Insider Selling: Western Digital Corp (WDC) Insider Sells $271,664.36 in Stock

Western Digital Corp (NASDAQ:WDC) insider Mark P. Long sold 3,034 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $89.54, for a total value of $271,664.36. Following the sale, the insider now directly owns 71,342 shares of the company’s stock, valued at $6,387,962.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Western Digital Corp (NASDAQ:WDC) traded up 1.03% during trading on Friday, hitting $87.00. The stock had a trading volume of 1,251,476 shares. The firm’s market capitalization is $25.34 billion. Western Digital Corp has a 1-year low of $38.65 and a 1-year high of $91.00. The firm has a 50 day moving average price of $86.07 and a 200-day moving average price of $74.46.

Western Digital Corp (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, April 27th. The data storage provider reported $2.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.85 by $0.22. Western Digital Corp had a negative net margin of 2.56% and a positive return on equity of 13.38%. The company had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same quarter last year, the business posted $1.21 EPS. Western Digital Corp’s quarterly revenue was up 64.7% compared to the same quarter last year. On average, equities research analysts expect that Western Digital Corp will post $8.88 EPS for the current year.

Insider Buying and Selling by Quarter for Western Digital Corp (NASDAQ:WDC)

The business also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, June 28th. This represents a $2.00 annualized dividend and a dividend yield of 2.32%. Western Digital Corp’s payout ratio is currently -133.33%.

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Several large investors have recently modified their holdings of WDC. BP PLC raised its stake in shares of Western Digital Corp by 287.9% in the fourth quarter. BP PLC now owns 128,000 shares of the data storage provider’s stock valued at $8,698,000 after buying an additional 95,000 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Western Digital Corp by 19.5% in the third quarter. Wells Fargo & Company MN now owns 2,989,010 shares of the data storage provider’s stock valued at $174,768,000 after buying an additional 486,848 shares during the last quarter. Artemis Investment Management LLP raised its stake in shares of Western Digital Corp by 8.4% in the fourth quarter. Artemis Investment Management LLP now owns 1,996,520 shares of the data storage provider’s stock valued at $135,673,000 after buying an additional 154,801 shares during the last quarter. Viking Global Investors LP acquired a new position in Western Digital Corp during the fourth quarter worth $95,471,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Western Digital Corp during the fourth quarter worth $2,464,000. Institutional investors own 88.22% of the company’s stock.

WDC has been the subject of several research analyst reports. Cowen and Company increased their price objective on Western Digital Corp to $89.00 in a research note on Thursday, January 26th. Royal Bank of Canada upped their target price on Western Digital Corp to $90.00 in a research report on Thursday, January 26th. TheStreet raised Western Digital Corp from a “c” rating to a “b-” rating in a research report on Wednesday, January 25th. Vetr lowered Western Digital Corp from a “strong-buy” rating to a “buy” rating and set a $78.92 target price on the stock. in a research report on Thursday, January 19th. Finally, Jefferies Group LLC upped their target price on Western Digital Corp from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, January 24th. Six investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. Western Digital Corp presently has a consensus rating of “Buy” and a consensus target price of $94.19.

About Western Digital Corp

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).

5 Day Chart for NASDAQ:WDC

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