Western Digital Corporation (WDC) Holdings Boosted by Hermes Investment Management Ltd.
Hermes Investment Management Ltd. grew its holdings in Western Digital Corporation (NASDAQ:WDC) by 6.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 502,978 shares of the data storage provider’s stock after purchasing an additional 32,440 shares during the quarter. Hermes Investment Management Ltd. owned about 0.17% of Western Digital Corporation worth $43,457,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the business. Mutual of America Capital Management LLC boosted its stake in Western Digital Corporation by 93.9% in the third quarter. Mutual of America Capital Management LLC now owns 86,014 shares of the data storage provider’s stock worth $7,432,000 after purchasing an additional 41,655 shares in the last quarter. Profit Investment Management LLC lifted its stake in shares of Western Digital Corporation by 17.4% during the third quarter. Profit Investment Management LLC now owns 4,417 shares of the data storage provider’s stock valued at $382,000 after acquiring an additional 656 shares during the period. Quotient Investors LLC acquired a new position in shares of Western Digital Corporation during the third quarter valued at $1,935,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Western Digital Corporation during the third quarter valued at $1,077,000. Finally, Centre Asset Management LLC acquired a new position in shares of Western Digital Corporation during the third quarter valued at $6,677,000. 82.29% of the stock is currently owned by institutional investors.
In other Western Digital Corporation news, insider Michael D. Cordano sold 9,404 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $88.71, for a total transaction of $834,228.84. Following the completion of the sale, the insider now directly owns 75,385 shares of the company’s stock, valued at approximately $6,687,403.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Manish H. Bhatia sold 2,762 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $84.79, for a total value of $234,189.98. Following the sale, the executive vice president now directly owns 75,467 shares of the company’s stock, valued at $6,398,846.93. The disclosure for this sale can be found here. Insiders sold a total of 77,679 shares of company stock valued at $6,561,639 over the last ninety days. 0.31% of the stock is currently owned by corporate insiders.
Western Digital Corporation (NASDAQ WDC) traded up 1.09% on Friday, hitting $86.41. The stock had a trading volume of 2,764,320 shares. The company has a 50-day moving average price of $86.64 and a 200-day moving average price of $87.56. The stock has a market capitalization of $25.48 billion, a price-to-earnings ratio of 64.49 and a beta of 1.24. Western Digital Corporation has a 52 week low of $52.62 and a 52 week high of $95.77.
Western Digital Corporation (NASDAQ:WDC) last issued its earnings results 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 business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period in the previous year, the company posted $0.79 EPS. The firm’s revenue was up 38.5% compared to the same quarter last year. Equities research analysts anticipate that Western Digital Corporation will post $12.40 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Thursday, September 28th. Western Digital Corporation’s payout ratio is 156.25%.
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Several brokerages have recently issued reports on WDC. UBS AG reaffirmed a “neutral” rating and set a $92.00 price target (up previously from $90.00) on shares of Western Digital Corporation in a research note on Wednesday, June 28th. Susquehanna Bancshares Inc reaffirmed a “positive” rating on shares of Western Digital Corporation in a research note on Friday, June 30th. FBN Securities upped their price target on Western Digital Corporation from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, June 30th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Western Digital Corporation in a research note on Thursday, July 13th. Finally, Vetr lowered Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $95.94 price target on the stock. in a research note on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $111.50.
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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