Western Digital Corporation (WDC) CFO Sells $1,597,907.52 in Stock
Western Digital Corporation (NASDAQ:WDC) CFO Mark P. Long sold 17,028 shares of the stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $93.84, for a total value of $1,597,907.52. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website.
Western Digital Corporation (NASDAQ:WDC) traded down 0.20% during midday trading on Friday, hitting $94.82. The company’s stock had a trading volume of 2,183,334 shares. Western Digital Corporation has a 52-week low of $43.09 and a 52-week high of $95.77. The company’s market cap is $27.62 billion. The stock has a 50 day moving average of $90.39 and a 200 day moving average of $82.86.
Western Digital Corporation (NASDAQ:WDC) last announced its quarterly earnings data on Thursday, April 27th. The data storage provider reported $2.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.85 by $0.22. Western Digital Corporation had a positive return on equity of 16.01% and a negative net margin of 1.32%. The firm had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.57 billion. During the same period last year, the firm earned $1.21 earnings per share. The company’s revenue for the quarter was up 64.7% compared to the same quarter last year. On average, equities analysts expect that Western Digital Corporation will post $9.04 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.11%. Western Digital Corporation’s dividend payout ratio (DPR) is currently -202.02%.
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Several hedge funds and other institutional investors have recently made changes to their positions in WDC. Quantitative Systematic Strategies LLC bought a new position in shares of Western Digital Corporation during the second quarter worth about $702,000. Barometer Capital Management Inc. boosted its position in shares of Western Digital Corporation by 206.8% in the second quarter. Barometer Capital Management Inc. now owns 49,400 shares of the data storage provider’s stock worth $4,377,000 after buying an additional 33,300 shares during the period. Huntington National Bank boosted its position in shares of Western Digital Corporation by 7.7% in the second quarter. Huntington National Bank now owns 1,965 shares of the data storage provider’s stock worth $174,000 after buying an additional 141 shares during the period. Financial Architects Inc boosted its position in shares of Western Digital Corporation by 85.1% in the second quarter. Financial Architects Inc now owns 5,639 shares of the data storage provider’s stock worth $499,000 after buying an additional 2,592 shares during the period. Finally, Altfest L J & Co. Inc. boosted its position in shares of Western Digital Corporation by 29.0% in the second quarter. Altfest L J & Co. Inc. now owns 7,170 shares of the data storage provider’s stock worth $635,000 after buying an additional 1,614 shares during the period. 82.29% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have weighed in on WDC. Mizuho reissued a “buy” rating and issued a $105.00 target price on shares of Western Digital Corporation in a research note on Monday. BTIG Research reissued a “buy” rating and issued a $120.00 target price on shares of Western Digital Corporation in a research note on Friday, July 14th. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Western Digital Corporation in a research report on Thursday, July 13th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Western Digital Corporation in a research report on Thursday, July 13th. Finally, Vetr lowered Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $102.77 price target on the stock. in a research report on Wednesday, July 12th. Seven investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company. Western Digital Corporation presently has an average rating of “Buy” and a consensus target price of $102.16.
Western Digital Corporation 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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