Swiss National Bank Boosts Holdings in Western Digital Corporation (WDC)

Swiss National Bank increased its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,051,863 shares of the data storage provider’s stock after acquiring an additional 40,300 shares during the quarter. Swiss National Bank owned approximately 0.36% of Western Digital Corporation worth $93,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of WDC. Iridian Asset Management LLC CT grew its position in Western Digital Corporation by 244.0% during the 1st quarter. Iridian Asset Management LLC CT now owns 5,541,511 shares of the data storage provider’s stock worth $457,341,000 after acquiring an additional 3,930,465 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Western Digital Corporation by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 28,741,455 shares of the data storage provider’s stock worth $2,372,032,000 after buying an additional 1,250,528 shares during the period. Alliancebernstein L.P. lifted its holdings in Western Digital Corporation by 179.3% in the 1st quarter. Alliancebernstein L.P. now owns 1,619,954 shares of the data storage provider’s stock worth $133,695,000 after buying an additional 1,040,028 shares during the period. Villere ST Denis J & Co. LLC purchased a new stake in Western Digital Corporation in the 1st quarter worth approximately $84,484,000. Finally, UBS Asset Management Americas Inc. lifted its holdings in Western Digital Corporation by 52.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 2,393,005 shares of the data storage provider’s stock worth $197,495,000 after buying an additional 821,155 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

WDC has been the subject of several research analyst reports. Benchmark Co. reiterated a “buy” rating and issued a $135.00 price objective on shares of Western Digital Corporation in a report on Wednesday, May 24th. Maxim Group reiterated a “buy” rating and issued a $108.00 price objective on shares of Western Digital Corporation in a report on Wednesday, June 21st. Aegis reiterated a “buy” rating and issued a $130.00 price objective on shares of Western Digital Corporation in a report on Monday, July 3rd. Stifel Nicolaus reiterated a “buy” rating on shares of Western Digital Corporation in a report on Wednesday, May 24th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $90.00 price objective on shares of Western Digital Corporation in a report on Wednesday, June 28th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the stock. Western Digital Corporation has a consensus rating of “Buy” and an average price target of $111.34.

In other news, CFO Mark P. Long sold 17,028 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $93.84, for a total transaction of $1,597,907.52. Following the sale, the chief financial officer now directly owns 53,551 shares in the company, valued at approximately $5,025,225.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jacqueline Demaria sold 14,358 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $84.53, for a total value of $1,213,681.74. Following the sale, the executive vice president now owns 75,772 shares in the company, valued at $6,405,007.16. The disclosure for this sale can be found here. Insiders have sold a total of 134,891 shares of company stock worth $11,854,827 over the last ninety days. 0.46% of the stock is owned by insiders.

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Western Digital Corporation (NASDAQ WDC) opened at 88.52 on Friday. The stock has a market capitalization of $25.85 billion, a P/E ratio of 66.06 and a beta of 1.21. The company’s 50-day moving average price is $85.86 and its 200 day moving average price is $86.09. Western Digital Corporation has a 52-week low of $52.10 and a 52-week high of $95.77.

Western Digital Corporation (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.42. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 38.5% compared to the same quarter last year. During the same period last year, the firm earned $0.79 EPS. On average, equities research analysts predict that Western Digital Corporation will post $12.50 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Thursday, September 28th. Western Digital Corporation’s dividend payout ratio is currently 156.25%.

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).

Institutional Ownership by Quarter for Western Digital Corporation (NASDAQ:WDC)

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