22,400 Shares in Western Digital Corporation (WDC) Acquired by Quotient Investors LLC
Quotient Investors LLC bought a new position in Western Digital Corporation (NASDAQ:WDC) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 22,400 shares of the data storage provider’s stock, valued at approximately $1,935,000. Western Digital Corporation accounts for approximately 1.3% of Quotient Investors LLC’s investment portfolio, making the stock its 18th largest holding.
Several other large investors also recently bought and sold shares of the company. Capital World Investors purchased a new position in Western Digital Corporation during the 2nd quarter valued at about $1,019,202,000. Vanguard Group Inc. lifted its position in Western Digital Corporation by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 28,741,455 shares of the data storage provider’s stock valued at $2,372,032,000 after acquiring an additional 1,250,528 shares during the period. Janus Henderson Group PLC lifted its position in Western Digital Corporation by 140.4% during the 2nd quarter. Janus Henderson Group PLC now owns 1,994,833 shares of the data storage provider’s stock valued at $176,746,000 after acquiring an additional 1,164,954 shares during the period. Schroder Investment Management Group lifted its position in Western Digital Corporation by 24,087.4% during the 2nd quarter. Schroder Investment Management Group now owns 902,431 shares of the data storage provider’s stock valued at $82,709,000 after acquiring an additional 898,700 shares during the period. Finally, Discovery Capital Management LLC CT lifted its position in Western Digital Corporation by 98.9% during the 2nd quarter. Discovery Capital Management LLC CT now owns 1,576,089 shares of the data storage provider’s stock valued at $139,641,000 after acquiring an additional 783,589 shares during the period. 82.29% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have weighed in on the stock. UBS AG restated a “neutral” rating and set a $92.00 price objective (up from $90.00) on shares of Western Digital Corporation in a research note on Wednesday, June 28th. BidaskClub upgraded shares of Western Digital Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday. Jefferies Group LLC restated a “hold” rating and set a $90.00 price objective on shares of Western Digital Corporation in a research note on Friday, August 18th. Vetr upgraded shares of Western Digital Corporation from a “buy” rating to a “strong-buy” rating and set a $98.49 price objective for the company in a research note on Monday. Finally, J P Morgan Chase & Co restated an “overweight” rating on shares of Western Digital Corporation in a research note on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-four have given a buy rating and three have assigned a strong buy rating to the stock. Western Digital Corporation currently has an average rating of “Buy” and an average target price of $111.50.
Shares of Western Digital Corporation (NASDAQ WDC) traded up 1.03% during trading on Friday, hitting $86.36. The stock had a trading volume of 2,289,544 shares. Western Digital Corporation has a 12-month low of $52.62 and a 12-month high of $95.77. The stock has a 50-day moving average of $86.64 and a 200 day moving average of $87.56. The firm has a market cap of $25.47 billion, a price-to-earnings ratio of 64.45 and a beta of 1.24.
Western Digital Corporation (NASDAQ:WDC) last posted its 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. Western Digital Corporation had a return on equity of 21.23% and a net margin of 2.08%. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter last year, the firm earned $0.79 earnings per share. The company’s revenue for the quarter was up 38.5% compared to the same quarter last year. On average, analysts predict that Western Digital Corporation will post $12.40 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were paid a $0.50 dividend. The ex-dividend date was Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.34%. Western Digital Corporation’s dividend payout ratio (DPR) is currently 156.25%.
In other news, insider Michael D. Cordano sold 9,404 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $88.71, for a total value of $834,228.84. Following the completion of the sale, the insider now owns 75,385 shares in the company, valued at $6,687,403.35. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Srinivasan Sivaram sold 3,098 shares of the stock in a transaction dated Wednesday, August 16th. The shares were 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 approximately $6,352,985. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,679 shares of company stock valued at $6,561,639. Insiders own 0.31% of the company’s stock.
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Western Digital Corporation Profile
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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