Harbour Capital Advisors LLC increased its position in shares of Western Digital Corporation (NASDAQ:WDC) by 6,411.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 92,144 shares of the data storage provider’s stock after buying an additional 90,729 shares during the period. Harbour Capital Advisors LLC’s holdings in Western Digital Corporation were worth $1,040,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in WDC. Arizona State Retirement System raised its stake in shares of Western Digital Corporation by 1.0% in the first quarter. Arizona State Retirement System now owns 71,313 shares of the data storage provider’s stock valued at $5,885,000 after buying an additional 700 shares in the last quarter. Hillsdale Investment Management Inc. raised its stake in shares of Western Digital Corporation by 16.9% in the first quarter. Hillsdale Investment Management Inc. now owns 5,610 shares of the data storage provider’s stock valued at $463,000 after buying an additional 810 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Western Digital Corporation during the first quarter valued at about $704,000. Exane Derivatives raised its stake in shares of Western Digital Corporation by 7,574.0% in the first quarter. Exane Derivatives now owns 35,761 shares of the data storage provider’s stock valued at $2,951,000 after buying an additional 35,295 shares in the last quarter. Finally, Profund Advisors LLC raised its stake in shares of Western Digital Corporation by 5.8% in the first quarter. Profund Advisors LLC now owns 23,048 shares of the data storage provider’s stock valued at $1,902,000 after buying an additional 1,255 shares in the last quarter. 81.91% of the stock is owned by institutional investors and hedge funds.
Western Digital Corporation (NASDAQ:WDC) opened at 85.85 on Thursday. The stock has a market capitalization of $25.07 billion, a PE ratio of 64.07 and a beta of 1.22. The firm has a 50-day moving average price of $88.23 and a 200-day moving average price of $84.54. Western Digital Corporation has a 52 week low of $44.88 and a 52 week high of $95.77.
Western Digital Corporation (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, July 27th. The data storage provider reported $2.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.51 by $0.42. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Western Digital Corporation had a return on equity of 21.23% and a net margin of 2.08%. The business’s quarterly revenue was up 38.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 EPS. Equities research analysts predict that Western Digital Corporation will post $12.54 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.33%. Western Digital Corporation’s payout ratio is 156.25%.
ILLEGAL ACTIVITY NOTICE: This piece was first posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this piece on another domain, it was illegally stolen and reposted in violation of US & international copyright legislation. The original version of this piece can be accessed at https://stocknewstimes.com/2017/08/17/harbour-capital-advisors-llc-raises-position-in-western-digital-corporation-nasdaqwdc-updated.html.
Several equities research analysts have recently issued reports on WDC shares. Zacks Investment Research raised Western Digital Corporation from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research report on Friday, April 21st. Royal Bank Of Canada raised their target price on Western Digital Corporation from $33.00 to $39.00 and gave the company an “outperform” rating in a research report on Thursday, May 11th. Benchmark Co. raised their target price on Western Digital Corporation from $100.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Maxim Group increased their price target on Western Digital Corporation from $104.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Finally, Citigroup Inc. increased their price target on Western Digital Corporation from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, May 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $104.66.
In other news, insider Mark P. Long sold 28,585 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $94.24, for a total value of $2,693,850.40. Following the completion of the sale, the insider now owns 53,551 shares of the company’s stock, valued at approximately $5,046,646.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark P. Long sold 19,777 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $84.50, for a total value of $1,671,156.50. Following the completion of the sale, the insider now directly owns 90,683 shares of the company’s stock, valued at approximately $7,662,713.50. The disclosure for this sale can be found here. Insiders sold a total of 123,644 shares of company stock valued at $10,946,300 in the last three months. Insiders own 0.46% of the company’s stock.
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).
Receive News & Ratings for Western Digital Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Digital Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
