Corient Private Wealth LLC Buys 17,404 Shares of Western Digital Corporation $WDC

Corient Private Wealth LLC boosted its stake in Western Digital Corporation (NASDAQ:WDC) by 54.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 49,558 shares of the data storage provider’s stock after buying an additional 17,404 shares during the period. Corient Private Wealth LLC’s holdings in Western Digital were worth $3,171,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of Western Digital by 2.0% in the second quarter. Geode Capital Management LLC now owns 9,305,289 shares of the data storage provider’s stock valued at $593,045,000 after purchasing an additional 186,030 shares during the last quarter. Holocene Advisors LP boosted its stake in Western Digital by 8.5% in the 2nd quarter. Holocene Advisors LP now owns 5,535,972 shares of the data storage provider’s stock valued at $354,247,000 after purchasing an additional 431,419 shares during the period. Alyeska Investment Group L.P. boosted its stake in Western Digital by 130.0% in the 1st quarter. Alyeska Investment Group L.P. now owns 5,029,359 shares of the data storage provider’s stock valued at $203,337,000 after purchasing an additional 2,842,822 shares during the period. Maple Rock Capital Partners Inc. grew its holdings in Western Digital by 17.1% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 3,735,296 shares of the data storage provider’s stock valued at $239,022,000 after buying an additional 545,500 shares in the last quarter. Finally, Norges Bank acquired a new position in Western Digital in the 2nd quarter valued at $220,680,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Western Digital to $228.00 and gave the company an “overweight” rating in a research report on Wednesday. TD Cowen lifted their price objective on shares of Western Digital from $90.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Rosenblatt Securities boosted their price objective on shares of Western Digital from $125.00 to $165.00 and gave the company a “buy” rating in a report on Friday, October 31st. Mizuho set a $180.00 target price on shares of Western Digital in a report on Wednesday. Finally, Loop Capital boosted their price target on Western Digital to $250.00 and gave the company a “buy” rating in a research note on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.65.

Insider Activity at Western Digital

In related news, insider Cynthia L. Tregillis sold 2,801 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $160.57, for a total value of $449,756.57. Following the completion of the transaction, the insider owned 144,596 shares of the company’s stock, valued at $23,217,779.72. This represents a 1.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Roxanne Oulman sold 1,800 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $154.42, for a total transaction of $277,956.00. Following the sale, the director directly owned 3,863 shares in the company, valued at approximately $596,524.46. The trade was a 31.79% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 26,369 shares of company stock valued at $4,013,785. 0.18% of the stock is currently owned by company insiders.

Western Digital Stock Up 3.5%

NASDAQ WDC opened at $181.08 on Monday. The business has a fifty day moving average price of $152.47 and a two-hundred day moving average price of $106.02. The stock has a market capitalization of $61.91 billion, a PE ratio of 26.36, a PEG ratio of 1.12 and a beta of 1.82. Western Digital Corporation has a fifty-two week low of $28.83 and a fifty-two week high of $188.77. 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 (NASDAQ:WDC) last posted 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 return on equity of 30.89% and a net margin of 21.37%. Equities analysts expect 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 was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were paid 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 was Thursday, December 4th. This is an increase from Western Digital’s previous quarterly dividend of $0.10. Western Digital’s dividend payout ratio is 7.28%.

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.