OLD National Bancorp IN acquired a new stake in shares of Western Digital Corporation (NASDAQ:WDC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,940 shares of the data storage provider’s stock, valued at approximately $260,000.
Other large investors also recently added to or reduced their stakes in the company. Iridian Asset Management LLC CT boosted its stake in Western Digital Corporation by 244.0% in the first quarter. Iridian Asset Management LLC CT now owns 5,541,511 shares of the data storage provider’s stock worth $457,341,000 after buying an additional 3,930,465 shares during the period. Vanguard Group Inc. boosted its stake in Western Digital Corporation by 4.5% in the first quarter. Vanguard Group Inc. now owns 28,741,455 shares of the data storage provider’s stock worth $2,372,032,000 after buying an additional 1,250,528 shares during the period. Alliancebernstein L.P. boosted its stake in Western Digital Corporation by 179.3% in the first quarter. Alliancebernstein L.P. now owns 1,619,954 shares of the data storage provider’s stock worth $133,695,000 after buying an additional 1,040,028 shares during the period. Villere ST Denis J & Co. LLC acquired a new stake in Western Digital Corporation during the first quarter worth $84,484,000. Finally, UBS Asset Management Americas Inc. boosted its stake in Western Digital Corporation by 52.2% in the first quarter. UBS Asset Management Americas Inc. now owns 2,393,005 shares of the data storage provider’s stock worth $197,495,000 after buying an additional 821,155 shares during the period. 82.29% of the stock is owned by institutional investors.
Western Digital Corporation (WDC) opened at 94.82 on Friday. The company’s market capitalization is $27.62 billion. Western Digital Corporation has a 12 month low of $43.09 and a 12 month high of $95.77. The stock’s 50 day moving average price is $90.39 and its 200-day moving average price is $82.86.
Western Digital Corporation (NASDAQ:WDC) last issued its earnings results on Thursday, April 27th. The data storage provider reported $2.07 earnings per share for the quarter, beating the 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%. Western Digital Corporation’s quarterly revenue was up 64.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.21 EPS. On average, equities research analysts predict that Western Digital Corporation will post $9.04 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.11%. The ex-dividend date was Wednesday, June 28th. Western Digital Corporation’s dividend payout ratio is presently -202.02%.
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WDC has been the topic of a number of research analyst reports. Vetr upgraded Western Digital Corporation from a “sell” rating to a “hold” rating and set a $82.66 price target on the stock in a research note on Tuesday, April 11th. Royal Bank Of Canada restated a “buy” rating on shares of Western Digital Corporation in a research note on Monday, June 12th. BidaskClub upgraded Western Digital Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. Benchmark Co. restated a “buy” rating and issued a $135.00 price target on shares of Western Digital Corporation in a research note on Wednesday, May 24th. Finally, Citigroup Inc. increased their price target on Western Digital Corporation from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, May 1st. Seven investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $102.16.
In other Western Digital Corporation news, EVP Jacqueline Demaria sold 21,410 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $87.02, for a total value of $1,863,098.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark P. Long sold 17,028 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 53,551 shares of the company’s stock, valued at approximately $5,025,225.84. The disclosure for this sale can be found here. Insiders have sold a total of 227,305 shares of company stock valued at $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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