American Century Companies Inc. increased its position in shares of Western Digital Corporation (NASDAQ:WDC) by 42.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 208,192 shares of the data storage provider’s stock after acquiring an additional 61,593 shares during the period. American Century Companies Inc. owned about 0.07% of Western Digital Corporation worth $17,988,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Accredited Investors Inc. lifted its stake in Western Digital Corporation by 0.4% during the 2nd quarter. Accredited Investors Inc. now owns 2,713 shares of the data storage provider’s stock worth $240,000 after acquiring an additional 11 shares in the last quarter. Cookson Peirce & Co. Inc. raised its position in Western Digital Corporation by 0.6% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 3,600 shares of the data storage provider’s stock valued at $319,000 after purchasing an additional 20 shares in the last quarter. Honkamp Krueger Financial Services Inc. raised its position in Western Digital Corporation by 0.5% in the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 4,571 shares of the data storage provider’s stock valued at $405,000 after purchasing an additional 25 shares in the last quarter. Barry Investment Advisors LLC raised its position in Western Digital Corporation by 0.4% in the 2nd quarter. Barry Investment Advisors LLC now owns 6,331 shares of the data storage provider’s stock valued at $561,000 after purchasing an additional 26 shares in the last quarter. Finally, People s United Financial Inc. raised its position in Western Digital Corporation by 0.3% in the 2nd quarter. People s United Financial Inc. now owns 12,689 shares of the data storage provider’s stock valued at $1,124,000 after purchasing an additional 41 shares in the last quarter. 81.77% of the stock is currently owned by hedge funds and other institutional investors.
In other Western Digital Corporation news, CFO Mark P. Long sold 4,467 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $88.13, for a total transaction of $393,676.71. Following the completion of the transaction, the chief financial officer now owns 88,384 shares of the company’s stock, valued at $7,789,281.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark P. Long sold 1,517 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $88.49, for a total value of $134,239.33. Following the transaction, the insider now directly owns 88,207 shares of the company’s stock, valued at approximately $7,805,437.43. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,005 shares of company stock valued at $2,377,095. 0.31% of the stock is currently owned by insiders.
Western Digital Corporation (NASDAQ:WDC) opened at $91.21 on Friday. The stock has a market capitalization of $26,727.28, a price-to-earnings ratio of 9.07 and a beta of 1.17. Western Digital Corporation has a 1-year low of $57.62 and a 1-year high of $95.77. The company has a current ratio of 2.64, a quick ratio of 2.13 and a debt-to-equity ratio of 1.07.
Western Digital Corporation (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, October 26th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.01 by $0.55. The firm had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.13 billion. Western Digital Corporation had a return on equity of 26.48% and a net margin of 7.38%. Western Digital Corporation’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.18 earnings per share. analysts predict that Western Digital Corporation will post 12.01 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, December 28th. This represents a $2.00 annualized dividend and a yield of 2.19%. Western Digital Corporation’s dividend payout ratio is presently 41.75%.
Western Digital Corporation declared that its board has authorized a stock repurchase program on Thursday, November 9th that authorizes the company to buyback $2.10 billion in shares. This buyback authorization authorizes the data storage provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
A number of equities research analysts have issued reports on the company. BidaskClub lowered Western Digital Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. UBS AG increased their price target on Western Digital Corporation from $93.00 to $97.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Benchmark Co. reaffirmed a “buy” rating and issued a $135.00 price target on shares of Western Digital Corporation in a research report on Monday, September 25th. Summit Redstone reaffirmed a “buy” rating on shares of Western Digital Corporation in a research report on Saturday, July 22nd. Finally, Longbow Research reaffirmed a “buy” rating and issued a $120.00 price target on shares of Western Digital Corporation in a research report on Thursday, September 14th. Eight research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have given a strong buy rating to the company’s stock. Western Digital Corporation currently has an average rating of “Buy” and an average price target of $114.59.
Western Digital Corporation 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).
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