Foundry Partners LLC Has $8.77 Million Position in Western Digital Corporation (WDC)
Foundry Partners LLC decreased its position in shares of Western Digital Corporation (NASDAQ:WDC) by 15.9% during the second quarter, Holdings Channel reports. The institutional investor owned 99,020 shares of the data storage provider’s stock after selling 18,785 shares during the period. Foundry Partners LLC’s holdings in Western Digital Corporation were worth $8,773,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. American Beacon Advisors Inc. purchased a new stake in Western Digital Corporation during the first quarter worth approximately $111,000. Acrospire Investment Management LLC purchased a new stake in Western Digital Corporation during the first quarter worth approximately $112,000. Reilly Financial Advisors LLC raised its stake in 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. Harbour Capital Advisors LLC purchased a new stake in Western Digital Corporation during the first quarter worth approximately $117,000. Finally, SRS Capital Advisors Inc. raised its stake in Western Digital Corporation by 26.7% in the first quarter. SRS Capital Advisors Inc. now owns 1,453 shares of the data storage provider’s stock worth $119,000 after buying an additional 306 shares in the last quarter. 82.39% of the stock is owned by institutional investors.
Western Digital Corporation (WDC) opened at 79.90 on Friday. The company has a market capitalization of $23.33 billion, a PE ratio of 59.63 and a beta of 1.22. The company has a 50-day moving average price of $88.96 and a 200 day moving average price of $84.38. Western Digital Corporation has a 12 month low of $44.43 and a 12 month high of $95.77.
Western Digital Corporation (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, July 27th. The data storage provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the firm posted $0.79 EPS. The company’s revenue for the quarter was up 38.5% on a year-over-year basis. On average, equities research analysts forecast that Western Digital Corporation will post $12.58 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, September 28th. Western Digital Corporation’s dividend payout ratio is 156.25%.
WDC has been the subject of a number of analyst reports. BMO Capital Markets reaffirmed a “buy” rating and set a $104.00 price objective on shares of Western Digital Corporation in a research note on Thursday, April 27th. Vetr downgraded Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $94.27 target price on the stock. in a report on Monday, April 24th. Zacks Investment Research upgraded Western Digital Corporation from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a report on Friday, April 21st. Stifel Nicolaus reiterated a “buy” rating and issued a $105.00 target price on shares of Western Digital Corporation in a report on Tuesday, April 18th. Finally, Maxim Group upped their target price on Western Digital Corporation from $104.00 to $108.00 and gave the company a “buy” rating in a report on Friday, April 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $104.93.
In other news, CFO Mark P. Long sold 17,028 shares of the company’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $93.84, for a total transaction of $1,597,907.52. Following the completion of the sale, 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 SEC, which is accessible through this hyperlink. Also, COO Michael D. Cordano sold 4,954 shares of the company’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $94.98, for a total value of $470,530.92. Following the sale, the chief operating officer now owns 66,092 shares of the company’s stock, valued at $6,277,418.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 126,966 shares of company stock worth $11,263,675. Insiders own 0.46% of the company’s stock.
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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