Skandinaviska Enskilda Banken AB publ Purchases 10,770 Shares of Western Digital Corporation $WDC

Skandinaviska Enskilda Banken AB publ lifted its position in Western Digital Corporation (NASDAQ:WDC) by 5.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 209,143 shares of the data storage provider’s stock after buying an additional 10,770 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.06% of Western Digital worth $13,380,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Cetera Investment Advisers increased its holdings in shares of Western Digital by 6.6% in the first quarter. Cetera Investment Advisers now owns 30,303 shares of the data storage provider’s stock worth $1,225,000 after acquiring an additional 1,872 shares in the last quarter. HB Wealth Management LLC grew its position in shares of Western Digital by 12.8% in the 1st quarter. HB Wealth Management LLC now owns 8,336 shares of the data storage provider’s stock valued at $337,000 after purchasing an additional 948 shares during the period. TD Asset Management Inc increased its stake in Western Digital by 0.9% during the 1st quarter. TD Asset Management Inc now owns 154,233 shares of the data storage provider’s stock worth $6,236,000 after purchasing an additional 1,347 shares in the last quarter. Federated Hermes Inc. acquired a new stake in Western Digital during the 1st quarter worth approximately $62,000. Finally, Arkadios Wealth Advisors lifted its stake in Western Digital by 30.6% in the first quarter. Arkadios Wealth Advisors now owns 26,059 shares of the data storage provider’s stock valued at $1,054,000 after buying an additional 6,105 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Kimberly Alexy sold 1,768 shares of Western Digital stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $154.00, for a total transaction of $272,272.00. Following the completion of the transaction, the director owned 3,585 shares in the company, valued at approximately $552,090. This trade represents a 33.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Vidyadhara K. Gubbi sold 11,343 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $90.29, for a total value of $1,024,159.47. Following the transaction, the insider directly owned 151,596 shares in the company, valued at approximately $13,687,602.84. This trade represents a 6.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 34,911 shares of company stock valued at $4,588,187. Company insiders own 0.18% of the company’s stock.

Western Digital Trading Up 3.7%

NASDAQ WDC opened at $163.62 on Friday. The company has a market cap of $55.94 billion, a PE ratio of 31.77, a PEG ratio of 1.14 and a beta of 1.81. The company has a current ratio of 1.08, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. Western Digital Corporation has a 12 month low of $28.83 and a 12 month high of $178.45. The stock has a 50 day moving average of $136.77 and a 200-day moving average of $93.08.

Western Digital (NASDAQ:WDC) last issued its earnings results on Monday, April 7th. The data storage provider reported $1.78 earnings per share for the quarter. Western Digital had a net margin of 14.13% and a return on equity of 24.93%. The business had revenue of $4.10 billion for the quarter. On average, equities research analysts anticipate that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Western Digital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, December 4th. This is a positive change from Western Digital’s previous quarterly dividend of $0.10. Western Digital’s payout ratio is currently 7.28%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Western Digital in a research report on Tuesday. Barclays increased their target price on Western Digital from $105.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. UBS Group lifted their price target on Western Digital from $135.00 to $145.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Wedbush upped their price objective on Western Digital from $90.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Finally, Loop Capital lifted their target price on Western Digital to $250.00 and gave the company a “buy” rating in a research report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $162.16.

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.