California State Teachers Retirement System decreased its position in shares of Western Digital Corp (NASDAQ:WDC) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 499,215 shares of the data storage provider’s stock after selling 17,739 shares during the quarter. California State Teachers Retirement System owned 0.17% of Western Digital worth $18,456,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of WDC. Alpha Omega Wealth Management LLC lifted its position in Western Digital by 4,440.0% during the fourth quarter. Alpha Omega Wealth Management LLC now owns 681 shares of the data storage provider’s stock worth $25,000 after purchasing an additional 666 shares during the period. Ropes Wealth Advisors LLC lifted its holdings in shares of Western Digital by 706.0% in the fourth quarter. Ropes Wealth Advisors LLC now owns 806 shares of the data storage provider’s stock worth $30,000 after acquiring an additional 706 shares during the last quarter. Avestar Capital LLC lifted its holdings in shares of Western Digital by 13.9% in the fourth quarter. Avestar Capital LLC now owns 1,993 shares of the data storage provider’s stock worth $48,000 after acquiring an additional 243 shares during the last quarter. Essex Savings Bank bought a new position in shares of Western Digital in the fourth quarter worth about $54,000. Finally, Rational Advisors LLC lifted its holdings in shares of Western Digital by 1,024.3% in the fourth quarter. Rational Advisors LLC now owns 1,990 shares of the data storage provider’s stock worth $74,000 after acquiring an additional 1,813 shares during the last quarter. 84.54% of the stock is owned by institutional investors and hedge funds.
WDC has been the subject of a number of research reports. Zacks Investment Research reissued a “strong sell” rating on shares of Western Digital in a report on Saturday, November 17th. UBS Group cut shares of Western Digital from a “positive” rating to a “neutral” rating in a report on Tuesday, November 20th. Susquehanna Bancshares reissued a “neutral” rating and issued a $44.00 target price (down previously from $120.00) on shares of Western Digital in a report on Tuesday, November 20th. Royal Bank of Canada dropped their target price on shares of Western Digital to $54.00 and set a “sector perform” rating for the company in a report on Monday, December 3rd. Finally, Craig Hallum raised shares of Western Digital from a “hold” rating to a “buy” rating in a report on Thursday, December 6th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $67.79.
Shares of NASDAQ WDC opened at $48.10 on Friday. The company has a market capitalization of $13.99 billion, a P/E ratio of 3.56, a price-to-earnings-growth ratio of 0.55 and a beta of 1.49. Western Digital Corp has a 1 year low of $33.83 and a 1 year high of $106.96. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.24 and a quick ratio of 1.45.
Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, January 24th. The data storage provider reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.18. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.26 billion. Western Digital had a net margin of 4.34% and a return on equity of 28.88%. The firm’s quarterly revenue was down 20.7% on a year-over-year basis. During the same quarter last year, the business earned $3.95 EPS. Analysts forecast that Western Digital Corp will post 4.7 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date is Thursday, March 28th. Western Digital’s dividend payout ratio is presently 14.80%.
In other Western Digital news, insider Mark P. Long sold 17,623 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $50.00, for a total transaction of $881,150.00. Following the completion of the sale, the insider now owns 158,744 shares of the company’s stock, valued at approximately $7,937,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.36% of the company’s stock.
Western Digital Company Profile
Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.
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