D.A. Davidson & CO. lifted its stake in shares of Western Digital Corp (NASDAQ:WDC) by 3.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,823 shares of the data storage provider’s stock after buying an additional 1,260 shares during the quarter. D.A. Davidson & CO.’s holdings in Western Digital were worth $3,247,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Intl Fcstone Inc. bought a new position in shares of Western Digital in the 2nd quarter worth $862,000. Mutual of America Capital Management LLC lifted its holdings in shares of Western Digital by 93.9% in the 3rd quarter. Mutual of America Capital Management LLC now owns 86,014 shares of the data storage provider’s stock worth $7,432,000 after purchasing an additional 41,655 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Western Digital by 255.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 120,634 shares of the data storage provider’s stock worth $10,424,000 after purchasing an additional 86,682 shares in the last quarter. Tributary Capital Management LLC lifted its holdings in shares of Western Digital by 366.7% in the 3rd quarter. Tributary Capital Management LLC now owns 19,600 shares of the data storage provider’s stock worth $1,693,000 after purchasing an additional 15,400 shares in the last quarter. Finally, APG Asset Management N.V. lifted its holdings in shares of Western Digital by 5.9% in the 3rd quarter. APG Asset Management N.V. now owns 1,033,521 shares of the data storage provider’s stock worth $89,296,000 after purchasing an additional 57,200 shares in the last quarter. 83.70% of the stock is owned by institutional investors.
In other news, insider Michael D. Cordano sold 1,401 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $85.00, for a total transaction of $119,085.00. Following the completion of the sale, the insider now directly owns 70,560 shares of the company’s stock, valued at approximately $5,997,600. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Mark P. Long sold 4,466 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $84.20, for a total value of $376,037.20. Following the sale, the chief financial officer now directly owns 88,383 shares of the company’s stock, valued at $7,441,848.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 152,529 shares of company stock valued at $13,285,093. Insiders own 0.31% of the company’s stock.
Shares of Western Digital Corp (NASDAQ WDC) opened at $84.91 on Friday. Western Digital Corp has a 12-month low of $71.38 and a 12-month high of $95.77. The stock has a market capitalization of $25,380.00, a price-to-earnings ratio of 13.02, a PEG ratio of 0.35 and a beta of 1.13. The company has a debt-to-equity ratio of 1.04, a quick ratio of 2.03 and a current ratio of 2.55.
Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, January 25th. The data storage provider reported $3.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.44. Western Digital had a return on equity of 30.78% and a net margin of 1.93%. The firm had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same period last year, the firm posted $2.30 EPS. The business’s revenue was up 9.2% compared to the same quarter last year. sell-side analysts predict that Western Digital Corp will post 12.62 earnings per share for the current year.
Western Digital announced that its Board of Directors has authorized a stock repurchase program on Thursday, November 9th that permits the company to repurchase $2.10 billion in shares. This repurchase authorization permits the data storage provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Friday, March 30th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Thursday, March 29th. Western Digital’s dividend payout ratio is presently 30.67%.
TRADEMARK VIOLATION NOTICE: “Western Digital Corp (WDC) Stake Increased by D.A. Davidson & CO.” was first posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright legislation. The correct version of this report can be viewed at https://www.chaffeybreeze.com/2018/02/18/western-digital-corp-wdc-stake-increased-by-d-a-davidson-co.html.
Western Digital 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).
Want to see what other hedge funds are holding WDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Digital Corp (NASDAQ:WDC).
Receive News & Ratings for Western Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Digital and related companies with MarketBeat.com's FREE daily email newsletter.