Bristol Advisors LLC grew its position in Western Digital Corporation (NASDAQ:WDC) by 80.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,900 shares of the data storage provider’s stock after purchasing an additional 5,300 shares during the period. Bristol Advisors LLC’s holdings in Western Digital were worth $946,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors purchased a new stake in shares of Western Digital during the 2nd quarter valued at about $1,019,202,000. Vanguard Group Inc. raised its holdings in shares of Western Digital by 4.2% during the 2nd 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 during the period. Janus Henderson Group PLC raised its holdings in shares of Western Digital by 140.4% during the 2nd quarter. Janus Henderson Group PLC now owns 1,994,833 shares of the data storage provider’s stock valued at $176,746,000 after buying an additional 1,164,954 shares during the period. Discovery Capital Management LLC CT raised its holdings in shares of Western Digital by 98.9% during the 2nd 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 buying an additional 783,589 shares during the period. Finally, Kensico Capital Management Corp raised its holdings in shares of Western Digital by 228.2% during the 3rd quarter. Kensico Capital Management Corp now owns 1,094,508 shares of the data storage provider’s stock valued at $94,565,000 after buying an additional 761,000 shares during the period. 83.78% of the stock is currently owned by institutional investors and hedge funds.

WDC has been the topic of several analyst reports. BidaskClub downgraded Western Digital from a “hold” rating to a “sell” rating in a report on Thursday. BMO Capital Markets downgraded Western Digital from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $120.00 to $90.00 in a report on Thursday, January 4th. Royal Bank of Canada restated a “buy” rating on shares of Western Digital in a report on Friday, December 22nd. Benchmark restated a “buy” rating and set a $130.00 price objective on shares of Western Digital in a report on Tuesday, December 26th. Finally, Evercore ISI restated a “buy” rating and set a $130.00 price objective on shares of Western Digital in a report on Wednesday, December 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-three have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $112.10.

In related news, insider Michael D. Cordano sold 1,401 shares of the company’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $85.00, for a total transaction of $119,085.00. Following the transaction, the insider now directly owns 70,560 shares of the company’s stock, valued at $5,997,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael D. Cordano sold 1,397 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $88.13, for a total value of $123,117.61. Following the transaction, the insider now directly owns 70,556 shares in the company, valued at $6,218,100.28. The disclosure for this sale can be found here. Insiders have sold a total of 16,039 shares of company stock valued at $1,400,999 in the last 90 days. Insiders own 0.31% of the company’s stock.

Western Digital Corporation (NASDAQ WDC) traded up $1.34 during trading hours on Friday, reaching $82.25. The company had a trading volume of 3,822,000 shares, compared to its average volume of 4,062,063. Western Digital Corporation has a twelve month low of $69.10 and a twelve month high of $95.77. The firm has a market cap of $24,510.00, a price-to-earnings ratio of 17.17, a P/E/G ratio of 0.27 and a beta of 1.12. The company has a quick ratio of 2.13, a current ratio of 2.64 and a debt-to-equity ratio of 1.07.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, October 26th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.01 by $0.55. Western Digital had a return on equity of 26.48% and a net margin of 7.38%. The business had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same quarter in the previous year, the firm posted $1.18 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. sell-side analysts forecast that Western Digital Corporation will post 12.21 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, December 28th. This represents a $2.00 dividend on an annualized basis and a yield of 2.43%. Western Digital’s dividend payout ratio is currently 41.75%.

Western Digital declared that its board has authorized a stock repurchase plan on Thursday, November 9th that allows the company to buyback $2.10 billion in outstanding shares. This buyback authorization allows the data storage provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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Western Digital 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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Institutional Ownership by Quarter for Western Digital (NASDAQ:WDC)

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