LSV Asset Management decreased its position in shares of Western Digital Corp (NASDAQ:WDC) by 3.3% during the first quarter, HoldingsChannel.com reports. The fund owned 3,573,948 shares of the data storage provider’s stock after selling 120,900 shares during the period. LSV Asset Management’s holdings in Western Digital were worth $171,763,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. First Interstate Bank grew its stake in shares of Western Digital by 159.2% in the 1st quarter. First Interstate Bank now owns 578 shares of the data storage provider’s stock worth $28,000 after buying an additional 355 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of Western Digital by 57.0% in the 1st 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 grew its stake in shares of Western Digital by 4,440.0% in 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. Global Retirement Partners LLC grew its stake in shares of Western Digital by 66.1% in the 1st quarter. Global Retirement Partners LLC now owns 746 shares of the data storage provider’s stock worth $36,000 after buying an additional 297 shares during the last quarter. Finally, Investors Research Corp purchased a new stake in shares of Western Digital in the 1st quarter worth approximately $36,000. Hedge funds and other institutional investors own 83.93% of the company’s stock.
Several analysts recently weighed in on the company. Stifel Nicolaus cut their price target on Western Digital from $60.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, January 25th. BidaskClub downgraded Western Digital from a “hold” rating to a “sell” rating in a research note on Wednesday, March 27th. ValuEngine downgraded Western Digital from a “hold” rating to a “sell” rating in a research note on Monday, April 1st. Maxim Group restated a “buy” rating and issued a $126.00 price target on shares of Western Digital in a research note on Wednesday, May 1st. Finally, Royal Bank of Canada assumed coverage on Western Digital in a research note on Friday, March 29th. They issued a “market perform” rating on the stock. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twelve have assigned a buy rating to the company. Western Digital currently has an average rating of “Hold” and a consensus target price of $60.42.
Western Digital stock opened at $44.63 on Friday. The company has a quick ratio of 1.30, a current ratio of 2.11 and a debt-to-equity ratio of 1.01. Western Digital Corp has a fifty-two week low of $33.83 and a fifty-two week high of $88.62. The company has a market cap of $13.08 billion, a PE ratio of 3.30 and a beta of 1.49.
Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Monday, April 29th. The data storage provider reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.29). The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.68 billion. Western Digital had a net margin of 1.10% and a return on equity of 19.87%. The business’s revenue was down 26.7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.63 EPS. On average, sell-side analysts predict that Western Digital Corp will post 4.07 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date is Thursday, June 27th. Western Digital’s dividend payout ratio (DPR) is presently 14.80%.
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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