6,132 Shares in Western Digital Corporation $WDC Bought by Perpetual Ltd

Perpetual Ltd bought a new stake in shares of Western Digital Corporation (NASDAQ:WDC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,132 shares of the data storage provider’s stock, valued at approximately $736,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of WDC. Dynamic Advisor Solutions LLC lifted its position in shares of Western Digital by 3.0% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 3,871 shares of the data storage provider’s stock valued at $465,000 after buying an additional 114 shares in the last quarter. CVA Family Office LLC raised its stake in Western Digital by 23.7% during the 2nd quarter. CVA Family Office LLC now owns 904 shares of the data storage provider’s stock worth $58,000 after acquiring an additional 173 shares during the period. Manchester Capital Management LLC lifted its holdings in Western Digital by 47.2% during the second quarter. Manchester Capital Management LLC now owns 577 shares of the data storage provider’s stock valued at $37,000 after purchasing an additional 185 shares in the last quarter. Forum Financial Management LP boosted its position in shares of Western Digital by 3.4% in the second quarter. Forum Financial Management LP now owns 5,895 shares of the data storage provider’s stock worth $377,000 after purchasing an additional 193 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of Western Digital by 6.2% in the second quarter. UMB Bank n.a. now owns 3,465 shares of the data storage provider’s stock worth $222,000 after purchasing an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital Stock Performance

NASDAQ WDC opened at $181.08 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.21 and a quick ratio of 0.94. Western Digital Corporation has a 1-year low of $28.83 and a 1-year high of $188.77. The business has a 50 day simple moving average of $152.47 and a two-hundred day simple moving average of $106.02. The stock has a market capitalization of $61.91 billion, a PE ratio of 26.36, a P/E/G ratio of 1.12 and a beta of 1.82.

Western Digital (NASDAQ:WDC) last posted its earnings results on Monday, April 7th. The data storage provider reported $1.78 EPS for the quarter. Western Digital had a return on equity of 30.89% and a net margin of 21.37%.The firm had revenue of $4.10 billion during the quarter. On average, research analysts predict that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Western Digital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were issued a $0.125 dividend. This is a boost from Western Digital’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, December 4th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.3%. Western Digital’s payout ratio is presently 7.28%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on WDC shares. Sanford C. Bernstein upgraded shares of Western Digital to a “hold” rating in a research note on Tuesday, September 16th. Citigroup boosted their price objective on Western Digital from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Mizuho set a $180.00 price objective on Western Digital in a research note on Wednesday. China Renaissance began coverage on Western Digital in a research note on Friday, December 5th. They set a “buy” rating and a $193.00 target price on the stock. Finally, Barclays boosted their price target on Western Digital from $105.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Western Digital has a consensus rating of “Moderate Buy” and an average price target of $173.65.

Insider Buying and Selling at Western Digital

In related news, Director Roxanne Oulman sold 1,800 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $154.42, for a total value of $277,956.00. Following the completion of the transaction, the director owned 3,863 shares of the company’s stock, valued at approximately $596,524.46. This trade represents a 31.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $150.69, for a total value of $3,013,800.00. Following the sale, the chief executive officer directly owned 645,467 shares in the company, valued at $97,265,422.23. The trade was a 3.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 26,369 shares of company stock valued at $4,013,785. Corporate insiders own 0.18% of the company’s stock.

About Western Digital

Western Digital Corporation is a global data storage company that designs, manufactures and sells a broad range of storage devices and systems for personal, enterprise and cloud applications. Headquartered in San Jose, California, the company develops hard disk drives (HDDs), solid-state drives (SSDs), NAND flash components and finished storage products used in PCs, external storage, servers, network-attached storage (NAS) and embedded systems.

Its product portfolio spans consumer and commercial markets, including internal and external HDDs and SSDs, removable flash memory products and storage platforms for data center and enterprise environments.