Great West Life Assurance Co. Can lifted its holdings in shares of Western Digital Corp (NASDAQ:WDC) by 16.1% during the first quarter, Holdings Channel reports. The fund owned 474,240 shares of the data storage provider’s stock after purchasing an additional 65,825 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Western Digital were worth $22,732,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in WDC. Legal & General Group Plc boosted its position in shares of Western Digital by 3.3% during the 3rd quarter. Legal & General Group Plc now owns 1,355,074 shares of the data storage provider’s stock worth $79,326,000 after purchasing an additional 43,281 shares in the last quarter. Morgan Stanley raised its stake in shares of Western Digital by 75.0% during the 3rd quarter. Morgan Stanley now owns 3,605,774 shares of the data storage provider’s stock worth $211,082,000 after buying an additional 1,545,390 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Western Digital during the 4th quarter worth $396,000. Strs Ohio raised its stake in shares of Western Digital by 3.8% during the 4th quarter. Strs Ohio now owns 541,607 shares of the data storage provider’s stock worth $20,023,000 after buying an additional 20,000 shares during the last quarter. Finally, IFM Investors Pty Ltd raised its stake in shares of Western Digital by 8.6% during the 4th quarter. IFM Investors Pty Ltd now owns 17,110 shares of the data storage provider’s stock worth $633,000 after buying an additional 1,359 shares during the last quarter. Institutional investors and hedge funds own 93.41% of the company’s stock.
In other news, insider Mark P. Long sold 17,623 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $50.00, for a total transaction of $881,150.00. Following the completion of the transaction, the insider now owns 158,744 shares of the company’s stock, valued at approximately $7,937,200. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.36% of the company’s stock.
Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Monday, April 29th. The data storage provider reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.29). Western Digital had a net margin of 1.10% and a return on equity of 19.87%. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same period in the prior year, the company earned $3.63 EPS. The company’s revenue was down 26.7% compared to the same quarter last year. On average, analysts expect that Western Digital Corp will post 4.07 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date is Thursday, June 27th. Western Digital’s dividend payout ratio is currently 14.80%.
WDC has been the subject of several analyst reports. ValuEngine downgraded shares of Western Digital from a “hold” rating to a “sell” rating in a research note on Monday, May 20th. BidaskClub downgraded shares of Western Digital from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. Maxim Group reissued a “buy” rating and issued a $126.00 target price on shares of Western Digital in a research note on Wednesday, May 1st. Mizuho reissued a “hold” rating and issued a $47.00 target price on shares of Western Digital in a research note on Wednesday, May 1st. Finally, Stifel Nicolaus boosted their target price on shares of Western Digital from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $60.42.
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Western Digital Company Profile
Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.
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