Miller Howard Investments Inc. NY trimmed its position in Western Digital Corporation (NASDAQ:WDC) by 2.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 572,094 shares of the data storage provider’s stock after selling 16,224 shares during the period. Miller Howard Investments Inc. NY owned 0.19% of Western Digital Corporation worth $49,429,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. American Beacon Advisors Inc. purchased a new stake in Western Digital Corporation in the first quarter worth $111,000. Quantbot Technologies LP purchased a new stake in Western Digital Corporation in the second quarter worth $135,000. Huntington National Bank grew its stake in Western Digital Corporation by 7.7% in the second quarter. Huntington National Bank now owns 1,965 shares of the data storage provider’s stock worth $174,000 after purchasing an additional 141 shares during the period. Sun Life Financial INC grew its stake in Western Digital Corporation by 16,215.4% in the second quarter. Sun Life Financial INC now owns 2,121 shares of the data storage provider’s stock worth $188,000 after purchasing an additional 2,108 shares during the period. Finally, Grove Bank & Trust grew its stake in Western Digital Corporation by 33.3% in the second quarter. Grove Bank & Trust now owns 2,199 shares of the data storage provider’s stock worth $195,000 after purchasing an additional 549 shares during the period. 82.72% of the stock is currently owned by institutional investors.
In other news, EVP Srinivasan Sivaram sold 3,098 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $85.00, for a total value of $263,330.00. Following the completion of the sale, the executive vice president now directly owns 74,741 shares in the company, valued at $6,352,985. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael D. Cordano sold 3,670 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $82.55, for a total value of $302,958.50. Following the completion of the sale, the insider now owns 79,881 shares of the company’s stock, valued at $6,594,176.55. The disclosure for this sale can be found here. Insiders sold 69,418 shares of company stock valued at $5,881,436 over the last 90 days. Company insiders own 0.31% of the company’s stock.
Western Digital Corporation (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, October 26th. The data storage provider reported $3.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.01 by $0.55. The company had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.13 billion. Western Digital Corporation had a return on equity of 26.48% and a net margin of 7.38%. Western Digital Corporation’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.18 EPS.
Several equities research analysts recently weighed in on the company. Zacks Investment Research raised Western Digital Corporation from a “hold” rating to a “strong-buy” rating and set a $103.00 price target on the stock in a research note on Wednesday. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Western Digital Corporation in a research note on Thursday, July 13th. Vetr cut Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $95.94 price target on the stock. in a research note on Wednesday, August 16th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $90.00 price target on shares of Western Digital Corporation in a research note on Friday, August 18th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $120.00 price target on shares of Western Digital Corporation in a research note on Tuesday, July 11th. Nine investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and three have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $113.95.
About Western Digital Corporation
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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