Moors & Cabot Inc. Has $327,000 Position in Western Digital Corporation (WDC)
Moors & Cabot Inc. lessened its position in shares of Western Digital Corporation (NASDAQ:WDC) by 49.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,704 shares of the data storage provider’s stock after selling 3,649 shares during the quarter. Moors & Cabot Inc.’s holdings in Western Digital Corporation were worth $327,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in WDC. Capital World Investors acquired a new stake in shares of Western Digital Corporation in the second quarter valued at about $1,019,202,000. Vanguard Group Inc. grew its position in shares of Western Digital Corporation by 4.5% in the first quarter. Vanguard Group Inc. now owns 28,741,455 shares of the data storage provider’s stock valued at $2,372,032,000 after purchasing an additional 1,250,528 shares during the period. Janus Henderson Group PLC grew its position in shares of Western Digital Corporation by 140.4% in the second quarter. Janus Henderson Group PLC now owns 1,994,833 shares of the data storage provider’s stock valued at $176,746,000 after purchasing an additional 1,164,954 shares during the period. Schroder Investment Management Group grew its position in shares of Western Digital Corporation by 24,087.4% in the second quarter. Schroder Investment Management Group now owns 902,431 shares of the data storage provider’s stock valued at $82,709,000 after purchasing an additional 898,700 shares during the period. Finally, Discovery Capital Management LLC CT grew its position in shares of Western Digital Corporation by 98.9% in the second quarter. Discovery Capital Management LLC CT now owns 1,576,089 shares of the data storage provider’s stock valued at $139,641,000 after purchasing an additional 783,589 shares during the period. Institutional investors own 82.36% of the company’s stock.
Several analysts have recently issued reports on the stock. UBS AG dropped their target price on shares of Western Digital Corporation from $101.00 to $93.00 and set a “neutral” rating on the stock in a research report on Thursday. Vetr lowered shares of Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $93.86 target price on the stock. in a research report on Tuesday. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $88.00 target price on shares of Western Digital Corporation in a research report on Tuesday. Mizuho reiterated a “buy” rating and issued a $105.00 target price on shares of Western Digital Corporation in a research report on Sunday. Finally, Deutsche Bank AG lowered shares of Western Digital Corporation from a “buy” rating to a “hold” rating and dropped their target price for the company from $105.00 to $80.00 in a research report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $111.35.
In other news, CFO Mark P. Long sold 17,028 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The shares were 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 owns 53,551 shares of the company’s stock, valued at $5,025,225.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark P. Long sold 1,446 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $87.63, for a total transaction of $126,712.98. Following the sale, the insider now directly owns 86,939 shares of the company’s stock, valued at approximately $7,618,464.57. The disclosure for this sale can be found here. Insiders sold 128,246 shares of company stock valued at $11,323,928 in the last ninety days. 0.31% of the stock is owned by corporate insiders.
Western Digital Corporation (NASDAQ:WDC) traded up 0.41% on Thursday, reaching $85.97. 487,126 shares of the company’s stock traded hands. The firm has a market capitalization of $25.35 billion, a P/E ratio of 64.16 and a beta of 1.24. The stock has a 50-day moving average of $87.26 and a 200 day moving average of $87.40. Western Digital Corporation has a 52 week low of $52.10 and a 52 week 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 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.51 by $0.42. Western Digital Corporation had a net margin of 2.08% and a return on equity of 21.23%. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the company earned $0.79 earnings per share. Western Digital Corporation’s revenue for the quarter was up 38.5% on a year-over-year basis. On average, equities analysts expect that Western Digital Corporation will post $12.39 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 given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Thursday, September 28th. Western Digital Corporation’s dividend payout ratio (DPR) is 156.25%.
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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