Pictet Asset Management Ltd. lessened its holdings in Western Digital Corp (NASDAQ:WDC) by 1.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 146,157 shares of the data storage provider’s stock after selling 1,600 shares during the period. Pictet Asset Management Ltd.’s holdings in Western Digital were worth $8,717,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Western Digital by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 32,104,981 shares of the data storage provider’s stock worth $1,526,591,000 after buying an additional 532,800 shares during the period. Invesco Ltd. increased its position in Western Digital by 36.5% during the 2nd quarter. Invesco Ltd. now owns 6,340,189 shares of the data storage provider’s stock worth $301,475,000 after buying an additional 1,696,513 shares during the period. Price T Rowe Associates Inc. MD increased its position in Western Digital by 8.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,637,268 shares of the data storage provider’s stock worth $220,502,000 after buying an additional 350,546 shares during the period. Lyrical Asset Management LP increased its position in Western Digital by 3.2% during the 2nd quarter. Lyrical Asset Management LP now owns 4,548,508 shares of the data storage provider’s stock worth $216,282,000 after buying an additional 141,393 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in Western Digital by 9.6% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 3,912,366 shares of the data storage provider’s stock worth $186,033,000 after buying an additional 343,336 shares during the period. Institutional investors and hedge funds own 84.44% of the company’s stock.

Several research analysts have weighed in on WDC shares. Craig Hallum increased their price objective on Western Digital from $64.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Stifel Nicolaus cut Western Digital from a “buy” rating to a “hold” rating and set a $53.00 price objective on the stock. in a research report on Monday. Mizuho increased their price objective on Western Digital from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Benchmark reiterated a “sell” rating and set a $46.00 price objective on shares of Western Digital in a research report on Friday, September 27th. Finally, BidaskClub cut Western Digital from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 21st. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $62.40.

WDC opened at $48.50 on Tuesday. The firm has a market cap of $14.97 billion, a P/E ratio of 12.73, a price-to-earnings-growth ratio of 15.73 and a beta of 1.79. Western Digital Corp has a 52-week low of $33.83 and a 52-week high of $65.31. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.22 and a current ratio of 1.98. The business’s fifty day moving average is $54.08 and its 200-day moving average is $52.09.

Western Digital (NASDAQ:WDC) last released its earnings results on Wednesday, October 30th. The data storage provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.41. The company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.92 billion. Western Digital had a positive return on equity of 3.28% and a negative net margin of 9.89%. Western Digital’s quarterly revenue was down 19.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.04 EPS. On average, research analysts predict that Western Digital Corp will post 1.6 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Thursday, January 2nd. Western Digital’s dividend payout ratio (DPR) is currently 52.49%.

In related news, EVP Michael Charles Ray sold 87,053 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $59.96, for a total value of $5,219,697.88. Following the sale, the executive vice president now directly owns 112,480 shares of the company’s stock, valued at $6,744,300.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew E. Massengill sold 3,110 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $52.17, for a total value of $162,248.70. Following the completion of the sale, the director now directly owns 22,387 shares in the company, valued at $1,167,929.79. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,428 shares of company stock worth $5,948,202. 0.44% of the stock is currently owned by insiders.

Western Digital 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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Institutional Ownership by Quarter for Western Digital (NASDAQ:WDC)

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