Howard Hughes Medical Institute reduced its stake in Western Digital Corporation (NASDAQ:WDC) by 5.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,832 shares of the data storage provider’s stock after selling 320 shares during the quarter. Howard Hughes Medical Institute’s holdings in Western Digital Corporation were worth $517,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of WDC. Iridian Asset Management LLC CT lifted its position in Western Digital Corporation by 244.0% during the first quarter. Iridian Asset Management LLC CT now owns 5,541,511 shares of the data storage provider’s stock worth $457,341,000 after buying an additional 3,930,465 shares during the period. Vanguard Group Inc. lifted its position in Western Digital Corporation by 4.5% during the first quarter. Vanguard Group Inc. now owns 28,741,455 shares of the data storage provider’s stock worth $2,372,032,000 after buying an additional 1,250,528 shares during the period. Alliancebernstein L.P. lifted its position in Western Digital Corporation by 179.3% during the first quarter. Alliancebernstein L.P. now owns 1,619,954 shares of the data storage provider’s stock worth $133,695,000 after buying an additional 1,040,028 shares during the period. Villere ST Denis J & Co. LLC purchased a new position in Western Digital Corporation during the first quarter worth about $84,484,000. Finally, Schroder Investment Management Group lifted its position in Western Digital Corporation by 24,087.4% during the second quarter. Schroder Investment Management Group now owns 902,431 shares of the data storage provider’s stock worth $82,709,000 after buying an additional 898,700 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.
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In other news, insider Mark P. Long sold 28,585 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $94.24, for a total value of $2,693,850.40. Following the transaction, the insider now directly owns 53,551 shares of the company’s stock, valued at approximately $5,046,646.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark P. Long sold 19,777 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $84.50, for a total value of $1,671,156.50. Following the completion of the transaction, the insider now directly owns 90,683 shares in the company, valued at $7,662,713.50. The disclosure for this sale can be found here. Insiders have sold 134,891 shares of company stock worth $11,854,827 over the last ninety days. Company insiders own 0.46% of the company’s stock.
WDC has been the topic of several recent analyst reports. Vetr downgraded Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $95.94 target price on the stock. in a research report on Tuesday, August 22nd. Maxim Group reiterated a “buy” rating and set a $108.00 target price on shares of Western Digital Corporation in a research report on Wednesday, August 30th. ValuEngine downgraded Western Digital Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Royal Bank Of Canada reiterated a “buy” rating on shares of Western Digital Corporation in a research report on Monday, June 12th. Finally, BidaskClub upgraded Western Digital Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Western Digital Corporation currently has a consensus rating of “Buy” and an average price target of $111.34.
Shares of Western Digital Corporation (NASDAQ:WDC) traded up 3.18% during mid-day trading on Friday, hitting $88.52. The company had a trading volume of 6,021,180 shares. Western Digital Corporation has a 12-month low of $52.10 and a 12-month high of $95.77. The firm’s 50 day moving average is $85.86 and its 200-day moving average is $86.09. The firm has a market cap of $25.85 billion, a PE ratio of 66.06 and a beta of 1.21.
Western Digital Corporation (NASDAQ:WDC) last released its quarterly earnings data on Thursday, July 27th. The data storage provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.42. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.82 billion. Western Digital Corporation had a return on equity of 21.23% and a net margin of 2.08%. The company’s quarterly revenue was up 38.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.79 earnings per share. On average, equities analysts expect that Western Digital Corporation will post $12.50 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Thursday, September 28th. Western Digital Corporation’s payout ratio is 156.25%.
Western Digital Corporation 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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