Trilogy Capital Inc. Invests $710,000 in Western Digital Corp (WDC) Stock

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Trilogy Capital Inc. bought a new position in shares of Western Digital Corp (NASDAQ:WDC) during the first quarter, Holdings Channel reports. The institutional investor bought 14,781 shares of the data storage provider’s stock, valued at approximately $710,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in Western Digital by 57.0% during the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 650 shares of the data storage provider’s stock worth $31,000 after buying an additional 236 shares during the last quarter. Alpha Omega Wealth Management LLC increased its holdings in shares of Western Digital by 4,440.0% in the fourth quarter. Alpha Omega Wealth Management LLC now owns 681 shares of the data storage provider’s stock valued at $25,000 after purchasing an additional 666 shares during the last quarter. Ropes Wealth Advisors LLC increased its holdings in shares of Western Digital by 706.0% in the fourth quarter. Ropes Wealth Advisors LLC now owns 806 shares of the data storage provider’s stock valued at $30,000 after purchasing an additional 706 shares during the last quarter. Semmax Financial Advisors Inc. acquired a new position in shares of Western Digital in the fourth quarter valued at $38,000. Finally, Kinneret Advisory LLC acquired a new position in shares of Western Digital in the fourth quarter valued at $54,000. Institutional investors and hedge funds own 85.40% of the company’s stock.

WDC opened at $54.29 on Wednesday. Western Digital Corp has a twelve month low of $33.83 and a twelve month high of $92.06. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.24 and a quick ratio of 1.45. The stock has a market cap of $15.79 billion, a P/E ratio of 4.02, a PEG ratio of 0.59 and a beta of 1.48.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, January 24th. The data storage provider reported $1.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.18. Western Digital had a net margin of 4.34% and a return on equity of 28.88%. The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same quarter in the prior year, the business posted $3.95 earnings per share. Western Digital’s revenue was down 20.7% compared to the same quarter last year. As a group, analysts anticipate that Western Digital Corp will post 4.64 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.00 annualized dividend and a yield of 3.68%. Western Digital’s dividend payout ratio is 14.80%.

Several research firms have commented on WDC. Royal Bank of Canada began coverage on shares of Western Digital in a report on Friday, March 29th. They issued a “market perform” rating on the stock. Loop Capital upped their price objective on shares of Western Digital to $53.00 and gave the company an “average” rating in a report on Tuesday, April 9th. Longbow Research upgraded shares of Western Digital from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Monday. Goldman Sachs Group upped their price objective on shares of Western Digital from $42.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, March 27th. Finally, Deutsche Bank upgraded shares of Western Digital from a “hold” rating to a “buy” rating and upped their price objective for the company from $45.00 to $60.00 in a report on Monday. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $64.79.

In related news, insider Mark P. Long sold 17,623 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $50.00, for a total transaction of $881,150.00. Following the completion of the sale, the insider now owns 158,744 shares of the company’s stock, valued at $7,937,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.36% of the company’s stock.

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About Western Digital

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.

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Want to see what other hedge funds are holding WDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Digital Corp (NASDAQ:WDC).

Institutional Ownership by Quarter for Western Digital (NASDAQ:WDC)

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