Reilly Financial Advisors LLC continued to hold its stake in Western Digital Corporation (NASDAQ:WDC) during the second quarter, Holdings Channel reports. The institutional investor owned 1,383 shares of the data storage provider’s stock at the end of the second quarter. Reilly Financial Advisors LLC’s holdings in Western Digital Corporation were worth $123,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. American Beacon Advisors Inc. acquired a new stake in shares of Western Digital Corporation during the first quarter valued at $111,000. Acrospire Investment Management LLC acquired a new stake in shares of Western Digital Corporation during the first quarter valued at $112,000. Harbour Capital Advisors LLC acquired a new stake in shares of Western Digital Corporation during the first quarter valued at $117,000. SRS Capital Advisors Inc. boosted its stake in shares of Western Digital Corporation by 26.7% in the first quarter. SRS Capital Advisors Inc. now owns 1,453 shares of the data storage provider’s stock valued at $119,000 after buying an additional 306 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. acquired a new stake in shares of Western Digital Corporation during the first quarter valued at $124,000. 82.29% of the stock is owned by institutional investors.
Shares of Western Digital Corporation (NASDAQ:WDC) traded down 0.20% during mid-day trading on Friday, hitting $94.82. 2,183,634 shares of the stock traded hands. The stock has a 50-day moving average of $90.39 and a 200 day moving average of $82.86. Western Digital Corporation has a one year low of $43.09 and a one year high of $95.77. The stock’s market cap is $27.62 billion.
Western Digital Corporation (NASDAQ:WDC) last released its earnings results on Thursday, April 27th. The data storage provider reported $2.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.85 by $0.22. The company had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.57 billion. Western Digital Corporation had a positive return on equity of 16.01% and a negative net margin of 1.32%. The business’s revenue was up 64.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 EPS. Equities analysts predict that Western Digital Corporation will post $9.04 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Wednesday, June 28th. Western Digital Corporation’s dividend payout ratio (DPR) is presently -202.02%.
Several brokerages have recently weighed in on WDC. Cowen and Company upped their price target on shares of Western Digital Corporation from $90.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, April 28th. Vetr cut shares of Western Digital Corporation from a “buy” rating to a “hold” rating and set a $82.28 price target for the company. in a research report on Tuesday, March 28th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $140.00 price target on shares of Western Digital Corporation in a research report on Wednesday, May 17th. Jefferies Group LLC reiterated a “hold” rating and set a $90.00 price objective on shares of Western Digital Corporation in a research note on Wednesday, June 28th. Finally, Bank of America Corporation upgraded shares of Western Digital Corporation from a “neutral” rating to a “buy” rating in a research note on Friday, April 28th. Seven equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $102.16.
In related news, insider Mark P. Long sold 57,846 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $87.02, for a total transaction of $5,033,758.92. Following the transaction, the insider now directly owns 114,522 shares in the company, valued at $9,965,704.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark P. Long sold 17,028 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $93.84, for a total value of $1,597,907.52. Following the transaction, the chief financial officer now owns 53,551 shares in the company, valued at $5,025,225.84. The disclosure for this sale can be found here. Insiders have sold 227,305 shares of company stock worth $20,209,585 over the last 90 days. 0.46% of the stock is currently owned by company insiders.
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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