2,005 Shares in Western Digital Corporation $WDC Acquired by Integrated Advisors Network LLC

Integrated Advisors Network LLC bought a new stake in Western Digital Corporation (NASDAQ:WDC) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,005 shares of the data storage provider’s stock, valued at approximately $241,000.

Several other institutional investors also recently modified their holdings of WDC. Kaizen Financial Strategies bought a new stake in shares of Western Digital during the 3rd quarter valued at about $309,000. Choreo LLC boosted its holdings in Western Digital by 21.3% during the 3rd quarter. Choreo LLC now owns 11,409 shares of the data storage provider’s stock worth $1,370,000 after acquiring an additional 2,007 shares during the last quarter. West Family Investments Inc. bought a new stake in Western Digital in the 3rd quarter worth about $234,000. Westpac Banking Corp bought a new position in shares of Western Digital in the third quarter valued at approximately $736,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Western Digital by 6.9% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 705,130 shares of the data storage provider’s stock valued at $84,658,000 after purchasing an additional 45,606 shares during the last quarter. Institutional investors own 92.51% of the company’s stock.

Wall Street Analysts Forecast Growth

WDC has been the topic of a number of analyst reports. Argus set a $300.00 target price on shares of Western Digital in a research report on Tuesday, February 3rd. Truist Financial set a $310.00 target price on Western Digital in a report on Tuesday, February 3rd. New Street Research set a $250.00 price objective on shares of Western Digital in a report on Tuesday, February 3rd. Evercore reissued an “outperform” rating and set a $230.00 price objective on shares of Western Digital in a research report on Friday, January 16th. Finally, Cantor Fitzgerald boosted their price target on Western Digital to $325.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Western Digital currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.58.

Insider Activity at Western Digital

In other news, Director Matthew E. Massengill sold 36,926 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $260.43, for a total value of $9,616,638.18. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Cynthia L. Tregillis sold 6,780 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $270.49, for a total transaction of $1,833,922.20. Following the completion of the transaction, the insider directly owned 136,538 shares of the company’s stock, valued at $36,932,163.62. This trade represents a 4.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 64,805 shares of company stock worth $16,846,612. Insiders own 0.18% of the company’s stock.

Western Digital Stock Performance

NASDAQ:WDC opened at $250.61 on Wednesday. The stock has a 50-day simple moving average of $241.89 and a two-hundred day simple moving average of $169.42. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.46. The firm has a market capitalization of $84.97 billion, a PE ratio of 25.14, a P/E/G ratio of 0.62 and a beta of 1.76. Western Digital Corporation has a 52-week low of $28.83 and a 52-week high of $309.90.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, January 29th. The data storage provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.20. Western Digital had a return on equity of 41.53% and a net margin of 35.52%.The company had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the previous year, the firm earned $1.77 EPS. The firm’s revenue was up 25.2% compared to the same quarter last year. Analysts forecast that Western Digital Corporation will post 4.89 EPS for the current year.

Western Digital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Thursday, March 5th will be given a dividend of $0.125 per share. The ex-dividend date is Thursday, March 5th. This represents a $0.50 dividend on an annualized basis and a yield of 0.2%. Western Digital’s payout ratio is 5.02%.

Western Digital Profile

Western Digital Corporation is a global data storage company that designs, manufactures and sells a broad range of storage devices and systems for personal, enterprise and cloud applications. Headquartered in San Jose, California, the company develops hard disk drives (HDDs), solid-state drives (SSDs), NAND flash components and finished storage products used in PCs, external storage, servers, network-attached storage (NAS) and embedded systems.

Its product portfolio spans consumer and commercial markets, including internal and external HDDs and SSDs, removable flash memory products and storage platforms for data center and enterprise environments.