Western Digital Corporation (NASDAQ:WDC) EVP Manish H. Bhatia Sells 2,762 Shares
Western Digital Corporation (NASDAQ:WDC) EVP Manish H. Bhatia sold 2,762 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $84.79, for a total value of $234,189.98. Following the completion of the sale, the executive vice president now directly owns 75,467 shares of the company’s stock, valued at $6,398,846.93. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Western Digital Corporation (NASDAQ:WDC) traded down 0.25% during mid-day trading on Monday, reaching $80.97. The company’s stock had a trading volume of 4,772,003 shares. The stock has a market capitalization of $23.64 billion, a price-to-earnings ratio of 60.43 and a beta of 1.22. Western Digital Corporation has a 52 week low of $43.09 and a 52 week high of $95.77. The company’s 50-day moving average is $90.61 and its 200-day moving average is $84.10.
Western Digital Corporation (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, July 27th. The data storage provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.42. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company posted $0.79 earnings per share. Equities analysts predict that Western Digital Corporation will post $12.54 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Thursday, September 28th. Western Digital Corporation’s payout ratio is 156.25%.
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Several equities research analysts have recently issued reports on the company. BMO Capital Markets reaffirmed a “buy” rating and issued a $104.00 price objective on shares of Western Digital Corporation in a research note on Thursday, April 27th. Vetr lowered Western Digital Corporation from a “hold” rating to a “sell” rating and set a $80.38 price objective for the company. in a research note on Monday, April 10th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $140.00 price objective on shares of Western Digital Corporation in a research note on Wednesday, May 17th. Maxim Group reaffirmed a “buy” rating and issued a $108.00 price objective on shares of Western Digital Corporation in a research note on Wednesday, June 21st. Finally, UBS AG reaffirmed a “neutral” rating and issued a $92.00 price objective (up from $90.00) on shares of Western Digital Corporation in a research note on Wednesday, June 28th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Western Digital Corporation presently has a consensus rating of “Buy” and a consensus target price of $104.93.
Institutional investors have recently modified their holdings of the company. Arizona State Retirement System raised its position 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 during the last quarter. Hillsdale Investment Management Inc. raised its position 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 during the last quarter. Advisory Services Network LLC purchased a new position in shares of Western Digital Corporation during the first quarter valued at about $704,000. Exane Derivatives raised its position 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 during the last quarter. Finally, Profund Advisors LLC raised its position 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 during the last quarter. 82.39% of the stock is currently owned by institutional investors.
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).
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