Western Digital (NASDAQ:WDC) Shares Sold by Atria Investments LLC

Atria Investments LLC reduced its stake in shares of Western Digital (NASDAQ:WDC) by 15.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,955 shares of the data storage provider’s stock after selling 1,477 shares during the period. Atria Investments LLC’s holdings in Western Digital were worth $734,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Two Sigma Investments LP boosted its position in shares of Western Digital by 23,509.1% in the 4th quarter. Two Sigma Investments LP now owns 1,582,516 shares of the data storage provider’s stock worth $125,857,000 after buying an additional 1,575,813 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of Western Digital by 1,864.6% in the 4th quarter. Two Sigma Advisers LP now owns 1,186,316 shares of the data storage provider’s stock worth $94,348,000 after buying an additional 1,125,930 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Western Digital by 67.1% in the 4th quarter. Renaissance Technologies LLC now owns 2,431,182 shares of the data storage provider’s stock worth $193,352,000 after buying an additional 976,433 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Western Digital by 267.4% in the 4th quarter. Bank of Montreal Can now owns 1,232,616 shares of the data storage provider’s stock worth $98,029,000 after buying an additional 897,108 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Western Digital by 94.3% in the 4th quarter. Millennium Management LLC now owns 1,761,443 shares of the data storage provider’s stock worth $140,088,000 after buying an additional 854,852 shares in the last quarter. Institutional investors own 85.69% of the company’s stock.

Several equities research analysts recently commented on WDC shares. ValuEngine lowered shares of Western Digital from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Zacks Investment Research upgraded shares of Western Digital from a “hold” rating to a “strong-buy” rating and set a $108.00 target price on the stock in a report on Friday, March 30th. Morgan Stanley upped their target price on shares of Western Digital from $92.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, April 27th. Royal Bank of Canada upped their target price on shares of Western Digital to $120.00 and gave the company an “outperform” rating in a report on Monday, April 2nd. Finally, Mizuho restated a “buy” rating and issued a $110.00 target price (up from $105.00) on shares of Western Digital in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $111.40.

In related news, CEO Stephen D. Milligan sold 16,510 shares of the stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $80.94, for a total transaction of $1,336,319.40. Following the completion of the sale, the chief executive officer now owns 84,624 shares of the company’s stock, valued at approximately $6,849,466.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael D. Lambert sold 11,542 shares of the stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $85.88, for a total transaction of $991,226.96. Following the sale, the director now directly owns 32,646 shares of the company’s stock, valued at approximately $2,803,638.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 141,014 shares of company stock valued at $13,277,976. Corporate insiders own 0.31% of the company’s stock.

NASDAQ WDC opened at $86.52 on Friday. Western Digital has a 12 month low of $83.52 and a 12 month high of $85.97. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.39 and a quick ratio of 1.76. The stock has a market cap of $24.83 billion, a PE ratio of 10.95, a P/E/G ratio of 0.33 and a beta of 1.04.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, April 26th. The data storage provider reported $3.63 EPS for the quarter, beating the Zacks’ consensus estimate of $3.31 by $0.32. The company had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.93 billion. Western Digital had a net margin of 0.98% and a return on equity of 34.22%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.39 EPS. analysts expect that Western Digital will post 13.39 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Friday, June 29th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Thursday, June 28th. Western Digital’s dividend payout ratio (DPR) is presently 25.32%.

About Western Digital

Western Digital Corporation, together with its subsidiaries, develops, manufactures, and sells data storage devices and solutions worldwide. It offers performance hard disk drives (HDDs) that are used in enterprise servers, data analysis, and other enterprise applications; capacity HDDs and drive configurations for use in data storage systems and tiered storage models; and enterprise solid state drives (SSDs), including NAND-flash SSDs and software solutions that are designed to enhance the performance in various enterprise workload environments.

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

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