Western Digital Corporation (WDC) EVP Sells $1,213,681.74 in Stock
Western Digital Corporation (NASDAQ:WDC) EVP Jacqueline Demaria sold 14,358 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $84.53, for a total transaction of $1,213,681.74. Following the completion of the transaction, the executive vice president now directly owns 75,772 shares in the company, valued at approximately $6,405,007.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Western Digital Corporation (NASDAQ WDC) traded down 0.25% during mid-day trading on Monday, hitting $80.97. 4,772,003 shares of the company’s stock were exchanged. Western Digital Corporation has a 52 week low of $43.09 and a 52 week high of $95.77. The firm has a 50 day moving average of $90.61 and a 200 day moving average of $84.10. The stock has a market capitalization of $23.64 billion, a P/E ratio of 60.43 and a beta of 1.22.
Western Digital Corporation (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, July 27th. The data storage provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.42. Western Digital Corporation had a net margin of 2.08% and a return on equity of 21.23%. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the firm earned $0.79 EPS. The company’s revenue was up 38.5% on a year-over-year basis. Equities analysts forecast that Western Digital Corporation will post $12.54 earnings per share for the current fiscal year.
The business 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 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Thursday, September 28th. Western Digital Corporation’s dividend payout ratio is currently 156.25%.
Large investors have recently modified their holdings of the company. Arizona State Retirement System raised its stake 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 worth $5,885,000 after buying an additional 700 shares in the last quarter. Hillsdale Investment Management Inc. increased its position 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 worth $463,000 after buying an additional 810 shares during the last quarter. Advisory Services Network LLC acquired a new position in Western Digital Corporation during the first quarter worth about $704,000. Exane Derivatives increased its position 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 worth $2,951,000 after buying an additional 35,295 shares during the last quarter. Finally, Profund Advisors LLC increased its position in 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 worth $1,902,000 after buying an additional 1,255 shares during the last quarter. 82.39% of the stock is currently owned by hedge funds and other institutional investors.
WDC has been the topic of several analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $120.00 price target on shares of Western Digital Corporation in a research note on Monday. Zacks Investment Research raised shares of Western Digital Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of Western Digital Corporation in a research note on Tuesday, August 1st. BMO Capital Markets set a $120.00 price target on shares of Western Digital Corporation and gave the stock a “buy” rating in a research note on Friday, July 28th. Finally, BidaskClub downgraded shares of Western Digital Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. Western Digital Corporation has an average rating of “Buy” and an average price target of $104.93.
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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