Insider Selling: William L. Kimsey Sells 8,277 Shares of Western Digital Corp. Stock (WDC)
Western Digital Corp. (NYSE:WDC) Director William L. Kimsey sold 8,277 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $92.00, for a total transaction of $761,484.00. Following the completion of the sale, the director now directly owns 20,392 shares of the company’s stock, valued at approximately $1,876,064. The sale was disclosed in a filing with the SEC, which is available at this link.
Western Digital Corp. (NYSE:WDC) traded up 0.73% during mid-day trading on Wednesday, hitting $92.99. 1,002,859 shares of the company’s stock traded hands. Western Digital Corp. has a 52 week low of $58.04 and a 52 week high of $95.00. The stock has a 50-day moving average of $86.99 and a 200-day moving average of $86.20. The company has a market cap of $21.859 billion and a price-to-earnings ratio of 21.57.
Western Digital Corp. (NYSE:WDC) last announced its earnings results on Wednesday, April 30th. The company reported $1.94 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.87 by $0.07. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.73 billion. Analysts expect that Western Digital Corp. will post $8.00 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Stockholders of record on Friday, June 27th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Wednesday, June 25th. This is a boost from Western Digital Corp.’s previous quarterly dividend of $0.30.
A number of research firms have recently commented on WDC. Analysts at Rhino Trading initiated coverage on shares of Western Digital Corp. in a research note on Monday. They set a “buy” rating and a $110.00 price target on the stock. Separately, analysts at Barclays upgraded shares of Western Digital Corp. from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, May 14th. They now have a $98.00 price target on the stock, up previously from $95.00. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Western Digital Corp. in a research note on Thursday, May 1st. They now have a $105.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $98.50.
Western Digital Corporation (NYSE:WDC) is a provider of solutions for the collection, storage, management, protection and use of digital content, including audio and video.
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