Regentatlantic Capital LLC trimmed its holdings in Western Digital Corp (NASDAQ:WDC) by 14.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,491 shares of the data storage provider’s stock after selling 6,215 shares during the period. Regentatlantic Capital LLC’s holdings in Western Digital were worth $1,349,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC increased its position in shares of Western Digital by 0.8% during the second quarter. FMR LLC now owns 1,093,275 shares of the data storage provider’s stock valued at $84,630,000 after buying an additional 8,946 shares during the period. Atria Investments LLC increased its position in shares of Western Digital by 43.6% during the third quarter. Atria Investments LLC now owns 11,446 shares of the data storage provider’s stock valued at $670,000 after buying an additional 3,473 shares during the period. State of Alaska Department of Revenue increased its position in shares of Western Digital by 12.3% during the third quarter. State of Alaska Department of Revenue now owns 44,810 shares of the data storage provider’s stock valued at $2,622,000 after buying an additional 4,892 shares during the period. NEXT Financial Group Inc purchased a new position in shares of Western Digital during the third quarter valued at about $109,000. Finally, Gyroscope Capital Management Group LLC increased its position in shares of Western Digital by 44.6% during the third quarter. Gyroscope Capital Management Group LLC now owns 113,933 shares of the data storage provider’s stock valued at $6,397,000 after buying an additional 35,166 shares during the period. 84.07% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on WDC. TheStreet cut shares of Western Digital from a “b-” rating to a “c+” rating in a research report on Friday, October 12th. Craig Hallum cut shares of Western Digital from a “buy” rating to a “hold” rating and cut their price objective for the stock from $115.00 to $59.00 in a report on Friday, October 26th. Benchmark restated a “hold” rating on shares of Western Digital in a report on Friday, October 26th. Loop Capital cut their price objective on shares of Western Digital to $80.00 and set an “average” rating on the stock in a report on Friday, October 26th. Finally, BMO Capital Markets restated a “hold” rating and issued a $60.00 price objective on shares of Western Digital in a report on Thursday, October 25th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the stock. Western Digital presently has a consensus rating of “Hold” and a consensus price target of $69.96.
In other news, Director Matthew E. Massengill sold 1,681 shares of the company’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $47.68, for a total value of $80,150.08. Following the transaction, the director now owns 17,848 shares in the company, valued at $850,992.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.36% of the company’s stock.
Shares of NASDAQ WDC opened at $47.00 on Friday. The company has a market capitalization of $13.02 billion, a PE ratio of 4.19, a PEG ratio of 0.50 and a beta of 1.43. Western Digital Corp has a 52-week low of $33.83 and a 52-week high of $106.96. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.45 and a current ratio of 2.24.
Western Digital (NASDAQ:WDC) last issued its earnings results on Thursday, January 24th. The data storage provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.18. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.26 billion. Western Digital had a net margin of 4.34% and a return on equity of 28.88%. The business’s revenue was down 20.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.95 earnings per share. On average, research analysts anticipate that Western Digital Corp will post 4.7 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, January 14th. Stockholders of record on Friday, December 28th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, December 27th. This represents a $2.00 annualized dividend and a dividend yield of 4.26%. Western Digital’s dividend payout ratio is presently 14.80%.
Western Digital Company Profile
Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.
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