Western Digital Corp (WDC) Shares Bought by LS Investment Advisors LLC

LS Investment Advisors LLC increased its stake in shares of Western Digital Corp (NASDAQ:WDC) by 6.4% during the first quarter, Holdings Channel reports. The fund owned 10,556 shares of the data storage provider’s stock after buying an additional 631 shares during the period. LS Investment Advisors LLC’s holdings in Western Digital Corp were worth $871,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Burney Co. increased its stake in shares of Western Digital Corp by 0.3% in the fourth quarter. Burney Co. now owns 10,617 shares of the data storage provider’s stock valued at $721,000 after buying an additional 37 shares during the last quarter. Altfest L J & Co. Inc. increased its stake in shares of Western Digital Corp by 0.8% in the third quarter. Altfest L J & Co. Inc. now owns 5,486 shares of the data storage provider’s stock valued at $321,000 after buying an additional 42 shares during the last quarter. Chicago Equity Partners LLC increased its stake in shares of Western Digital Corp by 0.7% in the first quarter. Chicago Equity Partners LLC now owns 13,615 shares of the data storage provider’s stock valued at $1,124,000 after buying an additional 95 shares during the last quarter. Strs Ohio increased its stake in shares of Western Digital Corp by 1.1% in the first quarter. Strs Ohio now owns 9,902 shares of the data storage provider’s stock valued at $817,000 after buying an additional 103 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Western Digital Corp by 0.8% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,365 shares of the data storage provider’s stock valued at $1,112,000 after buying an additional 130 shares during the last quarter. Institutional investors and hedge funds own 88.22% of the company’s stock.

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

Western Digital Corp (NASDAQ:WDC) traded up 0.91% during mid-day trading on Friday, hitting $86.89. The stock had a trading volume of 1,475,286 shares. Western Digital Corp has a 1-year low of $38.65 and a 1-year high of $91.00. The firm’s market cap is $25.31 billion. The stock has a 50 day moving average of $86.07 and a 200-day moving average of $74.46.

Western Digital Corp (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, April 27th. The data storage provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.22. Western Digital Corp had a positive return on equity of 13.38% and a negative net margin of 2.56%. The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the prior year, the business earned $1.21 EPS. The business’s revenue for the quarter was up 64.7% compared to the same quarter last year. Analysts predict that Western Digital Corp will post $8.88 EPS for the current fiscal year.

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

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A number of equities research analysts have weighed in on WDC shares. Vetr lowered Western Digital Corp from a “hold” rating to a “sell” rating and set a $80.38 price objective for the company. in a research note on Monday, April 10th. BMO Capital Markets restated a “buy” rating and set a $104.00 price objective on shares of Western Digital Corp in a research note on Thursday, April 27th. Susquehanna Bancshares Inc restated a “positive” rating and set a $140.00 price objective on shares of Western Digital Corp in a research note on Wednesday. JPMorgan Chase & Co. restated an “overweight” rating on shares of Western Digital Corp in a research note on Friday. Finally, Mizuho restated a “buy” rating on shares of Western Digital Corp in a research note on Friday. Six research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Western Digital Corp has an average rating of “Buy” and a consensus target price of $94.19.

In other news, insider Michael D. Cordano sold 27,137 shares of the stock in a transaction on Monday, April 10th. The stock was sold at an average price of $85.07, for a total value of $2,308,544.59. Following the transaction, the insider now owns 62,878 shares of the company’s stock, valued at approximately $5,349,031.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Manish H. Bhatia sold 34,734 shares of the stock in a transaction on Monday, February 27th. The shares were sold at an average price of $75.18, for a total value of $2,611,302.12. Following the completion of the transaction, the executive vice president now directly owns 81,948 shares in the company, valued at approximately $6,160,850.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 203,506 shares of company stock worth $17,378,672. Company insiders own 0.46% 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).

5 Day Chart for NASDAQ:WDC

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).

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