Western Digital Corporation (WDC) Insider Michael D. Cordano Sells 3,670 Shares
Western Digital Corporation (NASDAQ:WDC) insider Michael D. Cordano sold 3,670 shares of Western Digital Corporation stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $82.55, for a total value of $302,958.50. Following the transaction, the insider now directly owns 79,881 shares in the company, valued at $6,594,176.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Michael D. Cordano also recently made the following trade(s):
- On Monday, June 12th, Michael D. Cordano sold 11,322 shares of Western Digital Corporation stock. The stock was sold at an average price of $85.00, for a total value of $962,370.00.
Shares of Western Digital Corporation (WDC) traded up 2.42% on Wednesday, reaching $85.85. The company’s stock had a trading volume of 4,168,680 shares. The firm has a market cap of $25.07 billion, a price-to-earnings ratio of 64.07 and a beta of 1.22. Western Digital Corporation has a 1-year low of $44.88 and a 1-year high of $95.77. The company’s 50 day moving average is $88.23 and its 200-day moving average is $84.54.
Western Digital Corporation (NASDAQ:WDC) last announced its earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share for the quarter, topping the Zacks’ 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 firm’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 earnings per share. Equities research analysts expect that Western Digital Corporation will post $12.54 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.33%. Western Digital Corporation’s dividend payout ratio (DPR) is currently 156.25%.
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A number of research analysts recently issued reports on the company. BidaskClub lowered Western Digital Corporation from a “hold” rating to a “sell” rating in a report on Saturday. Stifel Nicolaus reaffirmed a “buy” rating and set a $120.00 target price on shares of Western Digital Corporation in a report on Monday, August 7th. Zacks Investment Research raised Western Digital Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of Western Digital Corporation in a report on Tuesday, August 1st. Finally, BMO Capital Markets set a $120.00 target price on Western Digital Corporation and gave the stock a “buy” rating in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $104.93.
Several institutional investors have recently made changes to their positions in WDC. American Beacon Advisors Inc. purchased a new position in shares of Western Digital Corporation during the first quarter worth $111,000. Acrospire Investment Management LLC purchased a new position in shares of Western Digital Corporation during the first quarter worth $112,000. Reilly Financial Advisors LLC raised its position in shares of Western Digital Corporation by 49.8% in the first quarter. Reilly Financial Advisors LLC now owns 1,383 shares of the data storage provider’s stock worth $114,000 after buying an additional 460 shares during the period. Harbour Capital Advisors LLC purchased a new position in shares of Western Digital Corporation during the first quarter worth $117,000. Finally, SRS Capital Advisors Inc. raised its position in shares of Western Digital Corporation by 26.7% in the first quarter. SRS Capital Advisors Inc. now owns 1,453 shares of the data storage provider’s stock worth $119,000 after buying an additional 306 shares during the period. Institutional investors own 81.91% of the company’s stock.
Western Digital Corporation Company 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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