Western Digital Corporation (WDC) Insider Sells $302,958.50 in Stock
Western Digital Corporation (NASDAQ:WDC) insider Michael D. Cordano sold 3,670 shares of Western Digital Corporation stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $82.55, for a total value of $302,958.50. Following the transaction, the insider now directly owns 79,881 shares in the company, valued at $6,594,176.55. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Michael D. Cordano also recently made the following trade(s):
- On Monday, June 12th, Michael D. Cordano sold 11,322 shares of Western Digital Corporation stock. The stock was sold at an average price of $85.00, for a total value of $962,370.00.
Western Digital Corporation (WDC) traded up 2.42% during trading on Wednesday, reaching $85.85. The company had a trading volume of 4,168,680 shares. Western Digital Corporation has a 12-month low of $44.88 and a 12-month high of $95.77. The firm’s 50 day moving average price is $88.23 and its 200 day moving average price is $84.54. The firm has a market capitalization of $25.07 billion, a PE ratio of 64.07 and a beta of 1.22.
Western Digital Corporation (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.51 by $0.42. The business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Western Digital Corporation had a net margin of 2.08% and a return on equity of 21.23%. The company’s revenue was up 38.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.79 EPS. Equities research analysts forecast that Western Digital Corporation will post $12.54 EPS for the current year.
The firm 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 2.33%. The ex-dividend date is Thursday, September 28th. Western Digital Corporation’s dividend payout ratio is presently 156.25%.
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Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Western Digital Corporation by 4.2% in the second quarter. Vanguard Group Inc. now owns 29,942,849 shares of the data storage provider’s stock valued at $2,652,936,000 after buying an additional 1,201,394 shares in the last quarter. Capital World Investors acquired a new position in shares of Western Digital Corporation during the second quarter valued at $1,019,202,000. Iridian Asset Management LLC CT boosted its position in shares of Western Digital Corporation by 1.8% in the second quarter. Iridian Asset Management LLC CT now owns 5,641,706 shares of the data storage provider’s stock valued at $499,855,000 after buying an additional 100,195 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Western Digital Corporation by 10.0% in the second quarter. Ameriprise Financial Inc. now owns 4,443,866 shares of the data storage provider’s stock valued at $393,778,000 after buying an additional 405,293 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Western Digital Corporation by 0.5% in the second quarter. Northern Trust Corp now owns 3,191,625 shares of the data storage provider’s stock worth $282,778,000 after buying an additional 16,436 shares during the period. Institutional investors and hedge funds own 81.91% of the company’s stock.
Several research analysts have recently weighed in on the company. BMO Capital Markets reissued a “buy” rating and issued a $104.00 price objective on shares of Western Digital Corporation in a research report on Thursday, April 27th. Susquehanna Bancshares Inc reissued a “positive” rating and issued a $140.00 price objective on shares of Western Digital Corporation in a research report on Wednesday, May 17th. Maxim Group reissued a “buy” rating and issued a $108.00 price objective on shares of Western Digital Corporation in a research report on Wednesday, June 21st. UBS AG reissued a “neutral” rating and issued a $92.00 price objective (up from $90.00) on shares of Western Digital Corporation in a research report on Wednesday, June 28th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Western Digital Corporation in a research report on Monday, June 12th. One investment 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 assigned a strong buy rating to the company’s stock. Western Digital Corporation currently has an average rating of “Buy” and an average price target of $104.93.
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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