All Terrain Financial Advisors LLC grew its position in Western Digital Corp (NASDAQ:WDC) by 165.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,847 shares of the data storage provider’s stock after acquiring an additional 8,000 shares during the quarter. All Terrain Financial Advisors LLC’s holdings in Western Digital were worth $752,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Spectrum Management Group Inc. increased its position in Western Digital by 3.4% during the 2nd quarter. Spectrum Management Group Inc. now owns 23,855 shares of the data storage provider’s stock valued at $1,847,000 after purchasing an additional 775 shares during the period. Capital Analysts LLC increased its position in Western Digital by 2.4% during the 2nd quarter. Capital Analysts LLC now owns 33,106 shares of the data storage provider’s stock valued at $2,563,000 after purchasing an additional 775 shares during the period. TD Asset Management Inc. increased its position in Western Digital by 0.8% during the 2nd quarter. TD Asset Management Inc. now owns 101,239 shares of the data storage provider’s stock valued at $7,837,000 after purchasing an additional 838 shares during the period. Alps Advisors Inc. increased its position in Western Digital by 5.1% during the 2nd quarter. Alps Advisors Inc. now owns 17,596 shares of the data storage provider’s stock valued at $1,362,000 after purchasing an additional 861 shares during the period. Finally, State Treasurer State of Michigan boosted its holdings in shares of Western Digital by 1.0% in the 2nd quarter. State Treasurer State of Michigan now owns 88,549 shares of the data storage provider’s stock valued at $6,855,000 after buying an additional 900 shares in the last quarter. 86.20% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:WDC opened at $45.68 on Wednesday. The company has a quick ratio of 1.70, a current ratio of 2.41 and a debt-to-equity ratio of 0.96. The company has a market cap of $13.49 billion, a PE ratio of 3.38, a PEG ratio of 0.40 and a beta of 1.17. Western Digital Corp has a 1-year low of $40.58 and a 1-year high of $106.96.

Western Digital (NASDAQ:WDC) last posted its earnings results on Thursday, October 25th. The data storage provider reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.08. The firm had revenue of $5.03 billion during the quarter, compared to analyst estimates of $5.14 billion. Western Digital had a net margin of 2.46% and a return on equity of 35.37%. Analysts expect that Western Digital Corp will post 6.19 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 14th. Stockholders of record on Friday, December 28th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend is Thursday, December 27th. Western Digital’s dividend payout ratio (DPR) is 14.80%.

Western Digital declared that its board has authorized a stock repurchase plan on Thursday, July 26th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the data storage provider to repurchase up to 22.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

A number of research firms recently commented on WDC. Susquehanna Bancshares reiterated a “neutral” rating and issued a $44.00 target price (down from $120.00) on shares of Western Digital in a research note on Tuesday. UBS Group cut shares of Western Digital from a “positive” rating to a “neutral” rating in a research note on Tuesday. Zacks Investment Research reiterated a “strong sell” rating on shares of Western Digital in a research note on Saturday. Robert W. Baird reiterated a “buy” rating and issued a $55.00 target price on shares of Western Digital in a research note on Friday, November 9th. Finally, BidaskClub upgraded shares of Western Digital from a “strong sell” rating to a “sell” rating in a research note on Saturday, November 3rd. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $82.50.

In other news, Director Matthew E. Massengill sold 1,681 shares of Western Digital stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $47.68, for a total transaction of $80,150.08. Following the completion of the transaction, the director now directly owns 17,848 shares of the company’s stock, valued at approximately $850,992.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.36% of the stock is owned by insiders.

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Western Digital Company Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.

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

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