58 and a 52 week high of $106.96. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.41 and a quick ratio of 1.70.
Western Digital (NASDAQ:WDC) last issued its earnings results on Thursday, October 25th. The data storage provider reported $2.78 EPS for the quarter, beating the consensus estimate of $2.70 by $0.08. The company had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Western Digital had a net margin of 2.46% and a return on equity of 35.37%. As a group, sell-side analysts forecast that Western Digital Corp will post 6.19 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 14th. Shareholders of record on Friday, December 28th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend is Thursday, December 27th. Western Digital’s payout ratio is 14.80%.
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Western Digital Company 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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