Oakbrook Investments LLC bought a new position in shares of Western Digital Corp (NASDAQ:WDC) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 14,350 shares of the data storage provider’s stock, valued at approximately $682,000.
Several other institutional investors also recently bought and sold shares of WDC. First Interstate Bank grew its position in shares of Western Digital by 159.2% in the 1st quarter. First Interstate Bank now owns 578 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 355 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in Western Digital by 57.0% during the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 650 shares of the data storage provider’s stock worth $31,000 after acquiring an additional 236 shares during the last quarter. Global Retirement Partners LLC boosted its position in Western Digital by 66.1% during the 1st quarter. Global Retirement Partners LLC now owns 746 shares of the data storage provider’s stock worth $36,000 after acquiring an additional 297 shares during the last quarter. Investors Research Corp acquired a new position in Western Digital during the 1st quarter worth approximately $36,000. Finally, Institutional & Family Asset Management LLC boosted its position in Western Digital by 167.6% during the 1st quarter. Institutional & Family Asset Management LLC now owns 784 shares of the data storage provider’s stock worth $38,000 after acquiring an additional 491 shares during the last quarter. Institutional investors own 88.10% of the company’s stock.
Shares of Western Digital stock traded up $0.67 on Tuesday, reaching $55.98. 4,184,844 shares of the company were exchanged, compared to its average volume of 7,434,434. Western Digital Corp has a one year low of $33.83 and a one year high of $77.54. The firm has a market cap of $15.37 billion, a P/E ratio of 4.14, a price-to-earnings-growth ratio of 16.24 and a beta of 1.82. The company has a quick ratio of 1.30, a current ratio of 2.11 and a debt-to-equity ratio of 1.01. The firm’s 50-day moving average is $44.84.
Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Monday, April 29th. The data storage provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.29). Western Digital had a net margin of 1.10% and a return on equity of 19.87%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter last year, the company posted $3.63 EPS. The firm’s revenue was down 26.7% on a year-over-year basis. Analysts anticipate that Western Digital Corp will post 4.01 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend was Thursday, June 27th. Western Digital’s dividend payout ratio (DPR) is presently 14.80%.
A number of research firms have weighed in on WDC. Maxim Group reaffirmed a “buy” rating on shares of Abeona Therapeutics in a research report on Wednesday, May 1st. Robert W. Baird set a $120.00 price target on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Friday, April 26th. Stifel Nicolaus upped their price target on Western Digital from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Zacks Investment Research downgraded Genprex from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. Finally, Cleveland Research began coverage on Western Digital in a research report on Friday, June 7th. They set a “hold” rating for the company. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $56.62.
Western Digital 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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