Western Digital Corporation $WDC Shares Sold by TIAA Trust National Association

TIAA Trust National Association lowered its stake in Western Digital Corporation (NASDAQ:WDC) by 19.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 8,069 shares of the data storage provider’s stock after selling 1,915 shares during the period. TIAA Trust National Association’s holdings in Western Digital were worth $969,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. ORG Partners LLC increased its holdings in Western Digital by 124.5% in the third quarter. ORG Partners LLC now owns 211 shares of the data storage provider’s stock valued at $25,000 after buying an additional 117 shares during the last quarter. Rakuten Securities Inc. increased its holdings in shares of 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 during the last quarter. NewSquare Capital LLC increased its holdings in shares of Western Digital by 86.9% in the 2nd quarter. NewSquare Capital LLC now owns 441 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 205 shares during the last quarter. Cullen Frost Bankers Inc. lifted its stake in Western Digital by 551.4% during the third quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 204 shares during the last quarter. Finally, Grove Bank & Trust acquired a new position in Western Digital in the third quarter worth $30,000. Institutional investors own 92.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WDC. Cantor Fitzgerald increased their target price on shares of Western Digital to $325.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. New Street Research set a $250.00 price objective on shares of Western Digital in a research report on Tuesday, February 3rd. Rosenblatt Securities reissued a “buy” rating and issued a $340.00 target price on shares of Western Digital in a report on Wednesday, February 4th. Wedbush reissued an “outperform” rating and issued a $325.00 price target on shares of Western Digital in a report on Monday, February 9th. Finally, Mizuho boosted their price target on shares of Western Digital to $340.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Western Digital has an average rating of “Moderate Buy” and an average target price of $265.58.

Western Digital Trading Down 0.9%

Shares of WDC stock opened at $279.70 on Monday. The firm has a market capitalization of $94.83 billion, a PE ratio of 28.05, a price-to-earnings-growth ratio of 0.65 and a beta of 1.75. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.46. Western Digital Corporation has a 1 year low of $28.83 and a 1 year high of $309.90. The stock has a fifty day moving average of $238.58 and a two-hundred day moving average of $166.82.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, January 29th. The data storage provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.20. The business had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Western Digital had a net margin of 35.52% and a return on equity of 41.53%. The company’s revenue was up 25.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.77 earnings per share. As a group, research analysts expect that Western Digital Corporation will post 4.89 EPS for the current year.

Western Digital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Thursday, March 5th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Thursday, March 5th. Western Digital’s dividend payout ratio (DPR) is currently 5.02%.

Insider Buying and Selling

In other news, CEO Irving Tan sold 20,000 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $255.44, for a total value of $5,108,800.00. Following the completion of the sale, the chief executive officer owned 623,586 shares in the company, valued at $159,288,807.84. This represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Cynthia L. Tregillis sold 214 shares of Western Digital stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $286.11, for a total value of $61,227.54. Following the transaction, the insider directly owned 133,781 shares in the company, valued at approximately $38,276,081.91. The trade was a 0.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 67,606 shares of company stock valued at $17,296,369 over the last quarter. Corporate insiders own 0.18% of the company’s stock.

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.