Mountain Hill Investment Partners Corp. Boosts Stock Holdings in Western Digital Corporation $WDC

Mountain Hill Investment Partners Corp. lifted its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,841 shares of the data storage provider’s stock after acquiring an additional 900 shares during the quarter. Western Digital accounts for about 4.5% of Mountain Hill Investment Partners Corp.’s portfolio, making the stock its 12th largest position. Mountain Hill Investment Partners Corp.’s holdings in Western Digital were worth $5,365,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of WDC. Nordea Investment Management AB grew its stake in shares of Western Digital by 9.6% during the second quarter. Nordea Investment Management AB now owns 30,434 shares of the data storage provider’s stock worth $1,938,000 after purchasing an additional 2,656 shares in the last quarter. Parsifal Capital Management LP grew its stake in shares of Western Digital by 32.0% during the first quarter. Parsifal Capital Management LP now owns 897,574 shares of the data storage provider’s stock worth $36,289,000 after purchasing an additional 217,574 shares in the last quarter. SYM FINANCIAL Corp acquired a new position in shares of Western Digital during the second quarter worth $225,000. Greenleaf Trust acquired a new position in shares of Western Digital during the second quarter worth $233,000. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Western Digital during the first quarter worth $35,406,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Insider Buying and Selling at Western Digital

In other news, insider Cynthia L. Tregillis sold 14,067 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $74.78, for a total transaction of $1,051,930.26. Following the completion of the sale, the insider owned 135,351 shares in the company, valued at approximately $10,121,547.78. This represents a 9.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vidyadhara K. Gubbi sold 11,343 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $90.29, for a total transaction of $1,024,159.47. Following the sale, the insider owned 151,596 shares of the company’s stock, valued at $13,687,602.84. This trade represents a 6.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 49,730 shares of company stock worth $3,921,594 over the last three months. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

WDC has been the subject of a number of analyst reports. Sanford C. Bernstein upgraded shares of Western Digital to a “hold” rating in a research note on Tuesday, September 16th. Mizuho boosted their target price on shares of Western Digital from $160.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday. Susquehanna boosted their target price on shares of Western Digital from $40.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. The Goldman Sachs Group reiterated a “neutral” rating and set a $148.00 target price on shares of Western Digital in a research note on Friday. Finally, Morgan Stanley upped their price objective on shares of Western Digital from $92.00 to $99.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $151.63.

Western Digital Stock Performance

NASDAQ WDC opened at $150.21 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.08 and a quick ratio of 0.84. Western Digital Corporation has a 1 year low of $28.83 and a 1 year high of $157.65. The company has a market capitalization of $51.49 billion, a PE ratio of 29.17, a P/E/G ratio of 1.14 and a beta of 1.77. The company has a fifty day moving average of $110.20 and a two-hundred day moving average of $76.82.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Monday, April 7th. The data storage provider reported $1.78 earnings per share (EPS) for the quarter. Western Digital had a net margin of 14.13% and a return on equity of 24.93%. The company had revenue of $4.10 billion during the quarter. As a group, analysts expect that Western Digital Corporation will post 4.89 earnings per share for the current year.

Western Digital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.3%. This is a positive change from Western Digital’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, December 4th. Western Digital’s payout ratio is currently 5.82%.

Western Digital Company Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.