4,464 Shares in Western Digital Corporation $WDC Bought by Atria Investments Inc

Atria Investments Inc purchased a new stake in shares of Western Digital Corporation (NASDAQ:WDC) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 4,464 shares of the data storage provider’s stock, valued at approximately $286,000.

A number of other hedge funds have also modified their holdings of WDC. Alyeska Investment Group L.P. lifted its holdings in shares of Western Digital by 130.0% during the first quarter. Alyeska Investment Group L.P. now owns 5,029,359 shares of the data storage provider’s stock worth $203,337,000 after purchasing an additional 2,842,822 shares during the period. Deutsche Bank AG raised its position in Western Digital by 107.1% during the 1st quarter. Deutsche Bank AG now owns 3,369,331 shares of the data storage provider’s stock worth $136,222,000 after buying an additional 1,742,481 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Western Digital during the 1st quarter valued at approximately $50,897,000. Westfield Capital Management Co. LP purchased a new stake in shares of Western Digital in the 1st quarter valued at $35,406,000. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Western Digital in the 1st quarter valued at $22,849,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 3,160 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $75.68, for a total transaction of $239,148.80. Following the completion of the transaction, the senior vice president owned 31,560 shares of the company’s stock, valued at $2,388,460.80. This represents a 9.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $150.69, for a total value of $3,013,800.00. Following the completion of the transaction, the chief executive officer owned 645,467 shares in the company, valued at approximately $97,265,422.23. This trade represents a 3.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 60,186 shares of company stock valued at $6,213,015. 0.18% of the stock is owned by corporate insiders.

Western Digital Trading Down 2.3%

Shares of NASDAQ:WDC opened at $166.11 on Thursday. Western Digital Corporation has a 1 year low of $28.83 and a 1 year high of $178.45. The firm has a market capitalization of $56.79 billion, a price-to-earnings ratio of 32.25, a price-to-earnings-growth ratio of 1.14 and a beta of 1.81. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.08 and a quick ratio of 0.84. The business’s 50 day moving average price is $123.34 and its 200-day moving average price is $83.87.

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

Western Digital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be given a dividend of $0.125 per share. This is a boost from Western Digital’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, December 4th. This represents a $0.50 annualized dividend and a dividend yield of 0.3%. Western Digital’s payout ratio is currently 7.28%.

Analysts Set New Price Targets

A number of research firms recently issued reports on WDC. Susquehanna restated a “neutral” rating and set a $135.00 target price on shares of Western Digital in a research report on Thursday, November 6th. The Goldman Sachs Group reissued a “neutral” rating and issued a $148.00 price objective on shares of Western Digital in a report on Friday, October 31st. Zacks Research raised Western Digital from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. TD Cowen lifted their price target on Western Digital from $90.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Barclays boosted their price target on Western Digital from $105.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $160.74.

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.