Michael Charles Ray Sells 525 Shares of Western Digital Corp (WDC) Stock

Western Digital Corp (NASDAQ:WDC) EVP Michael Charles Ray sold 525 shares of Western Digital stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $82.43, for a total value of $43,275.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Michael Charles Ray also recently made the following trade(s):

  • On Tuesday, May 22nd, Michael Charles Ray sold 1,208 shares of Western Digital stock. The shares were sold at an average price of $88.53, for a total value of $106,944.24.
  • On Friday, May 4th, Michael Charles Ray sold 4,386 shares of Western Digital stock. The shares were sold at an average price of $76.64, for a total value of $336,143.04.

Shares of Western Digital stock traded down $0.31 on Thursday, hitting $82.55. The stock had a trading volume of 4,110,581 shares, compared to its average volume of 4,124,887. Western Digital Corp has a twelve month low of $75.96 and a twelve month high of $106.96. The company has a current ratio of 2.39, a quick ratio of 1.76 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $24.84 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 0.33 and a beta of 1.02.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, April 26th. The data storage provider reported $3.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.32. The business had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $4.93 billion. Western Digital had a return on equity of 34.22% and a net margin of 0.98%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.39 earnings per share. equities research analysts predict that Western Digital Corp will post 13.4 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Friday, June 29th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Thursday, June 28th. Western Digital’s dividend payout ratio (DPR) is currently 25.32%.

A number of analysts recently issued reports on the company. BidaskClub downgraded Western Digital from a “buy” rating to a “hold” rating in a research report on Friday, June 8th. ValuEngine downgraded Western Digital from a “sell” rating to a “strong sell” rating in a research report on Friday, June 8th. Cowen boosted their price target on Western Digital from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 6th. Benchmark reissued a “buy” rating and set a $130.00 price target on shares of Western Digital in a research report on Friday, April 27th. Finally, Stifel Nicolaus reissued a “buy” rating on shares of Western Digital in a research report on Tuesday, May 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Western Digital has an average rating of “Buy” and an average target price of $111.22.

Hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN boosted its stake in shares of Western Digital by 6.6% in the fourth quarter. Wells Fargo & Company MN now owns 2,201,119 shares of the data storage provider’s stock valued at $175,054,000 after buying an additional 136,244 shares during the period. Loews Corp boosted its stake in shares of Western Digital by 11.7% in the fourth quarter. Loews Corp now owns 139,500 shares of the data storage provider’s stock valued at $11,094,000 after buying an additional 14,590 shares during the period. Itau Unibanco Holding S.A. boosted its stake in shares of Western Digital by 351.3% in the fourth quarter. Itau Unibanco Holding S.A. now owns 16,296 shares of the data storage provider’s stock valued at $1,296,000 after buying an additional 12,685 shares during the period. Virtu Financial LLC boosted its stake in shares of Western Digital by 8.6% in the fourth quarter. Virtu Financial LLC now owns 12,583 shares of the data storage provider’s stock valued at $1,001,000 after buying an additional 996 shares during the period. Finally, Hourglass Capital LLC bought a new stake in shares of Western Digital in the fourth quarter valued at approximately $239,000. Institutional investors and hedge funds own 84.53% of the company’s stock.

Western Digital Company Profile

Western Digital Corporation, together with its subsidiaries, develops, manufactures, and sells data storage devices and solutions worldwide. It offers performance hard disk drives (HDDs) that are used in enterprise servers, data analysis, and other enterprise applications; capacity HDDs and drive configurations for use in data storage systems and tiered storage models; and enterprise solid state drives (SSDs), including NAND-flash SSDs and software solutions that are designed to enhance the performance in various enterprise workload environments.

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

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