Personal CFO Solutions LLC Purchases New Holdings in Western Digital Corporation $WDC

Personal CFO Solutions LLC acquired a new position in shares of Western Digital Corporation (NASDAQ:WDC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,942 shares of the data storage provider’s stock, valued at approximately $353,000.

Several other large investors also recently added to or reduced their stakes in WDC. SYM FINANCIAL Corp acquired a new position in shares of Western Digital in the 2nd quarter valued at about $225,000. Mirae Asset Global Investments Co. Ltd. grew its position in Western Digital by 12.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,317 shares of the data storage provider’s stock valued at $6,281,000 after purchasing an additional 5,731 shares in the last quarter. LBP AM SA acquired a new position in Western Digital in the 3rd quarter valued at approximately $641,000. Moloney Securities Asset Management LLC purchased a new stake in Western Digital in the 3rd quarter worth approximately $636,000. Finally, Resona Asset Management Co. Ltd. boosted its stake in shares of Western Digital by 7.1% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 118,888 shares of the data storage provider’s stock valued at $7,594,000 after buying an additional 7,913 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.

Western Digital Stock Up 0.3%

Shares of WDC stock opened at $285.52 on Monday. The stock’s 50 day simple moving average is $227.88 and its 200 day simple moving average is $159.58. Western Digital Corporation has a twelve month low of $28.83 and a twelve month 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 company has a market capitalization of $96.80 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 0.66 and a beta of 1.79.

Western Digital (NASDAQ:WDC) last announced its 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. Western Digital had a return on equity of 41.53% and a net margin of 35.52%.The firm had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the prior year, the business earned $1.77 earnings per share. The company’s revenue was up 25.2% on a year-over-year basis. As a group, research analysts predict that Western Digital Corporation will post 4.89 EPS for the current year.

Western Digital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Thursday, March 5th will be paid a $0.125 dividend. The ex-dividend date is Thursday, March 5th. This represents a $0.50 dividend on an annualized basis and a yield of 0.2%. Western Digital’s dividend payout ratio (DPR) is presently 5.02%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. China Renaissance initiated coverage on shares of Western Digital in a research note on Friday, December 5th. They issued a “buy” rating and a $193.00 price target on the stock. TD Cowen boosted their target price on Western Digital from $200.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Weiss Ratings raised Western Digital from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 2nd. Wall Street Zen downgraded Western Digital from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Citigroup lifted their target price on shares of Western Digital to $325.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Western Digital presently has a consensus rating of “Moderate Buy” and an average target price of $265.58.

Insider Transactions at Western Digital

In other Western Digital news, Director Kimberly Alexy sold 1,768 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were 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 of the company’s stock, valued at $552,090. The trade was a 33.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew E. Massengill sold 36,926 shares of the firm’s 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 70,522 shares of company stock worth $17,661,708. Corporate insiders own 0.18% of the company’s stock.

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.