Western Digital Corporation $WDC Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its holdings in Western Digital Corporation (NASDAQ:WDC) by 1.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 668,712 shares of the data storage provider’s stock after selling 11,589 shares during the quarter. Rhumbline Advisers’ holdings in Western Digital were worth $80,285,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Western Digital by 7.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock worth $1,698,000 after purchasing an additional 3,019 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Western Digital by 229.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock worth $56,000 after purchasing an additional 967 shares during the period. Sivia Capital Partners LLC bought a new position in Western Digital in the 2nd quarter valued at about $307,000. CWM LLC grew its position in Western Digital by 248.7% in the 2nd quarter. CWM LLC now owns 54,923 shares of the data storage provider’s stock valued at $3,515,000 after buying an additional 39,171 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Western Digital by 5.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 17,266 shares of the data storage provider’s stock valued at $1,102,000 after buying an additional 922 shares during the period. Institutional investors own 92.51% of the company’s stock.

Analyst Ratings Changes

WDC has been the subject of several recent analyst reports. Argus set a $300.00 price objective on shares of Western Digital in a report on Tuesday, February 3rd. Mizuho upped their target price on Western Digital to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. The Goldman Sachs Group set a $250.00 price target on Western Digital in a research report on Tuesday, February 3rd. Truist Financial set a $310.00 price objective on Western Digital in a research note on Tuesday, February 3rd. Finally, TD Cowen raised 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. One investment 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 stock. According to MarketBeat, Western Digital has an average rating of “Moderate Buy” and a consensus target price of $265.58.

Insider Activity

In other news, Director Roxanne Oulman sold 1,800 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $154.42, for a total transaction of $277,956.00. Following the sale, the director owned 3,863 shares in the company, valued at $596,524.46. The trade was a 31.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimberly Alexy sold 1,768 shares of the company’s stock in a transaction that occurred 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 sale, the director owned 3,585 shares of the company’s stock, valued at approximately $552,090. This trade represents a 33.03% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 70,522 shares of company stock worth $17,661,708. 0.18% of the stock is owned by company insiders.

Western Digital Price Performance

Shares of NASDAQ:WDC opened at $284.10 on Friday. Western Digital Corporation has a one year low of $28.83 and a one year high of $307.50. The stock has a fifty day moving average of $214.67 and a 200-day moving average of $149.58. The company has a market capitalization of $96.32 billion, a PE ratio of 28.50, a price-to-earnings-growth ratio of 0.63 and a beta of 1.80. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.46.

Western Digital (NASDAQ:WDC) last issued 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. The business had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Western Digital had a return on equity of 41.53% and a net margin of 35.52%.The company’s quarterly revenue was up 25.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.77 EPS. As a group, equities analysts anticipate that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Western Digital Dividend Announcement

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

Western Digital Company 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.