NN Investment Partners Holdings N.V. continued to hold its position in shares of Western Digital Corporation (NASDAQ:WDC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,844 shares of the data storage provider’s stock at the end of the first quarter. NN Investment Partners Holdings N.V.’s holdings in Western Digital Corporation were worth $152,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Iridian Asset Management LLC CT raised its stake in Western Digital Corporation by 244.0% in the first quarter. Iridian Asset Management LLC CT now owns 5,541,511 shares of the data storage provider’s stock valued at $457,341,000 after buying an additional 3,930,465 shares during the last quarter. Norges Bank bought a new position in shares of Western Digital Corporation during the fourth quarter worth $168,304,000. Viking Global Investors LP acquired a new stake in Western Digital Corporation during the fourth quarter worth approximately $95,471,000. Los Angeles Capital Management & Equity Research Inc. increased its stake in Western Digital Corporation by 926.9% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,185,315 shares of the data storage provider’s stock worth $69,305,000 after buying an additional 1,069,889 shares during the last quarter. Finally, Villere ST Denis J & Co. LLC acquired a new stake in Western Digital Corporation during the first quarter worth approximately $84,484,000. Institutional investors and hedge funds own 83.10% of the company’s stock.
Shares of Western Digital Corporation (WDC) opened at 88.23 on Wednesday. The firm’s market cap is $25.70 billion. The firm’s 50-day moving average is $88.90 and its 200-day moving average is $79.46. Western Digital Corporation has a 1-year low of $41.64 and a 1-year high of $92.50.
Western Digital Corporation (NASDAQ:WDC) last released its earnings results 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. The company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.57 billion. Western Digital Corporation had a positive return on equity of 16.01% and a negative net margin of 1.32%. Western Digital Corporation’s quarterly revenue was up 64.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 EPS. On average, analysts anticipate that Western Digital Corporation will post $8.89 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Stockholders 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 dividend yield of 2.27%. The ex-dividend date is Wednesday, June 28th. Western Digital Corporation’s dividend payout ratio (DPR) is currently -202.02%.
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A number of brokerages have recently issued reports on WDC. Vetr upgraded shares of Western Digital Corporation from a “buy” rating to a “strong-buy” rating and set a $100.46 price target for the company in a report on Monday. Evercore ISI started coverage on shares of Western Digital Corporation in a report on Friday, June 16th. They set an “outperform” rating and a $130.00 price target for the company. Guggenheim reissued a “buy” rating and issued a $125.00 price target on shares of Western Digital Corporation in a research report on Wednesday, June 14th. Aegis initiated coverage on shares of Western Digital Corporation in a research note on Tuesday, June 13th. They set a “buy” rating and a $130.00 price target on the stock. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Western Digital Corporation in a research note on Monday, June 12th. Six equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $99.37.
In other Western Digital Corporation news, EVP Jacqueline Demaria sold 21,410 shares of Western Digital Corporation stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $87.02, for a total value of $1,863,098.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael D. Cordano sold 11,322 shares of Western Digital Corporation stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $85.00, for a total value of $962,370.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 187,826 shares of company stock worth $16,390,713. 0.46% of the stock is currently owned by insiders.
Western Digital Corporation 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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