Western Digital Corp (NASDAQ:WDC) Position Lessened by Cetera Advisor Networks LLC

Cetera Advisor Networks LLC decreased its holdings in Western Digital Corp (NASDAQ:WDC) by 13.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,672 shares of the data storage provider’s stock after selling 1,708 shares during the period. Cetera Advisor Networks LLC’s holdings in Western Digital were worth $393,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Alpha Omega Wealth Management LLC increased its holdings in shares of Western Digital by 4,440.0% during the 4th quarter. Alpha Omega Wealth Management LLC now owns 681 shares of the data storage provider’s stock worth $25,000 after buying an additional 666 shares during the last quarter. Ropes Wealth Advisors LLC increased its holdings in shares of Western Digital by 706.0% during the 4th quarter. Ropes Wealth Advisors LLC now owns 806 shares of the data storage provider’s stock worth $30,000 after buying an additional 706 shares during the last quarter. Semmax Financial Advisors Inc. acquired a new stake in shares of Western Digital during the 4th quarter worth approximately $38,000. Avestar Capital LLC increased 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 during the last quarter. Finally, Essex Savings Bank acquired a new stake in shares of Western Digital during the 4th quarter worth approximately $54,000. Institutional investors own 84.53% of the company’s stock.

In related news, insider Mark P. Long sold 17,623 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $50.00, for a total value of $881,150.00. Following the completion of the sale, the insider now directly owns 158,744 shares of the company’s stock, valued at $7,937,200. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.36% of the stock is currently owned by insiders.

A number of brokerages have recently issued reports on WDC. Zacks Investment Research downgraded shares of Western Digital from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. Bank of America lifted their target price on shares of Western Digital from $55.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday. Deutsche Bank upgraded shares of Western Digital from a “hold” rating to a “buy” rating and lifted their target price for the company from $45.00 to $60.00 in a report on Monday, April 15th. Longbow Research upgraded shares of Western Digital from a “neutral” rating to a “buy” rating and set a $65.00 target price for the company in a report on Monday, April 15th. Finally, Loop Capital lifted their target price on shares of Western Digital to $53.00 and gave the company an “average” rating in a report on Tuesday, April 9th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $64.46.

Shares of Western Digital stock traded down $0.99 during trading on Thursday, hitting $52.95. 3,921,600 shares of the stock were exchanged, compared to its average volume of 7,008,835. The stock has a market cap of $15.84 billion, a P/E ratio of 3.92, a price-to-earnings-growth ratio of 0.62 and a beta of 1.48. Western Digital Corp has a 12-month low of $33.83 and a 12-month high of $88.62. The company has a current ratio of 2.24, a quick ratio of 1.45 and a debt-to-equity ratio of 0.95.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data 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 business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.26 billion. Western Digital had a net margin of 4.34% and a return on equity of 28.88%. The company’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.95 EPS. As a group, sell-side analysts forecast 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. Stockholders 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 dividend yield of 3.78%. Western Digital’s dividend payout ratio (DPR) is currently 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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