TCW Group Inc. lowered its holdings in shares of Western Digital Corp (NASDAQ:WDC) by 8.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,630,387 shares of the data storage provider’s stock after selling 151,931 shares during the period. TCW Group Inc. owned 0.55% of Western Digital worth $129,664,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Bessemer Group Inc. lifted its stake in shares of Western Digital by 17.6% in the 3rd quarter. Bessemer Group Inc. now owns 4,386 shares of the data storage provider’s stock worth $379,000 after acquiring an additional 655 shares during the period. Amalgamated Bank lifted its stake in shares of Western Digital by 2.1% in the 3rd quarter. Amalgamated Bank now owns 33,781 shares of the data storage provider’s stock worth $2,919,000 after acquiring an additional 689 shares during the period. Spectrum Management Group Inc. lifted its stake in shares of Western Digital by 3.1% in the 3rd quarter. Spectrum Management Group Inc. now owns 22,702 shares of the data storage provider’s stock worth $1,961,000 after acquiring an additional 690 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Western Digital by 1.4% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 51,606 shares of the data storage provider’s stock worth $4,459,000 after acquiring an additional 700 shares during the period. Finally, ETRADE Capital Management LLC lifted its stake in shares of Western Digital by 3.7% in the 3rd quarter. ETRADE Capital Management LLC now owns 19,897 shares of the data storage provider’s stock worth $1,719,000 after acquiring an additional 711 shares during the period. Hedge funds and other institutional investors own 84.97% of the company’s stock.
Several analysts recently commented on the stock. BidaskClub upgraded shares of Western Digital from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Morgan Stanley cut shares of Western Digital from an “overweight” rating to an “equal weight” rating and set a $120.00 price objective for the company. in a research note on Monday, November 27th. Vetr cut shares of Western Digital from a “buy” rating to a “hold” rating and set a $95.09 price objective for the company. in a research note on Tuesday, November 21st. UBS Group assumed coverage on shares of Western Digital in a research note on Tuesday, March 6th. They issued a “hold” rating and a $90.00 price objective for the company. Finally, Craig Hallum reduced their price objective on shares of Western Digital from $142.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Twelve research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $111.62.
Shares of Western Digital Corp (NASDAQ WDC) opened at $102.91 on Wednesday. The company has a market cap of $30,620.00, a PE ratio of 15.78, a PEG ratio of 0.41 and a beta of 1.11. Western Digital Corp has a twelve month low of $71.38 and a twelve month high of $106.30. The company has a current ratio of 2.55, a quick ratio of 2.03 and a debt-to-equity ratio of 1.04.
Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, January 25th. The data storage provider reported $3.95 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $0.44. The business had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.31 billion. Western Digital had a net margin of 1.93% and a return on equity of 30.78%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.30 earnings per share. research analysts predict that Western Digital Corp will post 12.66 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be issued a $0.50 dividend. The ex-dividend date is Thursday, March 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.94%. Western Digital’s payout ratio is 30.67%.
In related news, CFO Mark P. Long sold 7,026 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $98.64, for a total value of $693,044.64. Following the completion of the sale, the chief financial officer now directly owns 211,817 shares in the company, valued at $20,893,628.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michael Charles Ray sold 10,767 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $104.39, for a total transaction of $1,123,967.13. Following the completion of the sale, the executive vice president now owns 95,426 shares of the company’s stock, valued at $9,961,520.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 261,105 shares of company stock valued at $23,899,380. 0.31% of the stock is owned by insiders.
Western Digital 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).
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