Western Digital Corporation (WDC) Shares Bought by Daiwa Securities Group Inc.
Daiwa Securities Group Inc. raised its position in Western Digital Corporation (NASDAQ:WDC) by 76.5% during the second quarter, Holdings Channel reports. The institutional investor owned 16,845 shares of the data storage provider’s stock after buying an additional 7,300 shares during the period. Daiwa Securities Group Inc.’s holdings in Western Digital Corporation were worth $1,492,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Barometer Capital Management Inc. acquired a new stake in shares of Western Digital Corporation during the first quarter worth about $1,329,000. Telemus Capital LLC raised its stake in shares of Western Digital Corporation by 10.5% in the first quarter. Telemus Capital LLC now owns 14,152 shares of the data storage provider’s stock worth $1,168,000 after buying an additional 1,344 shares in the last quarter. Reilly Financial Advisors LLC raised its stake in shares of Western Digital Corporation by 49.8% in the first quarter. Reilly Financial Advisors LLC now owns 1,383 shares of the data storage provider’s stock worth $114,000 after buying an additional 460 shares in the last quarter. Regent Investment Management LLC raised its stake in shares of Western Digital Corporation by 34.0% in the first quarter. Regent Investment Management LLC now owns 30,895 shares of the data storage provider’s stock worth $2,550,000 after buying an additional 7,845 shares in the last quarter. Finally, Cornerstone Financial Partners LLC raised its stake in shares of Western Digital Corporation by 447.8% in the first quarter. Cornerstone Financial Partners LLC now owns 23,681 shares of the data storage provider’s stock worth $1,963,000 after buying an additional 19,358 shares in the last quarter. 82.39% of the stock is owned by hedge funds and other institutional investors.
Western Digital Corporation (NASDAQ WDC) opened at 80.99 on Thursday. The company’s 50-day moving average price is $89.59 and its 200 day moving average price is $84.36. Western Digital Corporation has a 52 week low of $43.29 and a 52 week high of $95.77. The stock has a market capitalization of $23.65 billion, a P/E ratio of 60.44 and a beta of 1.22. Western Digital Corporation also saw some unusual options trading on Monday. Traders acquired 6,330 call options on the company. This represents an increase of 292% compared to the typical daily volume of 1,613 call options.
Western Digital Corporation (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 Zacks’ consensus estimate of $2.51 by $0.42. Western Digital Corporation had a return on equity of 21.23% and a net margin of 2.08%. The company had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period last year, the firm earned $0.79 earnings per share. Western Digital Corporation’s quarterly revenue was up 38.5% on a year-over-year basis. Equities research analysts expect that Western Digital Corporation will post $12.54 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Thursday, September 28th. Western Digital Corporation’s dividend payout ratio is presently 156.25%.
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A number of brokerages recently issued reports on WDC. Summit Redstone reissued a “buy” rating on shares of Western Digital Corporation in a research note on Saturday, July 22nd. Loop Capital began coverage on Western Digital Corporation in a research note on Monday, July 24th. They set a “buy” rating and a $140.00 price target for the company. BTIG Research reissued a “buy” rating and set a $120.00 price target on shares of Western Digital Corporation in a research note on Friday, July 14th. Mizuho reaffirmed a “buy” rating and set a $105.00 target price on shares of Western Digital Corporation in a research report on Monday, July 17th. Finally, Vetr lowered Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $102.77 target price for the company. in a research report on Wednesday, July 12th. Eight 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 stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $104.93.
In other Western Digital Corporation news, EVP Srinivasan Sivaram sold 16,049 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $85.06, for a total value of $1,365,127.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark P. Long sold 3,034 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $89.54, for a total value of $271,664.36. Following the completion of the sale, the insider now owns 71,342 shares in the company, valued at $6,387,962.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 126,966 shares of company stock worth $11,263,675. 0.46% of the stock is owned by insiders.
About Western Digital Corporation
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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