GSA Capital Partners LLP Buys New Holdings in Western Digital Corporation $WDC

GSA Capital Partners LLP purchased a new position in Western Digital Corporation (NASDAQ:WDC) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,978 shares of the data storage provider’s stock, valued at approximately $598,000.

A number of other large investors also recently modified their holdings of WDC. Addison Advisors LLC grew its stake in shares of Western Digital by 7.1% during the third quarter. Addison Advisors LLC now owns 1,281 shares of the data storage provider’s stock worth $154,000 after purchasing an additional 85 shares in the last quarter. Pure Financial Advisors LLC lifted its holdings in Western Digital by 3.1% during the 3rd quarter. Pure Financial Advisors LLC now owns 3,583 shares of the data storage provider’s stock worth $430,000 after buying an additional 107 shares during the last quarter. Bogart Wealth LLC boosted its position in shares of Western Digital by 57.7% during the 3rd quarter. Bogart Wealth LLC now owns 309 shares of the data storage provider’s stock worth $37,000 after acquiring an additional 113 shares in the last quarter. Dynamic Advisor Solutions LLC increased its holdings in shares of Western Digital by 3.0% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 3,871 shares of the data storage provider’s stock valued at $465,000 after acquiring an additional 114 shares during the last quarter. Finally, ORG Partners LLC raised its position in shares of Western Digital by 124.5% during the 3rd quarter. ORG Partners LLC now owns 211 shares of the data storage provider’s stock worth $25,000 after acquiring an additional 117 shares in the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital Trading Up 0.3%

NASDAQ WDC opened at $285.52 on Monday. The firm’s fifty day moving average is $227.88 and its two-hundred day moving average is $159.58. Western Digital Corporation has a one year low of $28.83 and a one year high of $309.90. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.46. The firm has a market cap of $96.80 billion, a PE ratio of 28.64, a P/E/G ratio of 0.66 and a beta of 1.79.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Thursday, January 29th. The data storage provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.20. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.93 billion. Western Digital had a return on equity of 41.53% and a net margin of 35.52%.The business’s revenue was up 25.2% on a year-over-year basis. During the same quarter last year, the company posted $1.77 earnings per share. Analysts expect that Western Digital Corporation will post 4.89 earnings per share for the current year.

Western Digital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Thursday, March 5th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Thursday, March 5th. Western Digital’s dividend payout ratio is 5.02%.

Insider Activity

In other news, Director Matthew E. Massengill sold 36,926 shares of Western Digital stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $260.43, for a total value of $9,616,638.18. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Roxanne Oulman sold 1,800 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $154.42, for a total transaction of $277,956.00. Following the transaction, the director owned 3,863 shares in the company, valued at approximately $596,524.46. This trade represents a 31.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 70,522 shares of company stock valued at $17,661,708. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. New Street Research set a $250.00 price target on shares of Western Digital in a research note on Tuesday, February 3rd. Citigroup increased their target price on shares of Western Digital to $325.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Wall Street Zen lowered shares of Western Digital from a “buy” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. upped their price objective on shares of Western Digital from $94.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Finally, Bank of America lifted their target price on Western Digital from $197.00 to $257.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Western Digital has a consensus rating of “Moderate Buy” and a consensus target price of $265.58.

Western Digital Profile

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.