Kentucky Retirement Systems Insurance Trust Fund Invests $212,000 in Western Digital Corp (NASDAQ:WDC)

Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Western Digital Corp (NASDAQ:WDC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,725 shares of the data storage provider’s stock, valued at approximately $212,000.

Other institutional investors also recently bought and sold shares of the company. Alpha Omega Wealth Management LLC lifted its position in 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 acquiring an additional 666 shares during the last quarter. Ropes Wealth Advisors LLC lifted its position in 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 acquiring an additional 706 shares during the last quarter. Semmax Financial Advisors Inc. acquired a new position in Western Digital during the 4th quarter worth $38,000. Avestar Capital LLC lifted its position in 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 acquiring an additional 243 shares during the last quarter. Finally, Essex Savings Bank acquired a new position in Western Digital during the 4th quarter worth $54,000. Institutional investors and hedge funds own 84.53% of the company’s stock.

In other news, insider Mark P. Long sold 17,623 shares of the 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 sale, the insider now directly owns 158,744 shares of the company’s stock, valued at $7,937,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.36% of the stock is owned by corporate insiders.

A number of research firms have weighed in on WDC. Zacks Investment Research lowered shares of Western Digital from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. Bank of America upped their price objective on shares of Western Digital from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday. Deutsche Bank raised 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 research report on Monday, April 15th. Longbow Research raised shares of Western Digital from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Monday, April 15th. Finally, Loop Capital upped their price objective on shares of Western Digital to $53.00 and gave the company an “average” rating in a research report on Tuesday, April 9th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have given a buy rating to the company. Western Digital has an average rating of “Hold” and an average target price of $64.46.

Western Digital stock traded down $0.99 during trading hours on Thursday, hitting $52.95. 3,921,600 shares of the stock were exchanged, compared to its average volume of 7,008,835. The company has a current ratio of 2.24, a quick ratio of 1.45 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $15.84 billion, a price-to-earnings ratio of 3.92, a P/E/G 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.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Thursday, January 24th. The data storage provider reported $1.45 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $4.26 billion. During the same period in the prior year, the firm earned $3.95 earnings per share. Western Digital’s revenue was down 20.7% compared to the same quarter last year. As a group, equities research analysts predict that Western Digital Corp will post 4.64 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid 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 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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