Moors & Cabot Inc. raised its stake in Western Digital Corp (NASDAQ:WDC) by 83.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,145 shares of the data storage provider’s stock after purchasing an additional 3,712 shares during the quarter. Moors & Cabot Inc.’s holdings in Western Digital were worth $652,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Cerebellum GP LLC purchased a new stake in shares of Western Digital during the fourth quarter worth about $121,000. Acadian Asset Management LLC purchased a new stake in shares of Western Digital during the fourth quarter worth about $132,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Western Digital during the fourth quarter worth about $149,000. Icon Wealth Partners LLC purchased a new stake in shares of Western Digital during the fourth quarter worth about $171,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Western Digital by 80.6% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,240 shares of the data storage provider’s stock worth $178,000 after acquiring an additional 1,000 shares during the last quarter. 84.97% of the stock is currently owned by institutional investors.
A number of brokerages have recently issued reports on WDC. BidaskClub raised Western Digital from a “sell” rating to a “hold” rating in a research report on Wednesday, December 13th. Benchmark reaffirmed a “buy” rating and set a $130.00 target price on shares of Western Digital in a research report on Tuesday, December 26th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Western Digital in a research report on Friday, December 22nd. Vetr lowered Western Digital from a “buy” rating to a “hold” rating and set a $95.09 price objective for the company. in a report on Tuesday, November 21st. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $105.00 price objective on shares of Western Digital in a report on Thursday, February 22nd. Twelve research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $111.62.
Shares of Western Digital Corp (WDC) traded up $0.29 during midday trading on Wednesday, hitting $103.20. The stock had a trading volume of 3,976,260 shares, compared to its average volume of 4,170,000. The company has a debt-to-equity ratio of 1.04, a quick ratio of 2.03 and a current ratio of 2.55. The firm has a market capitalization of $30,710.00, a P/E ratio of 15.83, a PEG ratio of 0.43 and a beta of 1.11. Western Digital Corp has a fifty-two week low of $71.38 and a fifty-two week high of $106.30.
Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, January 25th. The data storage provider reported $3.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 return on equity of 30.78% and a net margin of 1.93%. The business’s revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.30 earnings per share. equities research analysts forecast that Western Digital Corp will post 12.66 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Friday, March 30th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, March 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.94%. Western Digital’s dividend payout ratio is presently 30.67%.
In other Western Digital news, CEO Stephen D. Milligan sold 90,755 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $88.12, for a total value of $7,997,330.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark P. Long sold 4,466 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $84.20, for a total value of $376,037.20. Following the completion of the sale, the chief financial officer now owns 88,383 shares of the company’s stock, valued at $7,441,848.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 261,105 shares of company stock valued at $23,899,380. Insiders own 0.31% of the company’s stock.
Western Digital Company 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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