Northpointe Capital LLC reduced its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 26.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,300 shares of the data storage provider’s stock after selling 12,411 shares during the period. Northpointe Capital LLC’s holdings in Western Digital Corporation were worth $3,128,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Arizona State Retirement System raised its stake in 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 during the last quarter. Hillsdale Investment Management Inc. raised its stake in 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 during the last quarter. Advisory Services Network LLC purchased a new stake in Western Digital Corporation during the first quarter valued at about $704,000. Korea Investment CORP raised its stake in Western Digital Corporation by 14.7% in the second quarter. Korea Investment CORP now owns 595,049 shares of the data storage provider’s stock valued at $52,721,000 after buying an additional 76,459 shares during the last quarter. Finally, Exane Derivatives raised its stake in 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 during the last quarter. 81.91% of the stock is currently owned by institutional investors.
Shares of Western Digital Corporation (NASDAQ WDC) opened at 85.85 on Thursday. The firm has a market cap of $25.07 billion, a P/E ratio of 64.07 and a beta of 1.22. The company has a 50-day moving average of $88.23 and a 200 day moving average of $84.54. Western Digital Corporation has a 12-month low of $44.88 and a 12-month high of $95.77.
Western Digital Corporation (NASDAQ:WDC) last announced its earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.42. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.82 billion. Western Digital Corporation had a net margin of 2.08% and a return on equity of 21.23%. The business’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 earnings per share. Equities research analysts anticipate that Western Digital Corporation will post $12.54 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.00 annualized dividend and a dividend yield of 2.33%. Western Digital Corporation’s dividend payout ratio (DPR) is presently 156.25%.
TRADEMARK VIOLATION WARNING: This piece was published by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece can be viewed at https://stocknewstimes.com/2017/08/17/northpointe-capital-llc-sells-12411-shares-of-western-digital-corporation-wdc.html.
WDC has been the topic of several recent analyst reports. BTIG Research lowered their target price on shares of Western Digital Corporation from $120.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, April 28th. Mizuho lowered their target price on shares of Western Digital Corporation from $105.00 to $92.00 and set a “buy” rating on the stock in a research note on Friday, April 28th. Benchmark Co. increased their target price on shares of Western Digital Corporation from $100.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Vetr lowered shares of Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $94.27 target price on the stock. in a research note on Monday, April 24th. Finally, Zacks Investment Research raised shares of Western Digital Corporation from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Friday, April 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $104.66.
In other news, EVP Michael Charles Ray sold 524 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $92.30, for a total value of $48,365.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark P. Long sold 1,517 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $80.97, for a total transaction of $122,831.49. Following the completion of the transaction, the chief financial officer now owns 88,207 shares of the company’s stock, valued at $7,142,120.79. The disclosure for this sale can be found here. Insiders sold 123,644 shares of company stock valued at $10,946,300 over the last 90 days. Insiders own 0.46% of the company’s stock.
Western Digital Corporation Company 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).
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.
