Western Digital Corporation $WDC Stock Position Increased by Trivest Advisors Ltd

Trivest Advisors Ltd boosted its position in shares of Western Digital Corporation (NASDAQ:WDC) by 463.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 920,000 shares of the data storage provider’s stock after buying an additional 756,700 shares during the quarter. Western Digital accounts for approximately 3.5% of Trivest Advisors Ltd’s investment portfolio, making the stock its 12th largest position. Trivest Advisors Ltd’s holdings in Western Digital were worth $110,455,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. SYM FINANCIAL Corp acquired a new stake in Western Digital in the 2nd quarter valued at about $225,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Western Digital by 12.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,317 shares of the data storage provider’s stock worth $6,281,000 after purchasing an additional 5,731 shares in the last quarter. LBP AM SA bought a new stake in shares of Western Digital in the 3rd quarter worth approximately $641,000. Moloney Securities Asset Management LLC acquired a new stake in Western Digital during the third quarter valued at approximately $636,000. Finally, Resona Asset Management Co. Ltd. boosted its holdings in Western Digital by 7.1% during the second quarter. Resona Asset Management Co. Ltd. now owns 118,888 shares of the data storage provider’s stock worth $7,594,000 after buying an additional 7,913 shares in the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Western Digital

In other Western Digital news, Director Roxanne Oulman sold 1,800 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $154.42, for a total value of $277,956.00. Following the completion of the sale, the director owned 3,863 shares in the company, valued at $596,524.46. This represents a 31.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimberly Alexy sold 1,768 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $154.00, for a total transaction of $272,272.00. Following the transaction, the director owned 3,585 shares in the company, valued at approximately $552,090. This represents a 33.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 70,522 shares of company stock worth $17,661,708. 0.18% of the stock is owned by company insiders.

Western Digital Stock Performance

Shares of WDC stock opened at $285.52 on Friday. The company has a market capitalization of $96.80 billion, a price-to-earnings ratio of 28.64, a P/E/G ratio of 0.66 and a beta of 1.80. Western Digital Corporation has a 1-year low of $28.83 and a 1-year high of $309.90. The company has a current ratio of 1.46, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The stock’s fifty day simple moving average is $227.88 and its 200-day simple moving average is $158.98.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data 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 firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same period last year, the company posted $1.77 EPS. The business’s quarterly revenue was up 25.2% compared to the same quarter last year. On average, sell-side analysts predict that Western Digital Corporation will post 4.89 earnings per share for the current fiscal year.

Western Digital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Thursday, March 5th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend 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 presently 5.02%.

Analyst Ratings Changes

Several research firms have issued reports on WDC. Wall Street Zen cut Western Digital from a “buy” rating to a “hold” rating in a report on Saturday. JPMorgan Chase & Co. boosted their target price on Western Digital from $94.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Citigroup increased their price target on Western Digital to $325.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. New Street Research set a $250.00 price target on Western Digital in a research note on Tuesday, February 3rd. Finally, Loop Capital upped their price objective on shares of Western Digital to $250.00 and gave the company a “buy” rating in a research note on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $265.58.

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.