Western Digital Corp (NASDAQ:WDC) Shares Bought by Legal & General Group Plc

Legal & General Group Plc lifted its holdings in shares of Western Digital Corp (NASDAQ:WDC) by 6.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,449,058 shares of the data storage provider’s stock after purchasing an additional 93,984 shares during the period. Legal & General Group Plc owned 0.50% of Western Digital worth $53,572,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans raised its holdings in Western Digital by 1.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 13,079 shares of the data storage provider’s stock valued at $484,000 after acquiring an additional 230 shares in the last quarter. Avestar Capital LLC raised its holdings in shares of Western Digital by 13.9% during the 4th quarter. Avestar Capital LLC now owns 1,993 shares of the data storage provider’s stock worth $48,000 after buying an additional 243 shares in the last quarter. Point View Wealth Management Inc. raised its holdings in shares of Western Digital by 1.4% during the 4th quarter. Point View Wealth Management Inc. now owns 17,289 shares of the data storage provider’s stock worth $639,000 after buying an additional 246 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Western Digital by 0.7% during the 4th quarter. CIBC Asset Management Inc now owns 41,955 shares of the data storage provider’s stock worth $1,551,000 after buying an additional 310 shares in the last quarter. Finally, AGF Investments America Inc. raised its holdings in shares of Western Digital by 2.5% during the 4th quarter. AGF Investments America Inc. now owns 19,230 shares of the data storage provider’s stock worth $711,000 after buying an additional 465 shares in the last quarter. 85.40% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Mark P. Long sold 17,623 shares of Western Digital stock in a transaction that occurred on 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 transaction, the insider now directly owns 158,744 shares in the company, valued at $7,937,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.36% of the company’s stock.

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus reduced their price objective on Western Digital from $60.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, January 25th. Zacks Investment Research upgraded Western Digital from a “strong sell” rating to a “hold” rating in a research report on Monday, December 31st. BidaskClub lowered Western Digital from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th. Royal Bank of Canada cut their target price on Western Digital to $40.00 and set a “sector perform” rating on the stock in a research report on Friday, January 18th. Finally, ValuEngine lowered Western Digital from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $64.79.

NASDAQ WDC traded up $0.94 during trading hours on Friday, reaching $55.39. 5,652,321 shares of the stock traded hands, compared to its average volume of 5,930,155. The company has a market capitalization of $16.11 billion, a price-to-earnings ratio of 4.10, a PEG ratio of 0.63 and a beta of 1.48. The company has a quick ratio of 1.45, a current ratio of 2.24 and a debt-to-equity ratio of 0.95. Western Digital Corp has a 1 year low of $33.83 and a 1 year high of $91.55.

Western Digital (NASDAQ:WDC) last posted its earnings results on Thursday, January 24th. The data storage provider reported $1.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.18. The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.26 billion. Western Digital had a return on equity of 28.88% and a net margin of 4.34%. Western Digital’s quarterly revenue was down 20.7% on a year-over-year basis. During the same period last year, the firm earned $3.95 earnings per share. On average, equities analysts expect that Western Digital Corp will post 4.64 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders 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 3.61%. Western Digital’s payout ratio is 14.80%.

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Western Digital Company Profile

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

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