Western Digital Corporation (WDC) Position Boosted by Toronto Dominion Bank

Toronto Dominion Bank lifted its position in shares of Western Digital Corporation (NASDAQ:WDC) by 13.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 111,700 shares of the data storage provider’s stock after buying an additional 13,077 shares during the period. Toronto Dominion Bank’s holdings in Western Digital Corporation were worth $9,650,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in WDC. Capital World Investors purchased a new position in shares of Western Digital Corporation during the second quarter valued at approximately $1,019,202,000. Vanguard Group Inc. raised its stake in Western Digital Corporation by 4.2% during the second quarter. Vanguard Group Inc. now owns 29,942,849 shares of the data storage provider’s stock worth $2,652,936,000 after purchasing an additional 1,201,394 shares during the period. Janus Henderson Group PLC raised its stake in Western Digital Corporation by 140.4% during the second quarter. Janus Henderson Group PLC now owns 1,994,833 shares of the data storage provider’s stock worth $176,746,000 after purchasing an additional 1,164,954 shares during the period. Schroder Investment Management Group raised its stake in Western Digital Corporation by 24,087.4% during the second quarter. Schroder Investment Management Group now owns 902,431 shares of the data storage provider’s stock worth $82,709,000 after purchasing an additional 898,700 shares during the period. Finally, Discovery Capital Management LLC CT raised its stake in Western Digital Corporation by 98.9% during the second quarter. Discovery Capital Management LLC CT now owns 1,576,089 shares of the data storage provider’s stock worth $139,641,000 after purchasing an additional 783,589 shares during the period. 81.77% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Western Digital Corporation (NASDAQ:WDC) opened at $90.36 on Thursday. The firm has a market cap of $27,088.14, a PE ratio of 9.19 and a beta of 1.17. Western Digital Corporation has a 52-week low of $57.62 and a 52-week high of $95.77. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.64 and a quick ratio of 2.13.

Western Digital Corporation (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, October 26th. The data storage provider reported $3.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.01 by $0.55. The firm had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.13 billion. Western Digital Corporation had a net margin of 7.38% and a return on equity of 26.48%. Western Digital Corporation’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period last year, the firm posted $1.18 EPS. equities analysts predict that Western Digital Corporation will post 11.93 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be given a $0.50 dividend. The ex-dividend date is Thursday, December 28th. This represents a $2.00 annualized dividend and a yield of 2.21%. Western Digital Corporation’s dividend payout ratio is presently 41.75%.

Western Digital Corporation announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 9th that permits the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization permits the data storage provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

WDC has been the topic of a number of recent analyst reports. Vetr downgraded shares of Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $93.86 price target on the stock. in a research note on Tuesday, October 10th. ValuEngine downgraded shares of Western Digital Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $88.00 price target on shares of Western Digital Corporation in a research note on Tuesday, October 10th. Mizuho reaffirmed a “buy” rating and set a $105.00 price target on shares of Western Digital Corporation in a research note on Tuesday, September 5th. Finally, UBS AG cut their price target on shares of Western Digital Corporation from $101.00 to $93.00 and set a “neutral” rating on the stock in a research note on Thursday, October 12th. Eight analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $114.59.

In related news, insider Michael D. Cordano sold 1,397 shares of Western Digital Corporation stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $88.13, for a total value of $123,117.61. Following the sale, the insider now directly owns 70,556 shares in the company, valued at approximately $6,218,100.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Mark P. Long sold 4,467 shares of Western Digital Corporation stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $88.13, for a total transaction of $393,676.71. Following the completion of the sale, the chief financial officer now owns 88,384 shares in the company, valued at $7,789,281.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,135 shares of company stock worth $4,035,405. 0.31% of the stock is currently owned by insiders.

Western Digital Corporation Profile

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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