Insider Selling: Western Digital Corporation (WDC) Director Sells 2,000 Shares of Stock
Western Digital Corporation (NASDAQ:WDC) Director Kathleen A. Cote sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $90.63, for a total transaction of $181,260.00. Following the completion of the sale, the director now owns 16,421 shares in the company, valued at approximately $1,488,235.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Western Digital Corporation (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, October 26th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.01 by $0.55. Western Digital Corporation had a net margin of 7.38% and a return on equity of 26.48%. The company had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter last year, the firm posted $1.18 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.24%. The ex-dividend date was Thursday, September 28th. Western Digital Corporation’s dividend payout ratio is currently 41.75%.
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A number of large investors have recently modified their holdings of WDC. American Beacon Advisors Inc. purchased a new position in Western Digital Corporation during the first quarter valued at approximately $111,000. Harbour Capital Advisors LLC purchased a new position in Western Digital Corporation during the first quarter valued at approximately $117,000. Quantbot Technologies LP purchased a new position in Western Digital Corporation during the second quarter valued at approximately $135,000. Huntington National Bank lifted its holdings in Western Digital Corporation by 7.7% during the second quarter. Huntington National Bank now owns 1,965 shares of the data storage provider’s stock valued at $174,000 after purchasing an additional 141 shares in the last quarter. Finally, Sun Life Financial INC lifted its holdings in Western Digital Corporation by 16,215.4% during the second quarter. Sun Life Financial INC now owns 2,121 shares of the data storage provider’s stock valued at $188,000 after purchasing an additional 2,108 shares in the last quarter. 82.72% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on WDC shares. Vetr lowered shares of Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $95.94 price target on the stock. in a report on Tuesday, August 22nd. Mizuho reiterated a “buy” rating and set a $105.00 price target on shares of Western Digital Corporation in a report on Sunday, October 8th. Maxim Group reiterated a “buy” rating and set a $108.00 price target on shares of Western Digital Corporation in a report on Wednesday, August 30th. Zacks Investment Research upgraded shares of Western Digital Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Finally, ValuEngine lowered shares of Western Digital Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Nine research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Western Digital Corporation has an average rating of “Buy” and an average price target of $113.95.
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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