Western Digital Corp (NASDAQ:WDC) EVP Michael Charles Ray sold 1,365 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $89.54, for a total transaction of $122,222.10. Following the completion of the sale, the executive vice president now owns 42,771 shares of the company’s stock, valued at $3,829,715.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Michael Charles Ray also recently made the following trade(s):
- On Friday, May 5th, Michael Charles Ray sold 1,208 shares of Western Digital Corp stock. The stock was sold at an average price of $88.93, for a total transaction of $107,427.44.
Shares of Western Digital Corp (NASDAQ:WDC) traded up 1.09% during midday trading on Friday, hitting $87.05. 2,033,942 shares of the stock were exchanged. Western Digital Corp has a 12 month low of $38.65 and a 12 month high of $91.00. The firm’s 50-day moving average is $86.07 and its 200-day moving average is $74.46. The stock’s market cap is $25.35 billion.
Western Digital Corp (NASDAQ:WDC) last released its quarterly earnings data on Thursday, April 27th. The data storage provider reported $2.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.85 by $0.22. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.57 billion. Western Digital Corp had a negative net margin of 2.56% and a positive return on equity of 13.38%. The business’s quarterly revenue was up 64.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.21 earnings per share. Equities research analysts predict that Western Digital Corp will post $8.88 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.32%. Western Digital Corp’s payout ratio is currently -133.33%.
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Several brokerages have commented on WDC. JPMorgan Chase & Co. restated an “overweight” rating on shares of Western Digital Corp in a report on Friday. Mizuho restated a “buy” rating on shares of Western Digital Corp in a report on Friday. Susquehanna Bancshares Inc restated a “positive” rating and issued a $140.00 price objective on shares of Western Digital Corp in a report on Wednesday. Wells Fargo & Co restated a “market perform” rating and issued a $95.00 price objective on shares of Western Digital Corp in a report on Monday. Finally, Royal Bank of Canada raised their price objective on shares of Western Digital Corp from $33.00 to $39.00 and gave the stock an “outperform” rating in a report on Thursday, May 11th. Six analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. Western Digital Corp currently has a consensus rating of “Buy” and a consensus price target of $94.19.
Hedge funds have recently added to or reduced their stakes in the company. BP PLC raised its stake in Western Digital Corp by 287.9% in the fourth quarter. BP PLC now owns 128,000 shares of the data storage provider’s stock worth $8,698,000 after buying an additional 95,000 shares during the last quarter. Wells Fargo & Company MN raised its stake in 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 worth $174,768,000 after buying an additional 486,848 shares during the last quarter. Artemis Investment Management LLP raised its stake in 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 worth $135,673,000 after buying an additional 154,801 shares during the last quarter. Viking Global Investors LP acquired a new stake in Western Digital Corp during the fourth quarter worth $95,471,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Western Digital Corp during the fourth quarter worth $2,464,000. Hedge funds and other institutional investors own 88.22% of the company’s stock.
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).
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