Thrivent Financial for Lutherans boosted its stake in Western Digital Corp (NASDAQ:WDC) by 89.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,928 shares of the data storage provider’s stock after buying an additional 8,480 shares during the period. Thrivent Financial for Lutherans’ holdings in Western Digital Corp were worth $1,219,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. Huntington National Bank boosted its stake in shares of Western Digital Corp by 511.2% in the third quarter. Huntington National Bank now owns 2,017 shares of the data storage provider’s stock valued at $119,000 after buying an additional 1,687 shares during the last quarter. Penserra Capital Management LLC boosted its stake in shares of Western Digital Corp by 112.2% in the third quarter. Penserra Capital Management LLC now owns 2,122 shares of the data storage provider’s stock valued at $123,000 after buying an additional 1,122 shares during the last quarter. ClariVest Asset Management LLC boosted its stake in shares of Western Digital Corp by 1,465.2% in the third quarter. ClariVest Asset Management LLC now owns 2,786 shares of the data storage provider’s stock valued at $163,000 after buying an additional 2,608 shares during the last quarter. FNY Partners Fund LP purchased a new stake in shares of Western Digital Corp during the fourth quarter valued at approximately $163,000. Finally, Eads & Heald Investment Counsel purchased a new stake in shares of Western Digital Corp during the third quarter valued at approximately $200,000. Hedge funds and other institutional investors own 88.22% of the company’s stock.
Shares of Western Digital Corp (NASDAQ:WDC) opened at 76.87 on Monday. The firm has a 50-day moving average price of $76.95 and a 200-day moving average price of $65.18. The firm’s market cap is $22.14 billion. Western Digital Corp has a 52-week low of $34.99 and a 52-week high of $81.67.
Western Digital Corp (NASDAQ:WDC) last announced its quarterly earnings data on Wednesday, January 25th. The data storage provider reported $2.30 EPS for the quarter, beating the Zacks’ consensus estimate of $2.12 by $0.18. The business earned $4.89 billion during the quarter, compared to the consensus estimate of $4.76 billion. Western Digital Corp had a positive return on equity of 13.38% and a negative net margin of 2.56%. The business’s revenue for the quarter was up 47.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.60 earnings per share. Analysts predict that Western Digital Corp will post $8.06 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Friday, March 31st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Wednesday, March 29th. Western Digital Corp’s dividend payout ratio is currently -133.33%.
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WDC has been the subject of several analyst reports. BMO Capital Markets upgraded Western Digital Corp from a “market perform” rating to an “outperform” rating and upped their target price for the company from $66.00 to $90.00 in a report on Thursday, January 5th. Barclays PLC restated an “overweight” rating and issued a $75.00 target price (up from $72.00) on shares of Western Digital Corp in a report on Thursday, December 8th. Vetr cut Western Digital Corp from a “buy” rating to a “hold” rating and set a $78.92 target price for the company. in a report on Wednesday, January 25th. Royal Bank of Canada restated an “outperform” rating and issued a $80.00 target price (up from $72.00) on shares of Western Digital Corp in a report on Tuesday, January 3rd. Finally, Morgan Stanley upped their target price on Western Digital Corp from $68.00 to $81.00 and gave the company an “equal weight” rating in a report on Thursday, January 26th. Six investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $82.47.
In other Western Digital Corp news, EVP Manish H. Bhatia sold 34,734 shares of the business’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $75.18, for a total transaction of $2,611,302.12. Following the completion of the sale, the executive vice president now owns 81,948 shares of the company’s stock, valued at $6,160,850.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael D. Cordano sold 5,896 shares of the business’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $70.90, for a total value of $418,026.40. Following the sale, the insider now directly owns 61,767 shares of the company’s stock, valued at approximately $4,379,280.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 114,945 shares of company stock valued at $8,766,112. Company insiders own 0.46% of the company’s stock.
Western Digital Corp Company 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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