Western Digital Corporation $WDC Shares Acquired by US Bancorp DE

US Bancorp DE boosted its holdings in Western Digital Corporation (NASDAQ:WDC) by 29.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,749 shares of the data storage provider’s stock after purchasing an additional 21,572 shares during the quarter. US Bancorp DE’s holdings in Western Digital were worth $11,376,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. ORG Partners LLC raised its holdings in shares of Western Digital by 124.5% in the third quarter. ORG Partners LLC now owns 211 shares of the data storage provider’s stock valued at $25,000 after buying an additional 117 shares during the last quarter. Rakuten Securities Inc. increased its position in Western Digital by 4,070.0% in the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 407 shares during the period. NewSquare Capital LLC raised its stake in Western Digital by 86.9% during the 2nd quarter. NewSquare Capital LLC now owns 441 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 205 shares during the last quarter. Cullen Frost Bankers Inc. lifted its position in Western Digital by 551.4% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider’s stock worth $29,000 after acquiring an additional 204 shares during the period. Finally, Grove Bank & Trust purchased a new position in shares of Western Digital in the 3rd quarter valued at approximately $30,000. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital Stock Performance

Shares of WDC opened at $279.70 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. Western Digital Corporation has a 52-week low of $28.83 and a 52-week high of $309.90. The company has a 50-day simple moving average of $238.58 and a 200-day simple moving average of $166.19. The company has a market capitalization of $94.83 billion, a PE ratio of 28.05, a P/E/G ratio of 0.65 and a beta of 1.80.

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

Western Digital Dividend Announcement

The company also recently disclosed 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. This represents a $0.50 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Thursday, March 5th. Western Digital’s dividend payout ratio (DPR) is presently 5.02%.

Insider Buying and Selling

In other Western Digital news, insider Cynthia L. Tregillis sold 6,780 shares of the company’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $270.49, for a total value of $1,833,922.20. Following the sale, the insider owned 136,538 shares of the company’s stock, valued at approximately $36,932,163.62. This represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew E. Massengill sold 36,926 shares of Western Digital stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $260.43, for a total value of $9,616,638.18. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 67,606 shares of company stock valued at $17,296,369. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

WDC has been the subject of several analyst reports. Morgan Stanley upped their price target on Western Digital from $260.00 to $306.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Robert W. Baird set a $310.00 price objective on shares of Western Digital in a research report on Monday, February 2nd. Evercore reaffirmed an “outperform” rating and issued a $230.00 target price on shares of Western Digital in a report on Friday, January 16th. Weiss Ratings upgraded shares of Western Digital from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 2nd. Finally, Cantor Fitzgerald raised their price objective on shares of Western Digital to $325.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $265.58.

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.