Natixis Advisors LLC Grows Stock Holdings in Western Digital Corporation $WDC

Natixis Advisors LLC increased its position in Western Digital Corporation (NASDAQ:WDC) by 59.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 365,604 shares of the data storage provider’s stock after buying an additional 136,424 shares during the quarter. Natixis Advisors LLC’s holdings in Western Digital were worth $43,895,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of WDC. Addison Advisors LLC raised its holdings in Western Digital by 7.1% during the third quarter. Addison Advisors LLC now owns 1,281 shares of the data storage provider’s stock valued at $154,000 after acquiring an additional 85 shares during the period. Pure Financial Advisors LLC boosted its stake in shares of Western Digital by 3.1% in the third quarter. Pure Financial Advisors LLC now owns 3,583 shares of the data storage provider’s stock worth $430,000 after acquiring an additional 107 shares during the period. Bogart Wealth LLC boosted its stake in shares of Western Digital by 57.7% in the third quarter. Bogart Wealth LLC now owns 309 shares of the data storage provider’s stock worth $37,000 after acquiring an additional 113 shares during the period. Dynamic Advisor Solutions LLC grew its position in shares of Western Digital by 3.0% during the third quarter. Dynamic Advisor Solutions LLC now owns 3,871 shares of the data storage provider’s stock worth $465,000 after purchasing an additional 114 shares in the last quarter. Finally, ORG Partners LLC grew its position in shares of Western Digital by 124.5% during the third quarter. ORG Partners LLC now owns 211 shares of the data storage provider’s stock worth $25,000 after purchasing an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WDC. The Goldman Sachs Group set a $250.00 price target on Western Digital in a report on Tuesday, February 3rd. Bank of America increased their price objective on shares of Western Digital from $197.00 to $257.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. TD Cowen lifted their price objective on shares of Western Digital from $200.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Mizuho boosted their target price on shares of Western Digital to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Finally, Truist Financial set a $310.00 target price on shares of Western Digital in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $265.58.

Insider Buying and Selling at Western Digital

In other Western Digital news, Director Matthew E. Massengill sold 36,926 shares of the stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $260.43, for a total transaction of $9,616,638.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cynthia L. Tregillis sold 9,324 shares of Western Digital stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $268.27, for a total transaction of $2,501,349.48. Following the completion of the transaction, the insider directly owned 121,682 shares of the company’s stock, valued at $32,643,630.14. The trade was a 7.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 84,277 shares of company stock worth $22,091,068 in the last ninety days. Company insiders own 0.18% of the company’s stock.

Western Digital Price Performance

Shares of Western Digital stock opened at $262.06 on Tuesday. The firm has a market cap of $88.85 billion, a PE ratio of 26.28, a PEG ratio of 0.56 and a beta of 1.75. The stock has a 50 day moving average of $248.03 and a 200 day moving average of $174.53. The company has a current ratio of 1.46, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. Western Digital Corporation has a 12 month low of $28.83 and a 12 month high of $309.90.

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

Western Digital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Thursday, March 5th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 0.2%. The ex-dividend date is Thursday, March 5th. Western Digital’s payout ratio is currently 5.02%.

Western Digital 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.