Assenagon Asset Management S.A. increased its position in Western Digital Corp (NASDAQ:WDC) by 20.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 30,800 shares of the data storage provider’s stock after buying an additional 5,200 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Western Digital were worth $1,837,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Invesco Ltd. boosted its stake in Western Digital by 36.5% in the 2nd quarter. Invesco Ltd. now owns 6,340,189 shares of the data storage provider’s stock worth $301,475,000 after purchasing an additional 1,696,513 shares during the period. Nuveen Asset Management LLC boosted its stake in Western Digital by 3,406.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,309,208 shares of the data storage provider’s stock worth $62,253,000 after purchasing an additional 1,271,871 shares during the period. DNB Asset Management AS boosted its stake in Western Digital by 3,652.9% in the 2nd quarter. DNB Asset Management AS now owns 1,288,814 shares of the data storage provider’s stock worth $61,283,000 after purchasing an additional 1,254,472 shares during the period. Vanguard Group Inc. boosted its stake in Western Digital by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 32,104,981 shares of the data storage provider’s stock worth $1,526,591,000 after purchasing an additional 532,800 shares during the period. Finally, First Trust Advisors LP boosted its stake in Western Digital by 17.3% in the 2nd quarter. First Trust Advisors LP now owns 3,272,870 shares of the data storage provider’s stock worth $155,625,000 after purchasing an additional 482,473 shares during the period. 85.93% of the stock is owned by institutional investors.
Several research analysts have weighed in on WDC shares. Cleveland Research restated a “hold” rating on shares of Western Digital in a research note on Friday, September 6th. Cascend Securities upped their price target on Western Digital from $68.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. ValuEngine downgraded Western Digital from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Wells Fargo & Co upped their price target on Western Digital from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Longbow Research reiterated a “buy” rating on shares of Western Digital in a research report on Tuesday, October 15th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $60.58.
In related news, EVP Lori S. Sundberg sold 3,442 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $56.82, for a total value of $195,574.44. Following the completion of the sale, the executive vice president now directly owns 29,312 shares in the company, valued at $1,665,507.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael Charles Ray sold 87,053 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $59.96, for a total value of $5,219,697.88. Following the completion of the sale, the executive vice president now owns 112,480 shares of the company’s stock, valued at $6,744,300.80. The disclosure for this sale can be found here. 0.44% of the stock is owned by company insiders.
NASDAQ WDC opened at $58.13 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.36 and a current ratio of 2.22. The company has a market capitalization of $17.65 billion, a P/E ratio of 15.26, a P/E/G ratio of 16.44 and a beta of 1.85. Western Digital Corp has a one year low of $33.83 and a one year high of $65.31. The stock has a 50 day moving average price of $60.01 and a 200-day moving average price of $51.52.
Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Wednesday, July 31st. The data storage provider reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.22. The company had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.67 billion. Western Digital had a positive return on equity of 10.73% and a negative net margin of 4.55%. Western Digital’s revenue was down 29.0% on a year-over-year basis. During the same period last year, the company earned $3.61 earnings per share. As a group, equities analysts predict that Western Digital Corp will post 1.81 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Friday, October 4th will be given a $0.50 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 3.44%. Western Digital’s dividend payout ratio is presently 52.49%.
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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