Two Sigma Advisers LP increased its holdings in Western Digital Corp (NASDAQ:WDC) by 1,864.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,186,316 shares of the data storage provider’s stock after acquiring an additional 1,125,930 shares during the period. Two Sigma Advisers LP’s holdings in Western Digital were worth $94,348,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Cerebellum GP LLC purchased a new position in Western Digital in the fourth quarter worth approximately $121,000. Acadian Asset Management LLC purchased a new position in shares of Western Digital during the fourth quarter worth $132,000. Focused Wealth Management Inc purchased a new position in shares of Western Digital during the fourth quarter worth $143,000. SeaCrest Wealth Management LLC purchased a new position in shares of Western Digital during the fourth quarter worth $149,000. Finally, Icon Wealth Partners LLC purchased a new position in shares of Western Digital during the fourth quarter worth $171,000. Institutional investors own 84.97% of the company’s stock.
In other Western Digital news, CEO Stephen D. Milligan sold 90,755 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $88.12, for a total value of $7,997,330.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael D. Cordano sold 1,401 shares of the firm’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $85.00, for a total value of $119,085.00. Following the completion of the sale, the insider now owns 70,560 shares in the company, valued at $5,997,600. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 261,105 shares of company stock worth $23,899,380. 0.31% of the stock is owned by insiders.
Western Digital (NASDAQ:WDC) last released its earnings results on Thursday, January 25th. The data storage provider reported $3.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.51 by $0.44. The firm had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.31 billion. Western Digital had a return on equity of 30.78% and a net margin of 1.93%. Western Digital’s revenue was up 9.2% compared to the same quarter last year. During the same period last year, the business posted $2.30 earnings per share. research analysts anticipate that Western Digital Corp will post 12.66 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be issued a $0.50 dividend. The ex-dividend date is Thursday, March 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.94%. Western Digital’s dividend payout ratio (DPR) is presently 165.29%.
Several research analysts have recently commented on WDC shares. Evercore ISI restated a “buy” rating and set a $130.00 price target on shares of Western Digital in a research report on Wednesday, December 13th. Benchmark restated a “buy” rating and set a $130.00 price target on shares of Western Digital in a research report on Wednesday, December 13th. Citigroup restated a “buy” rating and set a $115.00 price target on shares of Western Digital in a research report on Wednesday, December 13th. Cowen restated a “buy” rating on shares of Western Digital in a research report on Wednesday, December 13th. Finally, Summit Redstone upgraded Western Digital from a “hold” rating to a “buy” rating in a research report on Wednesday, December 13th. Twelve investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $111.62.
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Western Digital 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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