Mark P. Long Sells 19,777 Shares of Western Digital Corp (WDC) Stock
Western Digital Corp (NASDAQ:WDC) insider Mark P. Long sold 19,777 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $84.50, for a total value of $1,671,156.50. Following the completion of the sale, the insider now owns 90,683 shares in the company, valued at $7,662,713.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Western Digital Corp (NASDAQ WDC) opened at 80.97 on Tuesday. Western Digital Corp has a 12-month low of $43.09 and a 12-month high of $95.77. The stock has a market cap of $23.64 billion, a P/E ratio of 60.43 and a beta of 1.22. The firm’s 50 day moving average price is $90.61 and its 200-day moving average price is $84.10. Western Digital Corp also was the recipient of some unusual options trading activity on Monday. Traders acquired 6,330 call options on the stock. This is an increase of approximately 292% compared to the average daily volume of 1,613 call options.
Western Digital Corp (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.51 by $0.42. Western Digital Corp had a net margin of 5.78% and a return on equity of 10.01%. The firm had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the previous year, the firm posted $0.79 earnings per share. The company’s revenue was up 38.5% on a year-over-year basis. Equities research analysts anticipate that Western Digital Corp will post $12.54 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Thursday, September 28th. Western Digital Corp’s dividend payout ratio is presently 156.25%.
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Several hedge funds have recently bought and sold shares of WDC. American Beacon Advisors Inc. bought a new stake in Western Digital Corp during the first quarter valued at $111,000. Acrospire Investment Management LLC bought a new stake in Western Digital Corp during the first quarter valued at $112,000. Reilly Financial Advisors LLC increased its stake in Western Digital Corp by 49.8% in the first quarter. Reilly Financial Advisors LLC now owns 1,383 shares of the data storage provider’s stock valued at $114,000 after buying an additional 460 shares in the last quarter. Harbour Capital Advisors LLC bought a new stake in Western Digital Corp during the first quarter valued at $117,000. Finally, SRS Capital Advisors Inc. increased its stake in Western Digital Corp by 26.7% in the first quarter. SRS Capital Advisors Inc. now owns 1,453 shares of the data storage provider’s stock valued at $119,000 after buying an additional 306 shares in the last quarter. 82.39% of the stock is owned by hedge funds and other institutional investors.
WDC has been the topic of several research reports. BMO Capital Markets restated a “buy” rating and issued a $104.00 target price on shares of Western Digital Corp in a research note on Thursday, April 27th. Vetr lowered Western Digital Corp from a “strong-buy” rating to a “buy” rating and set a $94.27 target price on the stock. in a research note on Monday, April 24th. Zacks Investment Research upgraded Western Digital Corp from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Friday, April 21st. Stifel Nicolaus restated a “buy” rating and issued a $105.00 target price on shares of Western Digital Corp in a research note on Tuesday, April 18th. Finally, Mizuho reiterated a “buy” rating and issued a $92.00 price target on shares of Western Digital Corp in a research report on Wednesday, April 12th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $104.93.
Western Digital Corp 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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