Western Digital Corp (WDC) Shares Bought by Raymond James & Associates

Raymond James & Associates raised its stake in Western Digital Corp (NASDAQ:WDC) by 17.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 683,630 shares of the data storage provider’s stock after buying an additional 103,094 shares during the period. Raymond James & Associates’ holdings in Western Digital were worth $32,855,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of WDC. Winslow Evans & Crocker Inc. grew its holdings in shares of Western Digital by 7.1% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 7,350 shares of the data storage provider’s stock valued at $356,000 after purchasing an additional 490 shares during the last quarter. NuWave Investment Management LLC grew its holdings in shares of Western Digital by 4,323.7% during the 4th quarter. NuWave Investment Management LLC now owns 7,830 shares of the data storage provider’s stock valued at $290,000 after purchasing an additional 7,653 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Western Digital during the 4th quarter valued at $2,033,000. Vaughan David Investments LLC IL grew its holdings in shares of Western Digital by 27.8% during the 4th quarter. Vaughan David Investments LLC IL now owns 265,485 shares of the data storage provider’s stock valued at $9,815,000 after purchasing an additional 57,750 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of Western Digital by 13.4% during the 4th quarter. Prudential Financial Inc. now owns 917,420 shares of the data storage provider’s stock valued at $33,917,000 after purchasing an additional 108,402 shares during the last quarter. 83.93% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Mark P. Long sold 17,623 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $50.00, for a total value of $881,150.00. Following the completion of the sale, the insider now directly owns 158,744 shares of the company’s stock, valued at approximately $7,937,200. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.36% of the company’s stock.

Several equities analysts recently commented on WDC shares. BMO Capital Markets reaffirmed a “market perform” rating on shares of Western Digital in a report on Friday, January 25th. Citigroup cut their price target on shares of Western Digital to $63.00 and set a “buy” rating on the stock in a report on Friday, January 25th. Royal Bank of Canada raised their price target on shares of Western Digital to $46.00 and gave the stock a “sector perform” rating in a report on Friday, January 25th. Cowen reissued a “market perform” rating and issued a $44.00 price target (up previously from $38.00) on shares of Western Digital in a report on Friday, January 25th. Finally, Summit Insights raised shares of Western Digital from a “hold” rating to a “buy” rating in a report on Friday, January 25th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twelve have issued a buy rating to the company. Western Digital currently has a consensus rating of “Hold” and an average price target of $60.42.

NASDAQ:WDC opened at $44.63 on Friday. Western Digital Corp has a 12 month low of $33.83 and a 12 month high of $88.62. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.11 and a quick ratio of 1.30. The stock has a market capitalization of $13.08 billion, a PE ratio of 3.30 and a beta of 1.49.

Western Digital (NASDAQ:WDC) last posted its earnings results on Monday, April 29th. The data storage provider reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.29). Western Digital had a return on equity of 19.87% and a net margin of 1.10%. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same period in the prior year, the business posted $3.63 earnings per share. The company’s revenue for the quarter was down 26.7% on a year-over-year basis. As a group, research analysts forecast that Western Digital Corp will post 4.07 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a $0.50 dividend. The ex-dividend date is Thursday, June 27th. This represents a $2.00 annualized dividend and a dividend yield of 4.48%. Western Digital’s dividend payout ratio is 14.80%.

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About Western Digital

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.

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Institutional Ownership by Quarter for Western Digital (NASDAQ:WDC)

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