Yousif Capital Management LLC Has $4.91 Million Stock Holdings in Western Digital Corporation $WDC

Yousif Capital Management LLC trimmed its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 9.3% in the third quarter, Holdings Channel.com reports. The firm owned 40,923 shares of the data storage provider’s stock after selling 4,192 shares during the quarter. Yousif Capital Management LLC’s holdings in Western Digital were worth $4,913,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Private Wealth Management Group LLC boosted its holdings in shares of Western Digital by 102.5% in the second quarter. Private Wealth Management Group LLC now owns 399 shares of the data storage provider’s stock valued at $26,000 after buying an additional 202 shares during the period. Rakuten Securities Inc. lifted its position in Western Digital by 4,070.0% in the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 407 shares in the last quarter. NewSquare Capital LLC boosted its stake in Western Digital by 86.9% in the 2nd quarter. NewSquare Capital LLC now owns 441 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 205 shares during the period. Grove Bank & Trust bought a new position in Western Digital during the 3rd quarter worth about $30,000. Finally, CNB Bank acquired a new stake in shares of Western Digital in the 2nd quarter valued at about $37,000. Institutional investors own 92.51% of the company’s stock.

Insiders Place Their Bets

In other Western Digital news, insider Cynthia L. Tregillis sold 2,801 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $160.57, for a total transaction of $449,756.57. Following the completion of the sale, the insider owned 144,596 shares of the company’s stock, valued at $23,217,779.72. This trade represents a 1.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $150.69, for a total transaction of $3,013,800.00. Following the transaction, the chief executive officer directly owned 645,467 shares of the company’s stock, valued at approximately $97,265,422.23. This trade represents a 3.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 26,369 shares of company stock valued at $4,013,785. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on WDC shares. Zacks Research raised Western Digital from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price target on shares of Western Digital in a research report on Tuesday, December 16th. China Renaissance began coverage on shares of Western Digital in a research note on Friday, December 5th. They set a “buy” rating and a $193.00 price target for the company. Benchmark boosted their price objective on shares of Western Digital from $115.00 to $163.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Bank of America raised their target price on shares of Western Digital from $170.00 to $197.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.65.

Western Digital Trading Up 0.8%

NASDAQ WDC opened at $179.74 on Thursday. Western Digital Corporation has a 12 month low of $28.83 and a 12 month high of $188.77. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average of $156.12 and a 200-day moving average of $108.24. The company has a market cap of $61.45 billion, a PE ratio of 26.16, a PEG ratio of 1.10 and a beta of 1.82.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Monday, April 7th. The data storage provider reported $1.78 EPS for the quarter. The company had revenue of $4.10 billion during the quarter. Western Digital had a net margin of 21.37% and a return on equity of 30.89%. On average, equities research analysts anticipate that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Western Digital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were paid a $0.125 dividend. This is a positive change from Western Digital’s previous quarterly dividend of $0.10. This represents a $0.50 annualized dividend and a yield of 0.3%. The ex-dividend date was Thursday, December 4th. Western Digital’s dividend payout ratio is currently 7.28%.

Western Digital Company Profile

Western Digital Corporation is a global data storage company that designs, manufactures and sells a broad range of storage devices and systems for personal, enterprise and cloud applications. Headquartered in San Jose, California, the company develops hard disk drives (HDDs), solid-state drives (SSDs), NAND flash components and finished storage products used in PCs, external storage, servers, network-attached storage (NAS) and embedded systems.

Its product portfolio spans consumer and commercial markets, including internal and external HDDs and SSDs, removable flash memory products and storage platforms for data center and enterprise environments.